Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 13,517,030 shares, a decrease of 25.4% from the August 15th total of 18,127,212 shares. Approximately 7.6% of the shares of the company are sold short. Based on an average daily volume of 4,529,928 shares, the short-interest ratio is currently 3.0 days.

Shares of NOG opened at $3.41 on Thursday. Northern Oil & Gas has a twelve month low of $0.63 and a twelve month high of $3.80.

Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its earnings results on Thursday, August 9th. The energy company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $96.78 million for the quarter, compared to analyst estimates of $95.20 million.

Several research analysts recently issued reports on NOG shares. Stifel Nicolaus set a $4.00 price target on shares of Northern Oil & Gas and gave the stock a “buy” rating in a report on Wednesday, August 1st. Seaport Global Securities upgraded shares of Northern Oil & Gas from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, June 4th. Imperial Capital set a $3.00 target price on shares of Northern Oil & Gas and gave the stock a “hold” rating in a research report on Thursday, May 17th. SunTrust Banks upgraded shares of Northern Oil & Gas from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Finally, Northland Securities set a $6.00 target price on shares of Northern Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $4.17.

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its position in Northern Oil & Gas by 151.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,509 shares of the energy company’s stock worth $112,000 after buying an additional 21,374 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in Northern Oil & Gas during the second quarter worth about $120,000. Voya Investment Management LLC acquired a new position in Northern Oil & Gas during the second quarter worth about $123,000. Metropolitan Life Insurance Co. NY acquired a new position in Northern Oil & Gas during the second quarter worth about $127,000. Finally, Engineers Gate Manager LP acquired a new position in Northern Oil & Gas during the second quarter worth about $170,000.

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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