Elliott Management Corp Holds Position in Northern Oil & Gas, Inc. (NOG)

Elliott Management Corp held its stake in shares of Northern Oil & Gas, Inc. (AMEX:NOG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,582,814 shares of the energy company’s stock at the end of the second quarter. Elliott Management Corp owned about 7.45% of Northern Oil & Gas worth $6,416,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NOG. State of Tennessee Treasury Department boosted its holdings in shares of Northern Oil & Gas by 1.6% in the 1st quarter. State of Tennessee Treasury Department now owns 41,525 shares of the energy company’s stock worth $108,000 after acquiring an additional 662 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Northern Oil & Gas by 50.8% in the 1st quarter. OppenheimerFunds Inc. now owns 42,557 shares of the energy company’s stock worth $111,000 after acquiring an additional 14,327 shares in the last quarter. KCG Holdings Inc. boosted its holdings in shares of Northern Oil & Gas by 123.9% in the 1st quarter. KCG Holdings Inc. now owns 44,133 shares of the energy company’s stock worth $115,000 after acquiring an additional 24,422 shares in the last quarter. Quantitative Investment Management LLC boosted its holdings in shares of Northern Oil & Gas by 11.3% in the 2nd quarter. Quantitative Investment Management LLC now owns 90,500 shares of the energy company’s stock worth $126,000 after acquiring an additional 9,200 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Northern Oil & Gas by 2.1% in the 1st quarter. Prudential Financial Inc. now owns 74,229 shares of the energy company’s stock worth $193,000 after acquiring an additional 1,500 shares in the last quarter.

Several research analysts have recently commented on NOG shares. Scotiabank set a $2.00 target price on Northern Oil & Gas and gave the stock a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research raised Northern Oil & Gas from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Royal Bank Of Canada set a $2.00 target price on Northern Oil & Gas and gave the stock a “hold” rating in a report on Thursday, August 24th. Imperial Capital started coverage on Northern Oil & Gas in a report on Tuesday, October 3rd. They issued an “in-line” rating and a $1.00 target price on the stock. Finally, Capital One Financial Corporation downgraded Northern Oil & Gas from an “equal weight” rating to an “underweight” rating in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $1.67.

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Northern Oil & Gas, Inc. (NOG) traded down 6.989% on Friday, reaching $0.865. 420,019 shares of the company traded hands. Northern Oil & Gas, Inc. has a 52-week low of $0.66 and a 52-week high of $4.00. The company’s market capitalization is $53.39 million. The stock has a 50-day moving average of $0.88 and a 200 day moving average of $1.53.

Northern Oil & Gas (AMEX:NOG) last issued its earnings results on Tuesday, August 8th. The energy company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.24. The company had revenue of $64.90 million during the quarter, compared to analyst estimates of $48.06 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s quarterly revenue was up 102.8% on a year-over-year basis. On average, equities analysts forecast that Northern Oil & Gas, Inc. will post $0.00 EPS for the current year.

About Northern Oil & Gas

Northern Oil and Gas, Inc is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana. The Company holds working interests in over 2,630 gross (204.3 net) producing wells, including over 2,630 wells targeting the Bakken and Three Forks formations and over two wells targeting other formations.

Institutional Ownership by Quarter for Northern Oil & Gas (AMEX:NOG)

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