Q4 Earnings Estimate for NOG Issued By Roth Capital

Northern Oil and Gas, Inc. (NYSE:NOG) – Roth Capital issued their Q4 2024 EPS estimates for shares of Northern Oil and Gas in a report issued on Monday, December 16th. Roth Capital analyst J. White anticipates that the company will earn $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.

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

NOG has been the subject of several other reports. Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday. Morgan Stanley decreased their price objective 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 assumed coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price on the stock. Finally, Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.20.

Northern Oil and Gas Stock Down 2.1 %

Shares of NOG stock opened at $36.02 on Thursday. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $44.31. The stock has a market cap of $3.60 billion, a P/E ratio of 4.32 and a beta of 1.85. The stock has a 50 day moving average of $39.78 and a 200 day moving average of $38.70. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Hedge Funds Weigh In On Northern Oil and Gas

Large investors have recently modified their holdings of the business. Legacy Investment Solutions LLC purchased a new stake in shares of Northern Oil and Gas in the 3rd quarter valued at approximately $25,000. Signaturefd LLC increased its holdings in Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. Quarry LP raised its position in Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after purchasing an additional 874 shares during the period. GAMMA Investing LLC raised its position in Northern Oil and Gas by 58.6% in the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock valued at $62,000 after purchasing an additional 647 shares during the period. Finally, Covestor Ltd lifted its stake in Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after purchasing an additional 1,048 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the transaction, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. The trade was a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,508 shares of company stock valued at $248,113. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.66%. Northern Oil and Gas’s payout ratio is presently 20.17%.

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.