FY2024 EPS Estimate for Northern Oil and Gas Cut by Analyst

Northern Oil and Gas, Inc. (NYSE:NOG) – Equities research analysts at Capital One Financial reduced their FY2024 earnings estimates for Northern Oil and Gas in a research note issued on Tuesday, January 21st. Capital One Financial analyst P. Johnston now expects that the company will earn $5.27 per share for the year, down from their previous estimate of $5.45. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.37 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ FY2025 earnings at $5.43 EPS.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping 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 business’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 EPS.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective for the company. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Monday, December 16th. Piper Sandler decreased their price target on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Truist Financial boosted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price on shares of Northern Oil and Gas in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.50.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $39.85 on Thursday. The stock has a fifty day moving average price of $40.05 and a 200 day moving average price of $38.85. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas has a 52 week low of $31.13 and a 52 week high of $44.31. The firm has a market capitalization of $3.98 billion, a P/E ratio of 4.78 and a beta of 1.85.

Institutional Investors Weigh In On Northern Oil and Gas

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares in the last quarter. Tributary Capital Management LLC boosted its holdings in Northern Oil and Gas by 11.8% in the fourth quarter. Tributary Capital Management LLC now owns 588,487 shares of the company’s stock valued at $21,868,000 after purchasing an additional 62,300 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Northern Oil and Gas by 23.3% in 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. Janney Montgomery Scott LLC grew its stake in Northern Oil and Gas by 17.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,743 shares of the company’s stock valued at $362,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Northern Oil and Gas by 11.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 30,532 shares of the company’s stock worth $1,135,000 after purchasing an additional 3,239 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,836 shares of company stock valued at $72,869 over the last quarter. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio is presently 20.17%.

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.