Brokers Offer Predictions for Northern Oil and Gas, Inc.’s Q4 2024 Earnings (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOG) – Equities research analysts at Capital One Financial dropped their Q4 2024 EPS estimates for shares of Northern Oil and Gas in a note issued to investors on Tuesday, April 30th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $1.31 per share for the quarter, down from their previous estimate of $1.34. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.53 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ FY2025 earnings at $5.39 EPS.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.18 by $0.10. The company had revenue of $396.35 million during the quarter, compared to analysts’ expectations of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The business’s revenue for the quarter was down 31.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.76 EPS.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus lifted their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Piper Sandler lifted their price target on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Bank of America lowered shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 target price on the stock. in a report on Friday, January 5th. Truist Financial boosted their target price on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.90.

Northern Oil and Gas Trading Up 0.7 %

Shares of Northern Oil and Gas stock opened at $40.26 on Thursday. The firm has a market capitalization of $4.07 billion, a PE ratio of 6.53 and a beta of 1.84. The company has a current ratio of 0.96, a quick ratio of 1.32 and a debt-to-equity ratio of 0.97. The firm’s 50 day moving average is $39.61 and its 200 day moving average is $37.36. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.75.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Insider Buying and Selling

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider James B. Evans sold 945 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the transaction, the president now owns 122,359 shares of the company’s stock, valued at $4,649,642. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock valued at $436,614 over the last ninety days. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Northern Oil and Gas by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after buying an additional 2,827,642 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Northern Oil and Gas by 19.0% in the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after buying an additional 605,197 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Northern Oil and Gas by 27.0% in the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after buying an additional 545,297 shares during the last quarter. Capstone Investment Advisors LLC boosted its holdings in shares of Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after buying an additional 507,129 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Northern Oil and Gas by 30.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after buying an additional 324,958 shares during 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.