Q3 2022 EPS Estimates for Northern Oil and Gas, Inc. Increased by Analyst (NYSEAMERICAN:NOG)

Northern Oil and Gas, Inc. (NYSEAMERICAN:NOGGet Rating) – Capital One Financial boosted their Q3 2022 earnings per share (EPS) estimates for Northern Oil and Gas in a report released on Thursday, June 16th. Capital One Financial analyst P. Johnston now forecasts that the energy company will earn $1.90 per share for the quarter, up from their previous forecast of $1.78. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.76 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ Q4 2022 earnings at $2.12 EPS, FY2022 earnings at $7.21 EPS and FY2023 earnings at $9.57 EPS.

Several other research analysts have also recently issued reports on NOG. Piper Sandler increased their price objective on Northern Oil and Gas from $43.00 to $51.00 in a research report on Thursday, June 9th. Truist Financial increased their price objective on Northern Oil and Gas from $52.00 to $58.00 in a research report on Monday. TheStreet cut Northern Oil and Gas from a “c-” rating to a “d” rating in a research report on Thursday, May 5th. Raymond James increased their price objective on Northern Oil and Gas from $48.00 to $55.00 in a research report on Thursday, June 9th. Finally, Citigroup increased their price objective on Northern Oil and Gas from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $41.10.

NYSEAMERICAN:NOG opened at $32.15 on Friday. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -31.52, a price-to-earnings-growth ratio of 0.51 and a beta of 2.25. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.66 and a quick ratio of 0.66. Northern Oil and Gas has a 1 year low of $14.03 and a 1 year high of $39.10.

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) last released its quarterly earnings results on Thursday, May 5th. The energy company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.27 by $0.31. Northern Oil and Gas had a negative return on equity of 351.74% and a net margin of 1.28%. During the same quarter in the previous year, the firm earned $0.62 earnings per share.

Large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its stake in Northern Oil and Gas by 6.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 267,273 shares of the energy company’s stock worth $5,500,000 after buying an additional 15,545 shares during the last quarter. Invesco Ltd. boosted its stake in Northern Oil and Gas by 30.2% in the 4th quarter. Invesco Ltd. now owns 2,213,679 shares of the energy company’s stock worth $45,557,000 after buying an additional 513,002 shares during the last quarter. Penn Capital Management Company LLC acquired a new stake in Northern Oil and Gas in the 4th quarter worth about $675,000. Hodges Capital Management Inc. acquired a new stake in Northern Oil and Gas in the 4th quarter worth about $283,000. Finally, New York State Common Retirement Fund boosted its stake in Northern Oil and Gas by 430.4% in the 4th quarter. New York State Common Retirement Fund now owns 415,191 shares of the energy company’s stock worth $8,545,000 after buying an additional 336,917 shares during the last quarter. 88.47% of the stock is currently owned by hedge funds and other institutional investors.

In related news, major shareholder Robert B. Rowling sold 400,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $33.26, for a total transaction of $13,304,000.00. Following the sale, the insider now owns 8,563,719 shares of the company’s stock, valued at $284,829,293.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Robert B. Rowling sold 117,860 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $33.01, for a total value of $3,890,558.60. Following the sale, the insider now directly owns 8,263,719 shares in the company, valued at approximately $272,785,364.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 530,860 shares of company stock worth $17,562,979. Corporate insiders own 4.40% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Wednesday, June 29th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, June 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.36%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.14. Northern Oil and Gas’s dividend payout ratio (DPR) is presently -54.90%.

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.

Featured Stories

Earnings History and Estimates for Northern Oil and Gas (NYSEAMERICAN: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.