FY2023 EPS Estimates for Northern Oil and Gas, Inc. (NYSE:NOG) Reduced by Analyst

Northern Oil and Gas, Inc. (NYSE:NOGFree Report) – Analysts at Zacks Research lowered their FY2023 earnings per share estimates for Northern Oil and Gas in a note issued to investors on Tuesday, February 6th. Zacks Research analyst N. Choudhury now forecasts that the company will post earnings per share of $6.66 for the year, down from their previous forecast of $6.73. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $6.72 per share. Zacks Research also issued estimates for Northern Oil and Gas’ Q4 2023 earnings at $1.68 EPS, Q1 2024 earnings at $1.60 EPS, Q3 2024 earnings at $1.58 EPS, Q4 2024 earnings at $1.80 EPS, Q1 2025 earnings at $1.51 EPS, Q2 2025 earnings at $1.61 EPS, Q3 2025 earnings at $1.70 EPS, Q4 2025 earnings at $1.74 EPS and FY2025 earnings at $6.57 EPS.

Several other equities research analysts also recently weighed in on NOG. Morgan Stanley began coverage on Northern Oil and Gas in a report on Friday, January 5th. They set an “equal weight” rating and a $40.00 price target for the company. Johnson Rice cut Northern Oil and Gas from a “buy” rating to an “accumulate” rating in a research report on Thursday, December 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research report on Tuesday, November 28th. Raymond James cut their price objective on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus cut their price objective on Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Get Our Latest Stock Analysis on NOG

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $32.47 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a fifty day moving average price of $35.61 and a 200 day moving average price of $38.16. Northern Oil and Gas has a 1-year low of $25.56 and a 1-year high of $43.64. The company has a market cap of $3.26 billion, a PE ratio of 4.18 and a beta of 1.85.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio is currently 20.59%.

Insider Activity

In other news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $37.62, for a total value of $52,367.04. Following the completion of the transaction, the president now owns 58,180 shares in the company, valued at $2,188,731.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $37.62, for a total transaction of $52,367.04. Following the sale, the president now owns 58,180 shares of the company’s stock, valued at $2,188,731.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total value of $133,612.50. Following the sale, the chief executive officer now directly owns 220,825 shares in the company, valued at approximately $7,867,994.75. The disclosure for this sale can be found here. Insiders sold a total of 5,772 shares of company stock worth $209,680 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Northern Oil and Gas

Large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its stake in shares of Northern Oil and Gas by 259.2% during the second quarter. Quadrant Capital Group LLC now owns 740 shares of the company’s stock valued at $25,000 after acquiring an additional 534 shares during the last quarter. Quarry LP acquired a new stake in Northern Oil and Gas in the 2nd quarter worth about $31,000. Principal Securities Inc. acquired a new stake in Northern Oil and Gas in the 4th quarter worth about $42,000. Captrust Financial Advisors boosted its stake in Northern Oil and Gas by 1,349.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after buying an additional 1,066 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in Northern Oil and Gas by 305.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after buying an additional 927 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

(Get Free Report)

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.

Featured Stories

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

Receive News & Ratings for Northern Oil and Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Oil and Gas and related companies with MarketBeat.com's FREE daily email newsletter.