NOG FY2024 EPS Forecast Raised by Capital One Financial

Northern Oil and Gas, Inc. (NYSE:NOG) – Capital One Financial boosted their FY2024 earnings estimates for shares of Northern Oil and Gas in a report issued on Tuesday, February 18th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $5.33 for the year, up from their previous estimate of $5.28. Capital One Financial has a “Equal Weight” rating on the stock. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.25 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ Q4 2024 earnings at $1.19 EPS.

Several other analysts also recently issued reports on the stock. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. Royal Bank of Canada lowered 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 increased 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. Finally, Piper Sandler cut their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas presently has an average rating of “Hold” and a consensus target price of $47.00.

Northern Oil and Gas Trading Down 6.7 %

NYSE:NOG opened at $33.01 on Thursday. The company has a market capitalization of $3.29 billion, a P/E ratio of 6.42 and a beta of 1.81. The stock’s 50 day moving average price is $37.62 and its 200 day moving average price is $38.30. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas has a 52 week low of $32.81 and a 52 week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.16). The business had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.96%.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors have recently added to or reduced their stakes in NOG. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter valued at $25,000. Headlands Technologies LLC acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at about $29,000. Signaturefd LLC raised its holdings in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after acquiring an additional 427 shares in the last quarter. Blue Trust Inc. raised its holdings in Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after acquiring an additional 801 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after purchasing an additional 259 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas 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 owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.45%. The ex-dividend date is Friday, March 28th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 35.02%.

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.