NOG FY2024 EPS Estimate Raised by Capital One Financial

Northern Oil and Gas, Inc. (NYSE:NOG) – Stock analysts at Capital One Financial boosted their FY2024 earnings per share (EPS) estimates for shares of Northern Oil and Gas in a note issued to investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $5.45 for the year, up from their prior estimate of $5.44. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.40 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ FY2025 earnings at $5.58 EPS.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. During the same quarter in the prior year, the company earned $1.73 earnings per share. The company’s quarterly revenue was up 140.0% on a year-over-year basis.

NOG has been the topic of a number of other reports. Truist Financial lifted their target price on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley dropped their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. 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. Piper Sandler reduced their target price on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Finally, Mizuho lowered 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 analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.20.

Northern Oil and Gas Trading Up 1.3 %

NYSE NOG opened at $39.93 on Friday. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $44.31. The business has a fifty day simple moving average of $39.79 and a 200 day simple moving average of $38.68. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $3.99 billion, a P/E ratio of 4.79 and a beta of 1.85.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s 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 sale, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NOG. Legacy Investment Solutions LLC bought a new stake in shares of Northern Oil and Gas during the third quarter valued at approximately $25,000. Signaturefd LLC boosted 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 purchasing an additional 427 shares during the last quarter. Quarry LP increased its holdings in shares of Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after purchasing an additional 874 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Northern Oil and Gas by 58.6% in the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock worth $62,000 after buying an additional 647 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock valued at $67,000 after buying an additional 1,048 shares during 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.