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SunTrust Banks Weighs in on Northern Oil & Gas, Inc.’s Q2 2019 Earnings (NYSEAMERICAN:NOG)

By August 17, 2019 No Comments

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – SunTrust Banks dropped their Q2 2019 earnings estimates for Northern Oil & Gas in a research report issued to clients and investors on Tuesday, July 23rd, according to Zacks Investment Research. SunTrust Banks analyst N. Dingmann now expects that the energy company will post earnings of $0.10 per share for the quarter, down from their prior estimate of $0.11. SunTrust Banks also issued estimates for Northern Oil & Gas’ Q3 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.13 EPS, FY2019 earnings at $0.42 EPS, FY2020 earnings at $0.50 EPS and FY2021 earnings at $0.54 EPS.

NOG has been the topic of a number of other reports. Zacks Investment Research raised shares of Northern Oil & Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Northland Securities set a $5.00 price target on shares of Northern Oil & Gas and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $3.88.

Shares of NOG traded up $0.09 during trading hours on Thursday, reaching $1.71. 3,808,099 shares of the stock traded hands, compared to its average volume of 5,430,861. Northern Oil & Gas has a 52 week low of $1.40 and a 52 week high of $4.49.

Northern Oil & Gas (NYSEAMERICAN:NOG) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $186.44 million during the quarter, compared to the consensus estimate of $153.11 million.

A number of hedge funds and other institutional investors have recently bought and sold shares of NOG. United Services Automobile Association increased its stake in shares of Northern Oil & Gas by 5.3% in the second quarter. United Services Automobile Association now owns 523,116 shares of the energy company’s stock worth $1,010,000 after purchasing an additional 26,288 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Northern Oil & Gas in the second quarter worth about $1,026,000. UBS Asset Management Americas Inc. increased its stake in shares of Northern Oil & Gas by 313.8% in the second quarter. UBS Asset Management Americas Inc. now owns 177,100 shares of the energy company’s stock worth $342,000 after purchasing an additional 134,300 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of Northern Oil & Gas in the second quarter worth about $202,000. Finally, Marshall Wace LLP increased its stake in shares of Northern Oil & Gas by 45.2% in the second quarter. Marshall Wace LLP now owns 1,229,870 shares of the energy company’s stock worth $2,373,000 after purchasing an additional 382,622 shares in the last quarter.

In related news, major shareholder Robert B. Rowling acquired 1,000,060 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $2.06 per share, for a total transaction of $2,060,123.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Robert B. Rowling acquired 1,508,382 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $1.55 per share, with a total value of $2,337,992.10. The disclosure for this purchase can be found here.

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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