Equities Analysts Set Expectations for Northern Oil and Gas, Inc.’s FY2022 Earnings (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOGGet Rating) – Equities research analysts at Jefferies Financial Group increased their FY2022 earnings per share estimates for shares of Northern Oil and Gas in a research report issued to clients and investors on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now forecasts that the company will earn $11.95 per share for the year, up from their prior estimate of $6.84. Jefferies Financial Group has a “Buy” rating and a $37.00 price objective on the stock. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $6.99 per share. Jefferies Financial Group also issued estimates for Northern Oil and Gas’ FY2023 earnings at $9.19 EPS.

Northern Oil and Gas (NYSE:NOGGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.10. The company had revenue of $534.05 million during the quarter, compared to the consensus estimate of $412.87 million.

Several other equities analysts have also recently weighed in on NOG. Raymond James decreased their price objective on Northern Oil and Gas from $60.00 to $55.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 4th. StockNews.com upgraded Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Bank of America upgraded shares of Northern Oil and Gas from a “neutral” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Friday, January 6th. Piper Sandler raised their target price on shares of Northern Oil and Gas from $51.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, October 18th. Finally, Truist Financial raised their target price on shares of Northern Oil and Gas from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, October 13th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.20.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $32.46 on Friday. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 3.72, a PEG ratio of 0.17 and a beta of 1.97. The business has a 50-day moving average of $32.79 and a 200-day moving average of $31.14. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.99 and a quick ratio of 0.99. Northern Oil and Gas has a fifty-two week low of $20.02 and a fifty-two week high of $39.10.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Loomis Sayles & Co. L P raised its position in shares of Northern Oil and Gas by 12.5% in the second quarter. Loomis Sayles & Co. L P now owns 625,213 shares of the company’s stock valued at $15,793,000 after buying an additional 69,233 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Northern Oil and Gas by 26.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,820 shares of the company’s stock valued at $1,056,000 after buying an additional 8,744 shares in the last quarter. King Luther Capital Management Corp raised its position in shares of Northern Oil and Gas by 108.8% in the second quarter. King Luther Capital Management Corp now owns 114,300 shares of the company’s stock valued at $2,887,000 after buying an additional 59,550 shares in the last quarter. Tributary Capital Management LLC increased its stake in Northern Oil and Gas by 47.9% in the third quarter. Tributary Capital Management LLC now owns 365,855 shares of the company’s stock valued at $10,028,000 after acquiring an additional 118,539 shares during the last quarter. Finally, Cetera Advisor Networks LLC increased its stake in Northern Oil and Gas by 9.6% in the second quarter. Cetera Advisor Networks LLC now owns 19,499 shares of the company’s stock valued at $493,000 after acquiring an additional 1,716 shares during the last quarter. 96.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,238 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $35.80, for a total transaction of $44,320.40. Following the completion of the sale, the insider now directly owns 80,122 shares in the company, valued at $2,868,367.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Northern Oil and Gas news, President Adam A. Dirlam sold 6,620 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $36.05, for a total transaction of $238,651.00. Following the completion of the sale, the president now directly owns 51,508 shares in the company, valued at $1,856,863.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Erik J. Romslo sold 1,238 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $35.80, for a total transaction of $44,320.40. Following the completion of the sale, the insider now owns 80,122 shares of the company’s stock, valued at $2,868,367.60. The disclosure for this sale can be found here. Insiders sold 337,990 shares of company stock worth $12,705,441 over the last three months. Insiders own 3.60% of the company’s stock.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Thursday, December 29th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 3.70%. Northern Oil and Gas’s dividend payout ratio (DPR) is 13.76%.

Northern Oil and Gas Company Profile

(Get Rating)

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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

See Also

Earnings History and Estimates for Northern Oil and Gas (NYSE:NOG)

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