NOG FY2024 EPS Estimate Raised by Capital One Financial

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Stock analysts at Capital One Financial boosted their FY2024 earnings estimates for Northern Oil and Gas in a research report issued to clients and investors on Monday, November 18th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $5.44 per share for the year, up from their previous estimate of $5.28. The consensus estimate for Northern Oil and Gas' current full-year earnings is $5.38 per share. Capital One Financial also issued estimates for Northern Oil and Gas' Q4 2024 earnings at $1.31 EPS and FY2025 earnings at $5.20 EPS.

A number of other equities analysts also recently commented on the stock. Truist Financial upped their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. StockNews.com cut Northern Oil and Gas from a "hold" rating to a "sell" rating in a report on Thursday, August 1st. Mizuho began coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an "outperform" rating and a $47.00 price target for the company. Royal Bank of Canada lowered Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and upped their price target for the company from $43.00 to $45.00 in a research report on Wednesday. Finally, Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Northern Oil and Gas presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock traded up $0.11 during midday trading on Wednesday, reaching $41.19. 231,255 shares of the stock traded hands, compared to its average volume of 1,312,865. The stock's fifty day moving average is $37.79 and its 200-day moving average is $38.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $43.80. The stock has a market cap of $4.11 billion, a P/E ratio of 4.93 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (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 during the quarter, compared to analysts' expectations of $540.23 million. During the same period in the prior year, the company posted $1.73 earnings per share. The company's revenue for the quarter was up 140.0% compared to the same quarter last year.

Insider Activity

In related news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now directly owns 107,876 shares in the company, valued at $4,153,226. The trade was a 2.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Chad W. Allen sold 1,500 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the sale, the chief financial officer now owns 83,792 shares in the company, valued at approximately $3,351,680. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,508 shares of company stock valued at $248,113. Company insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in Northern Oil and Gas by 17.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,992 shares of the company's stock valued at $396,000 after buying an additional 1,453 shares during the period. Vanguard Group Inc. increased its stake in shares of Northern Oil and Gas by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company's stock worth $421,857,000 after purchasing an additional 43,940 shares during the period. Seven Eight Capital LP acquired a new position in shares of Northern Oil and Gas during the first quarter worth approximately $276,000. UniSuper Management Pty Ltd bought a new stake in Northern Oil and Gas in the 1st quarter valued at $1,046,000. Finally, CANADA LIFE ASSURANCE Co grew its position in Northern Oil and Gas by 2.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 76,259 shares of the company's stock worth $3,025,000 after buying an additional 1,867 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other 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.