Equities Analysts Set Expectations for NOG FY2024 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Equities researchers at Capital One Financial raised their FY2024 EPS estimates for shares of Northern Oil and Gas in a note issued to investors on Tuesday, February 18th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $5.33 per share for the year, up from their prior forecast of $5.28. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.27 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ Q4 2024 earnings at $1.19 EPS.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%.

A number of other equities research analysts have also recently commented on the company. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research note on Monday, December 16th. Royal Bank of Canada cut their price objective 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 report on Thursday, February 13th. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial upped their target price 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.00.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $35.36 on Thursday. Northern Oil and Gas has a 52 week low of $33.17 and a 52 week high of $44.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The stock has a market cap of $3.53 billion, a P/E ratio of 4.25 and a beta of 1.81. The business’s 50 day moving average price is $37.74 and its 200-day moving average price is $38.32.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend 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 payout ratio is 20.17%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC boosted its stake in shares of Northern Oil and Gas by 24.8% during the 3rd quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after acquiring an additional 444 shares during the last quarter. Creative Planning raised its holdings in Northern Oil and Gas by 18.1% in the 3rd quarter. Creative Planning now owns 27,994 shares of the company’s stock worth $991,000 after purchasing an additional 4,282 shares during the period. Signaturefd LLC lifted its position in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Northern Oil and Gas by 71.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 27,293 shares of the company’s stock valued at $966,000 after purchasing an additional 11,397 shares during the period. Finally, Mount Yale Investment Advisors LLC raised its stake in shares of Northern Oil and Gas by 8.3% in the third quarter. Mount Yale Investment Advisors LLC now owns 10,114 shares of the company’s stock worth $358,000 after buying an additional 777 shares during the period. Hedge funds and other 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.