FY2024 EPS Estimates for NOG Raised by Capital One Financial

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Equities research analysts at Capital One Financial increased their FY2024 earnings per share (EPS) estimates for shares of Northern Oil and Gas in a research report issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $5.45 per share for the year, up from their previous forecast 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 - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 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 firm posted $1.73 EPS. The business's quarterly revenue was up 140.0% compared to the same quarter last year.

Several other research firms have also issued reports on NOG. Royal Bank of Canada reissued a "sector perform" rating and set a $45.00 target price on shares of Northern Oil and Gas in a research note on Friday. Truist Financial increased their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Morgan Stanley cut 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 report on Monday, September 16th. Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a "buy" rating and a $53.00 target price on the stock. Finally, Piper Sandler cut their price target on shares of 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.20.

Northern Oil and Gas Stock Performance

NOG stock traded up $0.53 during midday trading on Friday, hitting $39.93. 1,542,557 shares of the stock traded hands, compared to its average volume of 1,115,093. Northern Oil and Gas has a 1-year low of $31.13 and a 1-year high of $44.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The stock's fifty day simple moving average is $39.79 and its 200-day simple moving average is $38.68. The firm has a market cap of $3.99 billion, a P/E ratio of 4.79 and a beta of 1.85.

Institutional Trading of Northern Oil and Gas

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. raised its position in Northern Oil and Gas by 1.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 141,100 shares of the company's stock worth $5,243,000 after buying an additional 2,636 shares during the last quarter. Range Financial Group LLC purchased a new position in shares of Northern Oil and Gas in the fourth quarter valued at $332,000. Insight Wealth Strategies LLC increased its holdings in Northern Oil and Gas by 2.7% during the 4th quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company's stock valued at $1,061,000 after acquiring an additional 751 shares in the last quarter. Doliver Advisors LP lifted its holdings in shares of Northern Oil and Gas by 2.9% in the fourth quarter. Doliver Advisors LP now owns 28,667 shares of the company's stock valued at $1,065,000 after purchasing an additional 800 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Insider Buying and Selling

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

Northern Oil and Gas Dividend Announcement

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

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.