Northern Oil and Gas (NYSE:NOG) Lowered to Equal Weight Rating by Capital One Financial

Capital One Financial downgraded shares of Northern Oil and Gas (NYSE:NOG - Free Report) from an overweight rating to an equal weight rating in a research note released on Friday morning, MarketBeat reports. Capital One Financial also issued estimates for Northern Oil and Gas' Q4 2024 earnings at $1.19 EPS, FY2024 earnings at $5.33 EPS, Q1 2025 earnings at $1.20 EPS, Q1 2025 earnings at $1.13 EPS, Q2 2025 earnings at $1.09 EPS, Q2 2025 earnings at $1.19 EPS, Q3 2025 earnings at $1.24 EPS, Q3 2025 earnings at $1.10 EPS, Q4 2025 earnings at $1.17 EPS, Q4 2025 earnings at $1.32 EPS, FY2025 earnings at $4.49 EPS, FY2025 earnings at $4.95 EPS, FY2026 earnings at $4.93 EPS and FY2028 earnings at $4.90 EPS.

Several other equities analysts have also commented on the company. Royal Bank of Canada reduced their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Truist Financial boosted their price objective on shares of 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 target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Finally, Mizuho downgraded shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas presently has an average rating of "Hold" and a consensus target price of $46.89.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock traded down $1.07 during mid-day trading on Friday, hitting $32.23. 1,605,723 shares of the company traded hands, compared to its average volume of 1,459,321. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. Northern Oil and Gas has a one year low of $32.14 and a one year high of $44.31. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 6.27 and a beta of 1.81. The stock has a fifty day moving average price of $37.35 and a 200-day moving average price of $38.26.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.16). The company had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. On average, equities analysts predict that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a dividend of $0.45 per share. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.59%. Northern Oil and Gas's dividend payout ratio is presently 32.68%.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated 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 owns 96,223 shares of the company's stock, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company's stock.

Institutional Trading of Northern Oil and Gas

Several large investors have recently bought and sold shares of NOG. Vanguard Group Inc. lifted its stake in shares of Northern Oil and Gas by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock valued at $418,916,000 after purchasing an additional 166,501 shares during the period. American Century Companies Inc. increased its stake in shares of Northern Oil and Gas by 3.9% in the 4th quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock worth $242,937,000 after acquiring an additional 243,531 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Northern Oil and Gas by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company's stock valued at $122,507,000 after acquiring an additional 68,631 shares during the period. Geode Capital Management LLC lifted its position in Northern Oil and Gas by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company's stock valued at $80,884,000 after acquiring an additional 100,761 shares during the period. Finally, Copeland Capital Management LLC boosted its stake in Northern Oil and Gas by 0.9% during the fourth quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company's stock worth $78,590,000 after acquiring an additional 18,195 shares in the last quarter. 98.80% of the stock is owned by 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.