Research Analysts Set Expectations for NOG FY2024 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Equities researchers at Capital One Financial raised their FY2024 earnings estimates for shares of Northern Oil and Gas in a research report issued on Wednesday, January 29th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $5.28 for the year, up from their previous estimate of $5.27. The consensus estimate for Northern Oil and Gas' current full-year earnings is $5.30 per share. Capital One Financial also issued estimates for Northern Oil and Gas' Q4 2024 earnings at $1.14 EPS, FY2025 earnings at $5.47 EPS and FY2026 earnings at $5.43 EPS.

Several other equities research analysts also recently commented on NOG. 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 report on Monday, January 13th. Piper Sandler reduced their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Mizuho downgraded 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 note on Monday, December 16th. Finally, 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 report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of "Hold" and a consensus target price of $47.56.

Northern Oil and Gas Stock Up 3.0 %

Shares of Northern Oil and Gas stock traded up $1.09 during midday trading on Friday, hitting $36.94. The company had a trading volume of 826,357 shares, compared to its average volume of 1,370,176. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week 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. The stock has a market capitalization of $3.69 billion, a P/E ratio of 4.42 and a beta of 1.82. The company has a 50 day moving average of $39.48 and a 200 day moving average of $38.74.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analysts' expectations 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 revenue was up 140.0% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors have recently bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new stake in shares of Northern Oil and Gas in the third quarter worth $25,000. Signaturefd LLC increased its stake in Northern Oil and Gas by 100.5% in the 3rd 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 raised its holdings in Northern Oil and Gas by 338.8% during the second quarter. Quarry LP now owns 1,132 shares of the company's stock valued at $42,000 after acquiring an additional 874 shares during the period. Blue Trust Inc. lifted its position in shares of Northern Oil and Gas by 177.2% in the fourth 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 boosted its stake in shares of Northern Oil and Gas by 23.3% in the fourth 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. 98.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares in the company, valued at approximately $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 accessible through this hyperlink. Over the last quarter, insiders have sold 1,836 shares of company stock valued at $72,869. 2.80% of the stock is owned by insiders.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio is 21.61%.

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.