News Oil & Gas

Q4 2022 EPS Estimates for Northern Oil and Gas, Inc. Reduced by Analyst (NYSE:NOG)


Northern Oil and Gas, Inc. (NYSE:NOG – Get Rating) – Research analysts at Seaport Res Ptn decreased their Q4 2022 EPS estimates for shares of Northern Oil and Gas in a research note issued on Wednesday, September 21st. Seaport Res Ptn analyst N. Pope now anticipates that the company will post earnings per share of $2.24 for the quarter, down from their prior estimate of $2.42. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $7.13 per share.

Northern Oil and Gas (NYSE:NOG – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. Northern Oil and Gas had a net margin of 1.28% and a return on equity of 1,046.87%. The company had revenue of $549.64 million for the quarter, compared to the consensus estimate of $410.05 million.

NOG has been the topic of a number of other research reports. Bank of America increased their price objective on shares of Northern Oil and Gas from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. TheStreet raised shares of Northern Oil and Gas from a “d” rating to a “b-” rating in a report on Wednesday, August 3rd. Wells Fargo & Company dropped their price objective on shares of Northern Oil and Gas from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, July 11th. Finally, Raymond James increased their price objective on shares of Northern Oil and Gas from $50.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 18th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.78.

Northern Oil and Gas Stock Down 3.9 %

NOG stock opened at $28.43 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 7.22. Northern Oil and Gas has a fifty-two week low of $17.51 and a fifty-two week high of $39.10. The firm’s 50-day simple moving average is $29.75 and its 200 day simple moving average is $28.42. The stock has a market cap of $2.24 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.43 and a beta of 2.09.

Hedge Funds Weigh In On Northern Oil and Gas

Several large investors have recently made changes to their positions in the business. Federated Hermes Inc. boosted its position in shares of Northern Oil and Gas by 1,645.6% during the 2nd quarter. Federated Hermes Inc. now owns 79,251 shares of the company’s stock valued at $2,002,000 after purchasing an additional 74,711 shares in the last quarter. First National Bank of Omaha bought a new position in shares of Northern Oil and Gas during the 2nd quarter valued at about $304,000. Verition Fund Management LLC bought a new position in shares of Northern Oil and Gas during the 2nd quarter valued at about $342,000. Legal & General Group Plc boosted its position in shares of Northern Oil and Gas by 29.8% during the 2nd quarter. Legal & General Group Plc now owns 38,440 shares of the company’s stock valued at $971,000 after purchasing an additional 8,817 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Northern Oil and Gas during the 2nd quarter valued at about $402,000. Institutional investors own 78.72% of the company’s stock.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, September 29th will be given a dividend of $0.25 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.52%. Northern Oil and Gas’s dividend payout ratio (DPR) is 36.54%.

About Northern Oil and Gas

(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.

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

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