Capital One Financial Predicts NOG FY2024 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Capital One Financial raised their FY2024 earnings per share (EPS) estimates for Northern Oil and Gas in a note issued to investors on Tuesday, February 18th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $5.33 for the year, up from their prior forecast of $5.28. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.27 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ Q4 2024 earnings at $1.19 EPS.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%.

Several other research firms also recently commented on NOG. Royal Bank of Canada dropped their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. Truist Financial lifted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler lowered their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.00.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $35.36 on Thursday. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 4.25 and a beta of 1.81. The firm has a fifty day moving average price of $37.74 and a 200 day moving average price of $38.32. Northern Oil and Gas has a fifty-two week low of $33.17 and a fifty-two week high of $44.31. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.09%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio is currently 20.17%.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC boosted its holdings in Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after acquiring an additional 259 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Northern Oil and Gas by 9.1% during the fourth quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company’s stock valued at $129,000 after purchasing an additional 289 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Northern Oil and Gas by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company’s stock worth $487,000 after purchasing an additional 298 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Northern Oil and Gas by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company’s stock worth $386,000 after buying an additional 329 shares during the period. Finally, Legato Capital Management LLC lifted its holdings in Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company’s stock valued at $237,000 after buying an additional 349 shares in 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.