Brokers Set Expectations for NOG Q4 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Analysts at Roth Capital issued their Q4 2024 EPS estimates for Northern Oil and Gas in a note issued to investors on Monday, December 16th. Roth Capital analyst J. White anticipates that the company will post earnings per share of $1.32 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 issued its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 EPS.

NOG has been the subject of several other reports. Mizuho lowered shares of 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. Morgan Stanley cut their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Truist Financial upped their price objective on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Royal Bank of Canada downgraded shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Finally, 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 report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.20.

Northern Oil and Gas Stock Performance

Shares of NOG stock traded up $0.14 on Thursday, hitting $36.95. 78,833 shares of the stock traded hands, compared to its average volume of 1,307,174. The company has a market capitalization of $3.69 billion, a PE ratio of 4.44 and a beta of 1.85. The company’s fifty day moving average is $39.84 and its 200 day moving average is $38.72. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. Northern Oil and Gas has a 1-year low of $31.13 and a 1-year high of $44.31.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.55%. Northern Oil and Gas’s payout ratio is 20.17%.

Insiders Place Their Bets

In other news, CFO Chad W. Allen sold 1,500 shares of the firm’s 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 in the company, valued at approximately $3,351,680. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Adam A. Dirlam sold 2,508 shares of the business’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 transaction of $96,558.00. Following the completion of the sale, the president now owns 107,876 shares in the company, valued at $4,153,226. The trade was a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock worth $248,113 over the last ninety days. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in shares of 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 buying an additional 552,645 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Northern Oil and Gas by 45.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after purchasing an additional 789,985 shares during the period. Geode Capital Management LLC grew its position in Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after purchasing an additional 100,761 shares in the last quarter. Copeland Capital Management LLC grew its stake in Northern Oil and Gas by 0.6% in the third quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after purchasing an additional 12,079 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Northern Oil and Gas by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock valued at $45,349,000 after purchasing an additional 49,632 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.