Zacks Research Has Negative Estimate for NOG FY2024 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Investment analysts at Zacks Research lowered their FY2024 EPS estimates for shares of Northern Oil and Gas in a research note issued on Friday, February 14th. Zacks Research analyst N. Choudhury now forecasts that the company will earn $5.22 per share for the year, down from their prior forecast of $5.31. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.30 per share. Zacks Research also issued estimates for Northern Oil and Gas’ Q4 2024 earnings at $1.08 EPS, Q1 2025 earnings at $1.18 EPS, Q2 2025 earnings at $1.20 EPS, Q3 2025 earnings at $1.30 EPS, FY2025 earnings at $5.24 EPS, Q1 2026 earnings at $1.32 EPS, Q2 2026 earnings at $1.34 EPS, Q3 2026 earnings at $1.44 EPS and FY2026 earnings at $5.67 EPS.

A number of other equities analysts also recently commented on NOG. Piper Sandler reduced their price objective 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, January 29th. Royal Bank of Canada reduced their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday. Truist Financial raised 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 report on Monday, January 13th. Finally, Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas has a consensus rating of “Hold” and an average price target of $47.00.

Northern Oil and Gas Price Performance

NYSE:NOG opened at $35.12 on Monday. The company has a 50-day moving average of $38.07 and a 200-day moving average of $38.41. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 4.22 and a beta of 1.81. Northern Oil and Gas has a 52 week low of $33.05 and a 52 week high of $44.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a dividend of $0.45 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a yield of 5.13%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, January 6th. The shares were 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. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Icon Wealth Advisors LLC bought a new position in Northern Oil and Gas during the 3rd quarter worth approximately $828,000. State of Alaska Department of Revenue lifted its stake in Northern Oil and Gas by 36.1% in the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock valued at $2,877,000 after buying an additional 20,550 shares in the last quarter. Heritage Family Offices LLP bought a new position in Northern Oil and Gas in the fourth quarter valued at approximately $244,000. Tributary Capital Management LLC lifted its stake in Northern Oil and Gas by 11.8% in the fourth quarter. Tributary Capital Management LLC now owns 588,487 shares of the company’s stock valued at $21,868,000 after buying an additional 62,300 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Northern Oil and Gas by 21.0% in the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after buying an additional 368 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

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.