Q4 2024 EPS Estimates for Northern Oil and Gas, Inc. Cut by Analyst (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOG) – Equities researchers at Capital One Financial lowered their Q4 2024 earnings per share estimates for shares of Northern Oil and Gas in a research report issued on Tuesday, April 30th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $1.31 per share for the quarter, down from their prior estimate of $1.34. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.53 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ FY2025 earnings at $5.39 EPS.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The company had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The firm’s revenue was down 31.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 EPS.

Other research analysts also recently issued reports about the company. Citigroup cut their price objective on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday. Raymond James lowered their price target on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Truist Financial boosted their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler boosted their price target on Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Finally, Morgan Stanley boosted their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average price target of $47.90.

Northern Oil and Gas Trading Up 0.7 %

Shares of NYSE:NOG opened at $40.26 on Thursday. The stock has a 50 day moving average of $39.61 and a 200 day moving average of $37.36. The company has a market cap of $4.07 billion, a PE ratio of 6.53 and a beta of 1.84. The company has a current ratio of 0.96, a quick ratio of 1.32 and a debt-to-equity ratio of 0.97. Northern Oil and Gas has a 12-month low of $29.57 and a 12-month high of $43.75.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.97%. Northern Oil and Gas’s dividend payout ratio (DPR) is 25.93%.

Insider Transactions at Northern Oil and Gas

In other news, insider James B. Evans sold 945 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the transaction, the insider now owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider James B. Evans sold 945 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the transaction, the insider now owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the transaction, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock valued at $436,614 in the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Northern Oil and Gas by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after buying an additional 2,827,642 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Northern Oil and Gas by 19.0% during the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after purchasing an additional 605,197 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Northern Oil and Gas by 27.0% during the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after purchasing an additional 545,297 shares during the last quarter. Capstone Investment Advisors LLC lifted its stake in shares of Northern Oil and Gas by 8,679.3% during the 1st 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, Dimensional Fund Advisors LP lifted its stake in shares of Northern Oil and Gas by 30.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after purchasing an additional 324,958 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

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.