Capital One Financial Research Analysts Lift Earnings Estimates for Northern Oil and Gas, Inc. (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOG) – Capital One Financial lifted their Q1 2024 earnings estimates for Northern Oil and Gas in a report issued on Wednesday, April 17th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $1.09 for the quarter, up from their prior forecast of $1.07. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.42 per share.

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

Other research analysts have also recently issued reports about the stock. Truist Financial dropped their target price on shares of Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Bank of America cut shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 target price on the stock. in a research note on Friday, January 5th. Raymond James dropped their target price on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Stifel Nicolaus dropped their target price on shares of Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Finally, Citigroup lowered their price target on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.60.

Northern Oil and Gas Stock Down 0.7 %

NOG opened at $42.45 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 4.23 and a beta of 1.86. Northern Oil and Gas has a twelve month low of $29.57 and a twelve month high of $43.64. The company’s 50-day moving average price is $37.61 and its two-hundred day moving average price is $37.12.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of NOG. Captrust Financial Advisors boosted its stake in shares of Northern Oil and Gas by 1,349.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock valued at $29,000 after purchasing an additional 1,066 shares in the last quarter. Quarry LP purchased a new stake in shares of Northern Oil and Gas in the 2nd quarter valued at $31,000. Principal Securities Inc. purchased a new stake in shares of Northern Oil and Gas in the 4th quarter valued at $42,000. TFO Wealth Partners LLC boosted its stake in shares of Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Northern Oil and Gas by 305.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after purchasing an additional 927 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Insider Buying and Selling

In related news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Northern Oil and Gas news, 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 completion of the transaction, the president now owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the transaction, the insider now directly owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,944 shares of company stock valued at $436,614. Company insiders own 3.20% of the company’s stock.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 15.94%.

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.