Q4 Earnings Forecast for NOG Issued By Roth Capital

Northern Oil and Gas, Inc. (NYSE:NOG) – Analysts at Roth Capital issued their Q4 2024 earnings estimates for Northern Oil and Gas in a research note issued on Monday, December 16th. Roth Capital analyst J. White forecasts that the company will post earnings of $1.32 per share for the quarter. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.40 per share. Roth Capital also issued estimates for Northern Oil and Gas’ Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $0.92 EPS, Q3 2025 earnings at $1.07 EPS, Q4 2025 earnings at $1.25 EPS and FY2025 earnings at $4.34 EPS.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The firm’s revenue was up 140.0% on a year-over-year basis.

Other research analysts also recently issued reports about the stock. Morgan Stanley decreased their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target for the company. Piper Sandler lowered their target price on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Monday, December 16th. Finally, Truist Financial raised their target price on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.20.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock opened at $35.57 on Thursday. The firm has a market capitalization of $3.55 billion, a PE ratio of 4.27 and a beta of 1.85. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $44.31. The business’s 50-day moving average price is $39.69 and its 200-day moving average price is $38.68.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio is currently 20.17%.

Insider Activity

In related news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now owns 107,876 shares in the company, valued at $4,153,226. This represents a 2.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock worth $248,113 in the last quarter. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently modified their holdings of the stock. Icon Wealth Advisors LLC bought a new position in Northern Oil and Gas in the 3rd quarter valued at approximately $828,000. American Century Companies Inc. increased its position in Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after acquiring an additional 552,645 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Northern Oil and Gas by 18.5% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 453,414 shares of the company’s stock worth $16,853,000 after purchasing an additional 70,709 shares during the period. Qsemble Capital Management LP bought a new position in Northern Oil and Gas in the second quarter worth approximately $625,000. Finally, Mutual of America Capital Management LLC lifted its position in Northern Oil and Gas by 16.3% during the second quarter. Mutual of America Capital Management LLC now owns 443,264 shares of the company’s stock valued at $16,476,000 after purchasing an additional 62,254 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

About Northern Oil and 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. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.