Zacks Research Brokers Increase Earnings Estimates for NOG

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Zacks Research raised their FY2024 earnings per share estimates for Northern Oil and Gas in a research note issued on Monday, November 18th. Zacks Research analyst N. Choudhury now expects that the company will post earnings per share of $5.47 for the year, up from their prior estimate of $5.24. The consensus estimate for Northern Oil and Gas' current full-year earnings is $5.38 per share. Zacks Research also issued estimates for Northern Oil and Gas' Q1 2025 earnings at $1.27 EPS, Q3 2025 earnings at $1.42 EPS and Q4 2025 earnings at $1.56 EPS.

NOG has been the subject of several other research reports. Piper Sandler boosted their price target on Northern Oil and Gas from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday. StockNews.com downgraded shares of Northern Oil and Gas from a "hold" rating to a "sell" rating in a research note on Thursday, August 1st. Morgan Stanley dropped 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 note on Monday, September 16th. Truist Financial lifted their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada cut shares of Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and boosted their price objective for the stock from $43.00 to $45.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

Northern Oil and Gas Trading Up 0.3 %

Northern Oil and Gas stock traded up $0.11 during midday trading on Wednesday, reaching $41.19. The stock had a trading volume of 231,255 shares, compared to its average volume of 1,312,865. 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 firm has a market cap of $4.11 billion, a price-to-earnings ratio of 4.93 and a beta of 1.80. The firm's fifty day simple moving average is $37.79 and its two-hundred day simple moving average is $38.50. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $43.80.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its 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. 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 analyst estimates of $540.23 million. Northern Oil and Gas's revenue was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS.

Insider Transactions at Northern Oil and Gas

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

Institutional Investors Weigh In On Northern Oil and Gas

A number of large investors have recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of Northern Oil and Gas during the 3rd quarter valued at approximately $25,000. Signaturefd LLC boosted its position in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company's stock worth $30,000 after purchasing an additional 427 shares in the last quarter. GAMMA Investing LLC lifted its position in Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company's stock valued at $41,000 after acquiring an additional 528 shares in the last quarter. Quarry LP lifted 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 worth $42,000 after acquiring an additional 874 shares during the period. Finally, Covestor Ltd grew its position in shares of Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company's stock valued at $67,000 after acquiring an additional 1,048 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.