Research Analysts Issue Forecasts for NOG FY2024 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Stock analysts at Capital One Financial boosted their FY2024 earnings estimates for Northern Oil and Gas in a research note issued on Monday, November 18th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $5.44 for the year, up from their previous estimate of $5.28. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.38 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ Q4 2024 earnings at $1.31 EPS and FY2025 earnings at $5.20 EPS.

NOG has been the topic of several other research reports. Piper Sandler lifted their price target on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Monday. Mizuho began coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target on the stock. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. Morgan Stanley decreased their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial raised their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Northern Oil and Gas Trading Down 0.4 %

NYSE NOG opened at $41.08 on Wednesday. The stock has a market cap of $4.10 billion, a P/E ratio of 4.93 and a beta of 1.80. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The stock has a 50 day simple moving average of $37.64 and a two-hundred day simple moving average of $38.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

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

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently made changes to their positions in NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in 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 acquiring an additional 320 shares in the last quarter. Easterly Investment Partners LLC raised its stake in shares of 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 worth $1,792,000 after purchasing an additional 380 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of 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. CWM LLC boosted its position in shares of Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company’s stock valued at $79,000 after buying an additional 444 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after buying an additional 528 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Chad W. Allen sold 1,500 shares of Northern Oil and Gas stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is owned by insiders.

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.