Capital One Financial Predicts NOG FY2024 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Analysts at Capital One Financial upped their FY2024 earnings per share estimates for Northern Oil and Gas in a note issued to investors on Wednesday, January 29th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $5.28 for the year, up from their previous forecast 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 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 company had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter last year, the company earned $1.73 earnings per share. Northern Oil and Gas’s quarterly revenue was up 140.0% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on NOG. Truist Financial boosted their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 target price on shares of Northern Oil and Gas in a research note on Friday, January 10th. Mizuho lowered 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, Piper Sandler lowered their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.56.

Northern Oil and Gas Trading Down 3.3 %

NYSE:NOG opened at $35.93 on Friday. The company has a market capitalization of $3.59 billion, a PE ratio of 4.31 and a beta of 1.85. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $44.31. The stock has a fifty day simple moving average of $39.62 and a 200-day simple moving average of $38.81. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Institutional Trading of Northern Oil and Gas

Institutional investors and hedge funds have recently bought and sold shares of the company. Xponance Inc. raised its holdings in shares of Northern Oil and Gas by 18.4% during the second quarter. Xponance Inc. now owns 6,294 shares of the company’s stock worth $234,000 after purchasing an additional 977 shares during the period. The Manufacturers Life Insurance Company raised its stake in Northern Oil and Gas by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 56,288 shares of the company’s stock worth $2,092,000 after acquiring an additional 5,192 shares during the period. Algert Global LLC acquired a new stake in shares of Northern Oil and Gas during the 2nd quarter worth approximately $340,000. Creative Planning lifted its holdings in shares of Northern Oil and Gas by 80.6% in the 2nd quarter. Creative Planning now owns 23,712 shares of the company’s stock worth $881,000 after purchasing an additional 10,580 shares during the last quarter. Finally, Quarry LP grew its stake in Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after buying an additional 874 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders sold 1,836 shares of company stock valued at $72,869. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Increases Dividend

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

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.