FY2024 EPS Estimates for NOG Lifted by Capital One Financial

Northern Oil and Gas, Inc. (NYSE:NOG) – Analysts at Capital One Financial increased their FY2024 EPS estimates for shares of Northern Oil and Gas in a report released on Wednesday, January 29th. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $5.28 per share for the year, up from their prior estimate of $5.27. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.32 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ Q4 2024 earnings at $1.14 EPS, FY2025 earnings at $5.47 EPS and FY2026 earnings at $5.43 EPS.

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

A number of other research firms have also issued reports on NOG. Piper Sandler lowered their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial lifted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Monday, December 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $45.00 target price on shares of Northern Oil and Gas in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has an average rating of “Hold” and an average price target of $47.56.

Northern Oil and Gas Stock Down 3.3 %

Shares of NOG stock opened at $35.93 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market cap of $3.59 billion, a PE ratio of 4.31 and a beta of 1.85. The business’s fifty day moving average is $39.62 and its 200-day moving average is $38.81. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $44.31.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.01%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is currently 21.61%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 1,836 shares of company stock worth $72,869. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Northern Oil and Gas

A number of hedge funds have recently made changes to their positions in NOG. Legacy Investment Solutions LLC purchased a new position in Northern Oil and Gas in the third quarter valued at about $25,000. Signaturefd LLC lifted its holdings in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after buying an additional 427 shares during the last quarter. Quarry LP grew its stake in shares of Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares in the last quarter. Blue Trust Inc. increased its holdings in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after acquiring an additional 259 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other 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.