Northern Oil and Gas, Inc. Expected to Post FY2022 Earnings of $6.52 Per Share (NYSEAMERICAN:NOG)

Northern Oil and Gas, Inc. (NYSEAMERICAN:NOGGet Rating) – Equities research analysts at Capital One Financial reduced their FY2022 earnings estimates for shares of Northern Oil and Gas in a research report issued on Monday, July 18th. Capital One Financial analyst P. Johnston now anticipates that the energy company will post earnings of $6.52 per share for the year, down from their previous forecast of $6.68. 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’ FY2023 earnings at $8.35 EPS.

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The energy company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.20 by $0.38. Northern Oil and Gas had a net margin of 1.28% and a negative return on equity of 351.74%. The business had revenue of $456.46 million for the quarter, compared to analysts’ expectations of $321.67 million. During the same period in the previous year, the company posted $0.62 EPS.

Several other research firms have also issued reports on NOG. TheStreet lowered shares of Northern Oil and Gas from a “c-” rating to a “d” rating in a research note on Thursday, May 5th. Bank of America reduced their price objective on shares of Northern Oil and Gas from $38.00 to $32.00 in a research note on Tuesday. Raymond James lifted their price objective on shares of Northern Oil and Gas from $48.00 to $55.00 in a research note on Thursday, June 9th. Truist Financial lifted their price objective on shares of Northern Oil and Gas from $52.00 to $58.00 in a research note on Monday, June 13th. Finally, Citigroup lifted their price objective on shares of Northern Oil and Gas from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and an average target price of $42.78.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $25.91 on Tuesday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.66 and a current ratio of 0.66. Northern Oil and Gas has a 12 month low of $14.03 and a 12 month high of $39.10. The firm has a market cap of $2.00 billion, a PE ratio of -25.40, a P/E/G ratio of 0.51 and a beta of 2.25.

Institutional Trading of Northern Oil and Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOG. TCI Wealth Advisors Inc. bought a new stake in Northern Oil and Gas in the first quarter valued at about $29,000. Federated Hermes Inc. increased its stake in Northern Oil and Gas by 104.4% in the first quarter. Federated Hermes Inc. now owns 4,540 shares of the energy company’s stock valued at $128,000 after acquiring an additional 2,319 shares during the period. Point72 Hong Kong Ltd bought a new stake in Northern Oil and Gas in the first quarter valued at about $128,000. Ameritas Investment Partners Inc. increased its stake in Northern Oil and Gas by 26.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,741 shares of the energy company’s stock valued at $134,000 after acquiring an additional 990 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Northern Oil and Gas in the first quarter valued at about $140,000. Institutional investors own 88.47% of the company’s stock.

Insider Activity

In other news, major shareholder Robert B. Rowling sold 117,860 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $33.01, for a total transaction of $3,890,558.60. Following the completion of the transaction, the insider now owns 8,263,719 shares of the company’s stock, valued at $272,785,364.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Robert B. Rowling sold 400,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $33.26, for a total value 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 legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Robert B. Rowling sold 117,860 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $33.01, for a total transaction of $3,890,558.60. Following the completion of 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. 4.40% of the stock is owned by company insiders.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Wednesday, June 29th will be given a dividend of $0.19 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, June 28th. This represents a $0.76 dividend on an annualized basis and a yield of 2.93%. Northern Oil and Gas’s payout ratio is currently -74.51%.

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.

See Also

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.