Q4 2024 Earnings Estimate for Northern Oil and Gas, Inc. Issued By Capital One Financial (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOG) – Investment analysts at Capital One Financial upped their Q4 2024 EPS estimates for Northern Oil and Gas in a research report issued on Monday, August 19th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $1.76 per share for the quarter, up from their prior estimate of $1.59. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.12 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ FY2025 earnings at $6.58 EPS.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The business had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. During the same period in the previous year, the business posted $1.49 earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year.

A number of other research analysts have also issued reports on the stock. Truist Financial boosted their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Bank of America upped their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler lowered their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, Citigroup lowered their target price on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Northern Oil and Gas Trading Up 0.7 %

Shares of Northern Oil and Gas stock opened at $37.81 on Tuesday. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.80. The company has a quick ratio of 0.96, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. The company’s 50-day simple moving average is $38.77 and its 200-day simple moving average is $38.64. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 6.13 and a beta of 1.79.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently modified their holdings of NOG. Vanguard Group Inc. lifted its stake in shares of Northern Oil and Gas by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock valued at $392,480,000 after buying an additional 2,827,642 shares during the period. Dimensional Fund Advisors LP increased its position in Northern Oil and Gas by 45.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after purchasing an additional 789,985 shares during the last quarter. American Century Companies Inc. increased its position in Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after purchasing an additional 552,645 shares during the last quarter. Capstone Investment Advisors LLC increased its position in Northern Oil and Gas by 8,679.3% during the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after purchasing an additional 507,129 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Northern Oil and Gas by 13.8% during the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after purchasing an additional 212,030 shares during the last quarter. Hedge funds and other 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 1,392 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.88, for a total value of $52,728.96. Following the sale, the president now owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the transaction, the president now owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. The disclosure for this sale can be found here. Insiders have sold 6,534 shares of company stock valued at $252,144 over the last quarter. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio is 27.23%.

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.