Zacks Research Has Bearish Estimate for NOG FY2027 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Analysts at Zacks Research cut their FY2027 earnings per share (EPS) estimates for Northern Oil and Gas in a note issued to investors on Monday, February 9th. Zacks Research analyst Team now expects that the company will post earnings per share of $3.03 for the year, down from their prior forecast of $3.43. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.18 per share.

A number of other research firms have also weighed in on NOG. Royal Bank Of Canada cut their target price on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Morgan Stanley set a $24.00 price objective on shares of Northern Oil and Gas and gave the stock an “underweight” rating in a research note on Friday, January 23rd. Citigroup reduced their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Thursday, January 22nd. Finally, Mizuho set a $29.00 price target on Northern Oil and Gas in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Hold” and a consensus target price of $29.29.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $25.08 on Wednesday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 14.17 and a beta of 1.01. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $36.16. The stock’s 50 day simple moving average is $23.03 and its two-hundred day simple moving average is $23.67. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10.

Hedge Funds Weigh In On Northern Oil and Gas

A number of large investors have recently bought and sold shares of the business. Laurel Wealth Advisors LLC increased its stake in Northern Oil and Gas by 2,736.1% in the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after purchasing an additional 985 shares during the period. First Horizon Corp purchased a new position in Northern Oil and Gas in the 3rd quarter worth about $27,000. Jones Financial Companies Lllp increased its stake in Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after buying an additional 713 shares during the period. IFP Advisors Inc lifted its holdings in Northern Oil and Gas by 315.7% during the 2nd quarter. IFP Advisors Inc now owns 1,351 shares of the company’s stock valued at $38,000 after buying an additional 1,026 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Northern Oil and Gas by 429.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after buying an additional 1,228 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.