Zacks Research Brokers Decrease Earnings Estimates for NOG

Northern Oil and Gas, Inc. (NYSE:NOG) – Analysts at Zacks Research reduced their Q4 2024 earnings per share estimates for Northern Oil and Gas in a report released on Monday, November 18th. Zacks Research analyst N. Choudhury now anticipates that the company will post earnings of $1.33 per share for the quarter, down from their prior estimate of $1.40. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.42 per share. Zacks Research also issued estimates for Northern Oil and Gas’ Q2 2025 earnings at $1.30 EPS, FY2025 earnings at $5.55 EPS, Q1 2026 earnings at $1.61 EPS, Q2 2026 earnings at $1.44 EPS, Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $6.33 EPS.

A number of other analysts also recently issued reports on the company. Truist Financial raised their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler upped their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. Mizuho began coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target on the stock. Finally, Morgan Stanley dropped their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Northern Oil and Gas Trading Up 1.8 %

Shares of Northern Oil and Gas stock opened at $42.32 on Thursday. The stock has a 50 day moving average of $37.94 and a 200 day moving average of $38.52. 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 firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 4.99 and a beta of 1.80. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80.

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

Institutional Investors Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in Northern Oil and Gas by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after acquiring an additional 100,761 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Northern Oil and Gas by 21.0% during the third quarter. Public Employees Retirement System of Ohio now owns 100,140 shares of the company’s stock worth $3,546,000 after purchasing an additional 17,383 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of Northern Oil and Gas by 4.9% during the third quarter. Hodges Capital Management Inc. now owns 44,580 shares of the company’s stock worth $1,579,000 after purchasing an additional 2,100 shares during the period. Legacy Investment Solutions LLC purchased a new position in Northern Oil and Gas in the 3rd quarter valued at $25,000. Finally, Stifel Financial Corp raised its position in Northern Oil and Gas by 7.6% during the 3rd quarter. Stifel Financial Corp now owns 87,254 shares of the company’s stock worth $3,090,000 after buying an additional 6,168 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at $4,153,226. The trade was a 2.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Chad W. Allen sold 1,500 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now 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 over the last 90 days. 2.80% of the stock is owned by insiders.

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.