Northern Oil and Gas (NYSE:NOG) Cut to “Equal Weight” at Capital One Financial

Northern Oil and Gas (NYSE:NOG) was downgraded by equities researchers at Capital One Financial from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Friday, Marketbeat Ratings 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 research analysts also recently commented on NOG. Royal Bank of Canada decreased their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Truist Financial lifted their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Monday, December 16th. Finally, Piper Sandler decreased their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.44.

Northern Oil and Gas Trading Down 6.7 %

Shares of NOG opened at $33.01 on Friday. The firm’s 50 day simple moving average is $37.47 and its 200 day simple moving average is $38.27. The company has a market capitalization of $3.29 billion, a P/E ratio of 6.42 and a beta of 1.81. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. Northern Oil and Gas has a 1-year low of $32.81 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The company had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Sell-side analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the firm’s 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 in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new position in shares of Northern Oil and Gas in the fourth quarter worth approximately $1,128,000. GTS Securities LLC boosted its holdings in Northern Oil and Gas by 238.2% in the fourth quarter. GTS Securities LLC now owns 22,318 shares of the company’s stock valued at $829,000 after acquiring an additional 15,718 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Northern Oil and Gas in the fourth quarter valued at $1,683,000. Woodline Partners LP bought a new stake in Northern Oil and Gas in the fourth quarter valued at $997,000. Finally, iSAM Funds UK Ltd bought a new stake in Northern Oil and Gas in the fourth quarter valued at $373,000. Institutional investors own 98.80% of the company’s stock.

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.