NOG FY2024 EPS Forecast Boosted by Capital One Financial

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Research analysts at Capital One Financial lifted their FY2024 earnings per share estimates for shares of Northern Oil and Gas in a note issued to investors on Tuesday, February 18th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $5.33 for the year, up from their prior estimate of $5.28. Capital One Financial currently has a "Equal Weight" rating on the stock. The consensus estimate for Northern Oil and Gas' current full-year earnings is $5.25 per share. Capital One Financial also issued estimates for Northern Oil and Gas' Q4 2024 earnings at $1.19 EPS.

A number of other analysts also recently weighed in on NOG. Royal Bank of Canada dropped their target price 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. Piper Sandler dropped their target price 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 downgraded 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. Finally, Truist Financial boosted their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $47.00.

Northern Oil and Gas Price Performance

NYSE:NOG traded down $2.38 during mid-day trading on Thursday, reaching $33.01. The stock had a trading volume of 2,751,072 shares, compared to its average volume of 1,432,546. The firm has a 50 day moving average price of $37.62 and a two-hundred day moving average price of $38.30. The stock has a market capitalization of $3.29 billion, a P/E ratio of 6.42 and a beta of 1.81. Northern Oil and Gas has a one year low of $32.81 and a one year high of $44.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.16). The firm had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a return on equity of 24.96% and a net margin of 23.38%.

Northern Oil and Gas Increases Dividend

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

Insiders Place Their Bets

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. Insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds have recently made changes to their positions in NOG. CWM LLC increased its stake in shares of Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company's stock valued at $79,000 after buying an additional 444 shares during the period. Creative Planning increased its stake in shares of Northern Oil and Gas by 18.1% during the third quarter. Creative Planning now owns 27,994 shares of the company's stock valued at $991,000 after buying an additional 4,282 shares during the period. Signaturefd LLC increased its stake in shares of Northern Oil and Gas by 100.5% during 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 period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Northern Oil and Gas by 71.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 27,293 shares of the company's stock valued at $966,000 after buying an additional 11,397 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its stake in shares of Northern Oil and Gas by 8.3% during the third quarter. Mount Yale Investment Advisors LLC now owns 10,114 shares of the company's stock valued at $358,000 after buying an additional 777 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.