Northern Oil & Gas (NOG) was Reiterated by Wunderlich to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 5 from a previous price target of $4 . Wunderlich advised their investors in a research report released on May 20, 2016.
On the company’s financial health, Northern Oil & Gas reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 9, 2016. Analyst had a consensus of $-0.03. The company had revenue of $31.84 million for the quarter, compared to analysts expectations of $57.41 million. The company’s revenue was down -58.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.10 EPS.
Northern Oil & Gas closed down -0.24 points or -5.07% at $4.49 with 5,97,159 shares getting traded on Thursday. Post opening the session at $4.63, the shares hit an intraday low of $4.4 and an intraday high of $4.68 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 20, 2015, Michael Lewis Reger (C E O) purchased 25,000 shares at $6.46 per share price.
Northern Oil and Gas Inc. is an independent energy company. The Company is engaged in the acquisition exploration exploitation development and production of crude oil and natural gas properties. Its principal business is crude oil and natural gas exploration development and production with operations in North Dakota and Montana that primarily target the Bakken and Three Forks formations in the Williston basin of the United States. The Company acquires leasehold interests that comprise of non-operated working interests in wells and in drilling projects within its area of operations. The Company owns working interests in 2338 gross (185.7 net) producing wells consisting of 2337 wells targeting the Bakken and Three Forks formations and one exploratory well targeting another formation.