Zacks Research Analysts Reduce Earnings Estimates for NOG

Northern Oil and Gas, Inc. (NYSE:NOG) – Equities research analysts at Zacks Research lowered their Q4 2024 earnings per share (EPS) estimates for shares of Northern Oil and Gas in a research note issued to investors on Monday, November 18th. Zacks Research analyst N. Choudhury now anticipates that the company will post earnings of $1.33 per share for the quarter, down from their previous forecast of $1.40. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.42 per share. Zacks Research also issued estimates for Northern Oil and Gas’ Q2 2025 earnings at $1.30 EPS, FY2025 earnings at $5.55 EPS, Q1 2026 earnings at $1.61 EPS, Q2 2026 earnings at $1.44 EPS, Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $6.33 EPS.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same period last year, the company earned $1.73 earnings per share.

Several other research analysts have also recently issued reports on the stock. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Truist Financial increased their price target on Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective on the stock. Piper Sandler raised their target price on Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Mizuho started coverage on Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price on the stock. 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 assigned a strong buy rating to the company. According to MarketBeat, Northern Oil and Gas has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Northern Oil and Gas Stock Up 1.2 %

Northern Oil and Gas stock opened at $41.57 on Thursday. Northern Oil and Gas has a 52 week low of $31.13 and a 52 week high of $43.80. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 4.99 and a beta of 1.80. The company’s 50-day moving average price is $37.79 and its two-hundred day moving average price is $38.50. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Insider Activity at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction dated Monday, October 7th. The stock was 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 directly owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock worth $248,113 in the last quarter. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of large investors have recently made changes to their positions in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Northern Oil and Gas by 1.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock valued at $849,000 after buying an additional 320 shares in the last quarter. Easterly Investment Partners LLC lifted its stake in Northern Oil and Gas by 0.8% in the third quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock valued at $1,792,000 after acquiring an additional 380 shares during the last quarter. Signaturefd LLC grew its position in Northern Oil and Gas by 100.5% in 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. CWM LLC increased 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 purchasing an additional 444 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after purchasing an additional 528 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.