Research Analysts Set Expectations for Northern Oil & Gas, Inc.’s Q2 2019 Earnings (NYSEAMERICAN:NOG)

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Investment analysts at Seaport Global Securities dropped their Q2 2019 earnings per share (EPS) estimates for shares of Northern Oil & Gas in a report issued on Tuesday, June 25th, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now expects that the energy company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.15. Seaport Global Securities also issued estimates for Northern Oil & Gas’ Q3 2019 earnings at $0.16 EPS, Q4 2019 earnings at $0.17 EPS, FY2019 earnings at $0.54 EPS, Q1 2020 earnings at $0.16 EPS, Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.16 EPS, Q4 2020 earnings at $0.16 EPS and FY2020 earnings at $0.64 EPS.

Northern Oil & Gas (NYSEAMERICAN:NOG) last released its quarterly earnings data on Thursday, May 9th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The firm had revenue of $132.68 million during the quarter, compared to analyst estimates of $142.86 million.

Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday, July 12th. SunTrust Banks set a $5.00 target price on shares of Northern Oil & Gas and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Northland Securities set a $2.00 price target on shares of Global Eagle Entertainment and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $3.90.

NYSEAMERICAN:NOG traded down $0.04 during mid-day trading on Wednesday, hitting $1.58. 6,394,035 shares of the stock were exchanged, compared to its average volume of 5,270,017. Northern Oil & Gas has a fifty-two week low of $1.54 and a fifty-two week high of $4.49.

In related news, major shareholder Robert B. Rowling acquired 1,000,060 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $2.06 per share, with a total value of $2,060,123.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Robert B. Rowling acquired 1,000,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $2.23 per share, for a total transaction of $2,230,000.00. The disclosure for this purchase can be found here.

A number of institutional investors have recently modified their holdings of NOG. Bank of Montreal Can lifted its stake in Northern Oil & Gas by 1,610.3% in the fourth quarter. Bank of Montreal Can now owns 22,987 shares of the energy company’s stock worth $52,000 after acquiring an additional 21,643 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Northern Oil & Gas by 49.5% during the 4th quarter. Rhumbline Advisers now owns 267,659 shares of the energy company’s stock worth $605,000 after buying an additional 88,664 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Northern Oil & Gas during the 4th quarter worth approximately $2,481,000. New York State Common Retirement Fund lifted its position in shares of Northern Oil & Gas by 53.6% during the 4th quarter. New York State Common Retirement Fund now owns 185,400 shares of the energy company’s stock worth $419,000 after buying an additional 64,700 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Northern Oil & Gas by 2.1% during the 4th quarter. BlackRock Inc. now owns 13,613,865 shares of the energy company’s stock worth $30,767,000 after buying an additional 283,480 shares during the last quarter.

About Northern Oil & Gas

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana.

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Earnings History and Estimates for Northern Oil & Gas (NYSEAMERICAN:NOG)

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