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. The Company leases approximately 165,910 net acres, all located in the Williston Basin. The Company engages in oil exploration and production through non-operated working interests in wells drilled and completed in spacing units that include its acreage. The Company's proved reserves are approximately 65.3 million barrels of oil equivalent (MMBoe).
Industry, Sector and Symbol:
- Sector: Oils/Energy
- Industry: Oil Gas & Consumable Fuels
- Sub-Industry: Oil & Gas Exploration & Production
- Exchange: NYSEMKT
- Symbol: NOG
- CUSIP: 66553110
Companies Related to Northern Oil & Gas:
- Previous Close: $3.05
- 50 Day Moving Average: $3.35
- 200 Day Moving Average: $2.87
- 52-Week Range: $1.55 - $5.85
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 38.13
- P/E Growth: 3.21
- Market Cap: $186.78M
- Outstanding Shares: 61,239,000
- Beta: 1.1
What is Northern Oil & Gas' stock symbol?
Northern Oil & Gas trades on the New York Stock Exchange (NYSE)MKT under the ticker symbol "NOG."
Where is Northern Oil & Gas' stock going? Where will Northern Oil & Gas' stock price be in 2017?
6 equities research analysts have issued twelve-month price targets for Northern Oil & Gas' stock. Their forecasts range from $3.00 to $5.00. On average, they expect Northern Oil & Gas' stock price to reach $4.00 in the next year.
When will Northern Oil & Gas announce their earnings?
Northern Oil & Gas is scheduled to release their next quarterly earnings announcement on Tuesday, February, 28th 2017.
What are analysts saying about Northern Oil & Gas stock?
Here are some recent quotes from research analysts about Northern Oil & Gas stock:
According to Zacks Investment Research, "NORTHRN OIL & GAS, Inc. is an exploration and production company based in Wayzata, Minnesota. Northern Oil's core area of focus is the Williston Basin, specifically the Mountrail County, North Dakota area Bakken Play. Northern Oil's secondary objective is conventional, 3D driven, oil and gas exploration and development throughout the Rocky Mountain region. " (1/11/2017)
National Securities analysts commented, "Northern saw its quarterly production decline in 1Q16, as 3rd party operators curtailed production. For the quarter, Northern produced 13.6 thousand barrels of oil equivalent per day (Mboe/d), 6% lower than our projection of 14.5 Mboe/d, but within its range of guidance. Moreover, we recognize a 14% sequential decline, driven by the decisions of its 3rd party operators to slow production in the quarter. Investors should certainly view this as a response to persistently low oil prices, while recognizing this as a vulnerability for Northern (due to its non-operated business model). Still, with the aforementioned "non-op" model, it provides Northern the flexibility to pick and choose only those wells which surpass the company’s 25% return benchmark. As it relates to pricing, Northern earned $47.48 per barrel (bbl) of oil in 1Q16, 29% lower on a sequential basis but 38% higher than the benchmark price for WTI crude during the quarter. We attribute the positive spread to Northern’s consistently active hedging program.
The lack of 2017 hedges, signals to us that Northern may be anticipating an overall improvement in oil prices. Where we generally see Northern, hedged anywhere from 12-18 months out, we note the absence of any 2017 positions at this point. With North American rig counts reaching 50 year lows, we suspect that Northern is anticipating an increase in oil prices, which in terms of hedging, allows them to lock in higher prices (and resultant cash flow), if they remain patient. Still, for 2Q16 we note 5,000 bbls per day hedged at $90 bbl, along with 5,000 bbls per day hedged in the 3rd and 4th quarters, at $65 per bbl (46% higher than current prices).
We trim our price target to $5, and thus downgrade Northern to NEUTRAL given its current price. Given our $5 target, we now see just 6% of additional upside, moving the issue into NEUTRAL territory, given our methodology. We value Northern on the basis of daily production, proved reserves, and projected EBITDA. We make additional balance sheet adjustments, to account for net debt, as well as a working capital deficit.
Who owns Northern Oil & Gas stock?
Northern Oil & Gas' stock is owned by a variety of of institutional and retail investors. Top institutional investors include Elliott Management Corp (4.00%), State Street Corp (2.01%), FMR LLC (1.90%), Dimensional Fund Advisors LP (1.75%), Oxford Asset Management (0.81%) and Renaissance Technologies LLC (0.54%).
Who sold Northern Oil & Gas stock? Who is selling Northern Oil & Gas stock?
Northern Oil & Gas' stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, Renaissance Technologies LLC, Dimensional Fund Advisors LP, Oxford Asset Management, Putnam Investments LLC and New York State Teachers Retirement System.
Who bought Northern Oil & Gas stock? Who is buying Northern Oil & Gas stock?
Northern Oil & Gas' stock was bought by a variety of institutional investors in the last quarter, including Elliott Management Corp, A.R.T. Advisors LLC, AQR Capital Management LLC, State Street Corp and Comerica Bank.
How do I buy Northern Oil & Gas stock?
Shares of Northern Oil & Gas can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
How much does a share of Northern Oil & Gas stock cost?
One share of Northern Oil & Gas stock can currently be purchased for approximately $3.05.