Northern Oil and Gas, Inc. (NYSE:NOG) to Post FY2024 Earnings of $5.18 Per Share, Capital One Financial Forecasts

Northern Oil and Gas, Inc. (NYSE:NOG) – Research analysts at Capital One Financial lifted their FY2024 earnings per share (EPS) estimates for Northern Oil and Gas in a research report issued on Wednesday, April 17th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $5.18 per share for the year, up from their previous forecast of $5.16. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.43 per share.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Citigroup dropped their price objective on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Piper Sandler dropped their price objective on Northern Oil and Gas from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Morgan Stanley increased their price objective on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Jefferies Financial Group increased their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.60.

Northern Oil and Gas Stock Down 0.9 %

NOG stock opened at $42.06 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $37.80 and its 200 day moving average is $37.16. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 4.19 and a beta of 1.86. Northern Oil and Gas has a 1-year low of $29.57 and a 1-year high of $43.64.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.03). The company had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 earnings per share.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, March 27th. Northern Oil and Gas’s payout ratio is 15.94%.

Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the transaction, the president now directly owns 122,359 shares in the company, valued at $4,649,642. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the sale, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the sale, the insider now owns 73,753 shares of the company’s stock, valued at $3,097,626. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,944 shares of company stock worth $436,614. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC lifted its position in shares of Northern Oil and Gas by 4.8% during the 3rd quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock valued at $246,000 after buying an additional 282 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Northern Oil and Gas by 1.3% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock worth $823,000 after purchasing an additional 290 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Northern Oil and Gas by 3.3% in the 4th quarter. Renaissance Technologies LLC now owns 9,300 shares of the company’s stock worth $287,000 after purchasing an additional 300 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Northern Oil and Gas by 1.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock worth $1,197,000 after purchasing an additional 306 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in Northern Oil and Gas by 1.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 27,673 shares of the company’s stock worth $1,113,000 after purchasing an additional 309 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.