Q4 Earnings Estimate for NOG Issued By Roth Capital

Northern Oil and Gas, Inc. (NYSE:NOG) – Roth Capital issued their Q4 2024 earnings per share (EPS) estimates for Northern Oil and Gas in a research note issued to investors on Monday, December 16th. Roth Capital analyst J. White forecasts that the company will post earnings of $1.32 per share for the quarter. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.40 per share. Roth Capital also issued estimates for Northern Oil and Gas’ Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $0.92 EPS, Q3 2025 earnings at $1.07 EPS, Q4 2025 earnings at $1.25 EPS and FY2025 earnings at $4.34 EPS.

A number of other brokerages have also weighed in on NOG. Truist Financial upped their target price on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday. Morgan Stanley decreased their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Finally, Royal Bank of Canada lowered Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.20.

Northern Oil and Gas Stock Down 1.2 %

NOG stock opened at $35.57 on Thursday. The stock’s 50 day simple moving average is $39.69 and its 200 day simple moving average is $38.68. The company has a market cap of $3.55 billion, a P/E ratio of 4.27 and a beta of 1.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. The firm had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business’s revenue was up 140.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 earnings per share.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.72%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Insider Activity at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares in the company, valued at $3,727,440.38. This represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,508 shares of company stock worth $248,113. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors have recently made changes to their positions in NOG. Dimensional Fund Advisors LP raised its stake in shares of Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after purchasing an additional 789,985 shares during the period. American Century Companies Inc. lifted its holdings in shares of Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares in the last quarter. abrdn plc bought a new position in shares of Northern Oil and Gas in the third quarter valued at approximately $17,096,000. Bridgewater Associates LP grew its stake in Northern Oil and Gas by 135.6% during the third quarter. Bridgewater Associates LP now owns 511,170 shares of the company’s stock valued at $18,101,000 after acquiring an additional 294,223 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Northern Oil and Gas by 41.4% during the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock worth $33,320,000 after acquiring an additional 275,704 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, 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.