Northern Oil and Gas (NYSE:NOG) Cut to “Equal Weight” at Capital One Financial

Capital One Financial cut shares of Northern Oil and Gas (NYSE:NOG) from an overweight rating to an equal weight rating in a research note published on Friday morning, Marketbeat reports. Capital One Financial also issued estimates for Northern Oil and Gas’ Q4 2024 earnings at $1.19 EPS, FY2024 earnings at $5.33 EPS, Q1 2025 earnings at $1.20 EPS, Q1 2025 earnings at $1.13 EPS, Q2 2025 earnings at $1.09 EPS, Q2 2025 earnings at $1.19 EPS, Q3 2025 earnings at $1.24 EPS, Q3 2025 earnings at $1.10 EPS, Q4 2025 earnings at $1.17 EPS, Q4 2025 earnings at $1.32 EPS, FY2025 earnings at $4.49 EPS, FY2025 earnings at $4.95 EPS, FY2026 earnings at $4.93 EPS and FY2028 earnings at $4.90 EPS.

Other analysts have also recently issued reports about the company. Piper Sandler decreased their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. Truist Financial raised their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada lowered their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas presently has an average rating of “Hold” and an average target price of $47.44.

Northern Oil and Gas Price Performance

NOG stock opened at $33.01 on Friday. The business’s fifty day moving average price is $37.47 and its 200 day moving average price is $38.29. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. Northern Oil and Gas has a 12-month low of $32.81 and a 12-month high of $44.31. The company has a market capitalization of $3.29 billion, a PE ratio of 6.42 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The business had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. On average, sell-side analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is currently 32.68%.

Insiders Place Their Bets

In related news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction dated 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 owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NOG. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas in the third quarter worth about $25,000. Headlands Technologies LLC bought a new stake in Northern Oil and Gas in the fourth quarter valued at about $29,000. Signaturefd LLC increased its holdings in Northern Oil and Gas by 100.5% in the third 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. 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 valued at $44,000 after buying an additional 801 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds 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.