Zacks Research Has Pessimistic Outlook of NOG Q4 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Research analysts at Zacks Research cut their Q4 2024 EPS estimates for Northern Oil and Gas in a note issued to investors on Monday, November 18th. Zacks Research analyst N. Choudhury now forecasts that the company will post earnings of $1.33 per share for the quarter, down from their prior forecast of $1.40. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.42 per share. Zacks Research also issued estimates for Northern Oil and Gas’ Q2 2025 earnings at $1.30 EPS, FY2025 earnings at $5.55 EPS, Q1 2026 earnings at $1.61 EPS, Q2 2026 earnings at $1.44 EPS, Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $6.33 EPS.

Other research analysts have also issued reports about the stock. Mizuho assumed coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Morgan Stanley lowered 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 note on Monday, September 16th. Truist Financial increased their target price on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.50.

Northern Oil and Gas Stock Up 1.2 %

Shares of NYSE:NOG opened at $41.57 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 4.99 and a beta of 1.80. The stock’s 50-day moving average price is $37.79 and its two-hundred day moving average price is $38.50. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $43.80.

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

Hedge Funds Weigh In On Northern Oil and Gas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Northern Oil and Gas by 45.6% in the 2nd 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 last quarter. American Century Companies Inc. increased its position in Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares during the period. abrdn plc acquired a new stake in Northern Oil and Gas in the third quarter worth $17,096,000. Bridgewater Associates LP lifted its stake in Northern Oil and Gas by 135.6% in the third quarter. Bridgewater Associates LP now owns 511,170 shares of the company’s stock valued at $18,101,000 after buying an additional 294,223 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Northern Oil and Gas by 41.4% during the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock valued at $33,320,000 after acquiring an additional 275,704 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Oil and Gas

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