Zacks Research Analysts Increase Earnings Estimates for NOG

Northern Oil and Gas, Inc. (NYSE:NOG) – Investment analysts at Zacks Research raised their Q3 2027 earnings per share estimates for shares of Northern Oil and Gas in a report issued on Wednesday, September 16th. Zacks Research analyst Team now forecasts that the company will post earnings per share of $0.69 for the quarter, up from their previous estimate of $0.68. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $3.63 per share. Zacks Research also issued estimates for Northern Oil and Gas’ FY2027 earnings at $3.13 EPS.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings upgraded Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Citigroup reduced their price objective on Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Mizuho raised shares of Northern Oil and Gas to a “hold” rating in a report on Friday, July 31st. Raymond James Financial restated an “outperform” rating and set a $31.00 price objective (up from $28.00) on shares of Northern Oil and Gas in a report on Thursday, September 10th. Finally, Morgan Stanley set a $25.00 target price on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Northern Oil and Gas presently has an average rating of “Hold” and an average target price of $31.00.

Northern Oil and Gas Trading Down 0.5%

Shares of NOG stock opened at $25.18 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -4.86 and a beta of 0.73. Northern Oil and Gas has a 52-week low of $17.18 and a 52-week high of $31.17. The company has a 50-day simple moving average of $23.66 and a two-hundred day simple moving average of $24.13.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.05). The firm had revenue of $745.24 million during the quarter, compared to the consensus estimate of $594.09 million. Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ascentis Independent Advisors bought a new position in shares of Northern Oil and Gas in the first quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. bought a new stake in Northern Oil and Gas during the 2nd quarter worth approximately $29,000. Allworth Financial LP purchased a new stake in Northern Oil and Gas in the 2nd quarter worth approximately $31,000. IFP Advisors Inc boosted its holdings in Northern Oil and Gas by 58.6% in the 2nd quarter. IFP Advisors Inc now owns 1,903 shares of the company’s stock valued at $35,000 after purchasing an additional 703 shares during the period. Finally, Transamerica Financial Advisors LLC grew its position in shares of Northern Oil and Gas by 22.1% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 2,242 shares of the company’s stock valued at $42,000 after purchasing an additional 406 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Bahram Akradi bought 25,760 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the transaction, the director directly owned 1,713,444 shares in the company, valued at approximately $33,240,813.60. The trade was a 1.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 7.1%. Northern Oil and Gas’s payout ratio is presently -34.75%.

About Northern Oil and Gas

Northern Oil and Gas, Inc is an independent exploration and production company focused on acquiring and managing non-operated interests in oil and natural gas properties. Rather than serving as the primary operator of wells, the company invests alongside established operators and participates in the development and production of upstream assets.

The company’s portfolio includes interests in producing and undeveloped properties across several major U.S. oil and gas regions, including the Williston Basin, Permian Basin and Uinta Basin.