Short Interest in Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) Drops By 13.0%

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 31,900,000 shares, a decline of 13.0% from the January 15th total of 36,670,000 shares. Based on an average trading volume of 6,260,000 shares, the short-interest ratio is presently 5.1 days. Approximately 11.8% of the company’s shares are sold short.

In related news, major shareholder Robert B. Rowling purchased 3,364,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average price of $1.72 per share, for a total transaction of $5,786,080.00.

Hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its holdings in shares of Northern Oil & Gas by 26.0% during the 3rd quarter. Barclays PLC now owns 394,522 shares of the energy company’s stock valued at $773,000 after buying an additional 81,360 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of Northern Oil & Gas by 47.5% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 97,957 shares of the energy company’s stock valued at $192,000 after buying an additional 31,555 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Northern Oil & Gas by 16.9% during the 3rd quarter. California Public Employees Retirement System now owns 792,248 shares of the energy company’s stock valued at $1,553,000 after buying an additional 114,377 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Northern Oil & Gas by 141.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 182,594 shares of the energy company’s stock valued at $359,000 after buying an additional 107,052 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Northern Oil & Gas by 11.5% during the 3rd quarter. Rhumbline Advisers now owns 406,633 shares of the energy company’s stock valued at $797,000 after buying an additional 42,040 shares in the last quarter.

Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Northern Oil & Gas from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Northland Securities began coverage on shares of Northern Oil & Gas in a report on Thursday, November 21st. They issued a “buy” rating and a $3.25 price target on the stock. Finally, Imperial Capital upgraded shares of Northern Oil & Gas from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $2.00 to $2.50 in a report on Friday, December 20th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Northern Oil & Gas has a consensus rating of “Buy” and an average target price of $3.31.

Shares of NOG stock opened at $1.59 on Friday. Northern Oil & Gas has a 12 month low of $1.40 and a 12 month high of $2.94.

Northern Oil & Gas (NYSEAMERICAN:NOG) last announced its earnings results on Tuesday, November 12th. The energy company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The firm had revenue of $233.88 million for the quarter, compared to analysts’ expectations of $170.59 million.

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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