Capital One Financial Estimates NOG FY2024 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Stock analysts at Capital One Financial dropped their FY2024 earnings per share (EPS) estimates for Northern Oil and Gas in a research report issued on Tuesday, January 21st. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $5.27 per share for the year, down from their previous estimate of $5.45. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.37 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ FY2025 earnings at $5.43 EPS.

Other equities analysts have also recently issued reports about the company. Piper Sandler cut their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Truist Financial upped their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a research note on Friday, January 10th. Finally, Mizuho cut 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 research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Northern Oil and Gas Stock Down 1.2 %

NOG opened at $39.41 on Thursday. The business’s fifty day simple moving average is $40.04 and its 200 day simple moving average is $38.85. Northern Oil and Gas has a 52 week low of $31.13 and a 52 week high of $44.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The stock has a market cap of $3.93 billion, a PE ratio of 4.73 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly 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. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm 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 firm earned $1.73 EPS. The business’s revenue for the quarter was up 140.0% compared to the same quarter last year.

Institutional Trading of Northern Oil and Gas

Several large investors have recently added to or reduced their stakes in NOG. Legacy Investment Solutions LLC purchased a new stake in shares of Northern Oil and Gas in the 3rd quarter worth about $25,000. Signaturefd LLC raised its stake in Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after buying an additional 427 shares in the last quarter. Quarry LP lifted its holdings in 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 buying an additional 874 shares during the period. Blue Trust Inc. boosted its position in Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after acquiring an additional 801 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after acquiring an additional 259 shares during the period. Institutional investors own 98.80% of the company’s stock.

Insider Activity

In other news, President Adam A. Dirlam sold 836 shares of the business’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 transaction of $32,604.00. Following the transaction, the president now directly owns 96,223 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 1,836 shares of company stock valued at $72,869. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is 20.17%.

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.