NOG FY2024 EPS Forecast Boosted by Capital One Financial

Northern Oil and Gas, Inc. (NYSE:NOG) – Capital One Financial lifted their FY2024 EPS estimates for shares of Northern Oil and Gas in a research note issued on Monday, November 18th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $5.44 per share for the year, up from their prior 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.

Several other analysts have also issued reports on the stock. Piper Sandler boosted their target price on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday. Morgan Stanley dropped their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Truist Financial upped their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price on the stock. Finally, StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.60.

Northern Oil and Gas Trading Down 0.4 %

Northern Oil and Gas stock opened at $41.08 on Wednesday. The business has a 50-day simple moving average of $37.64 and a two-hundred day simple moving average of $38.50. 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 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The company 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 (NYSE:NOG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share.

Insiders Place Their Bets

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction dated Monday, October 7th. The shares were 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 owns 83,792 shares of the company’s stock, valued at $3,351,680. This represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $96,558.00. Following the transaction, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock worth $248,113 in the last three months. 2.80% of the stock is owned by company insiders.

Institutional Trading of Northern Oil and Gas

Several hedge funds have recently modified their holdings of NOG. Vanguard Group Inc. increased its position in Northern Oil and Gas by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after purchasing an additional 43,940 shares during the last quarter. American Century Companies Inc. lifted 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 valued at $206,905,000 after purchasing an additional 552,645 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Northern Oil and Gas by 45.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after buying an additional 789,985 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Northern Oil and Gas by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock worth $80,884,000 after buying an additional 100,761 shares during the last quarter. Finally, Copeland Capital Management LLC raised its position in shares of Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after buying an additional 12,079 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.