Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 6,627,204 shares, a decline of 8.6% from the October 31st total of 7,251,728 shares. Based on an average trading volume of 1,921,656 shares, the days-to-cover ratio is currently 3.4 days. Approximately 17.3% of the shares of the company are sold short.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Northern Oil & Gas by 33.4% in the second quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock valued at $5,058,000 after purchasing an additional 905,328 shares in the last quarter. Gen IV Investment Opportunities LLC acquired a new position in Northern Oil & Gas in the third quarter valued at about $989,000. Goldman Sachs Group Inc. raised its stake in Northern Oil & Gas by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 427,725 shares of the energy company’s stock valued at $1,112,000 after purchasing an additional 41,431 shares in the last quarter. Geode Capital Management LLC raised its stake in Northern Oil & Gas by 2.9% in the first quarter. Geode Capital Management LLC now owns 391,844 shares of the energy company’s stock valued at $1,018,000 after purchasing an additional 11,148 shares in the last quarter. Finally, Isthmus Partners LLC raised its stake in Northern Oil & Gas by 60.7% in the second quarter. Isthmus Partners LLC now owns 270,642 shares of the energy company’s stock valued at $379,000 after purchasing an additional 102,198 shares in the last quarter.

A number of brokerages have recently issued reports on NOG. Zacks Investment Research raised shares of Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 target price for the company in a research report on Wednesday, October 11th. Imperial Capital began coverage on shares of Northern Oil & Gas in a research report on Tuesday, October 3rd. They issued an “in-line” rating and a $1.00 target price for the company. Finally, Royal Bank Of Canada set a $2.00 target price on shares of Northern Oil & Gas and gave the company a “hold” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. Northern Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $1.50.

Shares of Northern Oil & Gas (NYSEAMERICAN NOG) opened at $1.72 on Friday. Northern Oil & Gas has a 52-week low of $0.63 and a 52-week high of $4.00.

Northern Oil & Gas (NYSEAMERICAN:NOG) last announced its earnings results on Wednesday, November 8th. The energy company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. The business had revenue of $54.26 million during the quarter, compared to the consensus estimate of $51.04 million. The company’s revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS.

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Northern Oil & Gas Company Profile

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.

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