Northern Oil and Gas, Inc. (NYSEAMERICAN: NOG – Get Rating) – Analysts at Capital One Financial lifted their Q2 2022 earnings per share (EPS) estimates for Northern Oil and Gas in a note issued to investors on Friday, June 24th. Capital One Financial analyst P. Johnston now expects that the energy company will earn $ 1.63 per share for the quarter, up from their prior forecast of $ 1.61. 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’ Q3 2022 earnings at $ 1.95 EPS, Q4 2022 earnings at $ 2.16 EPS, FY2022 earnings at $ 7.31 EPS and FY2023 earnings at $ 9.79 EPS.
NOG has been the topic of several other reports. Raymond James boosted their target price on shares of Northern Oil and Gas from $ 48.00 to $ 55.00 in a research note on Thursday, June 9th. Truist Financial boosted their target price on shares of Northern Oil and Gas from $ 52.00 to $ 58.00 in a research note on Monday, June 13th. Bank of America downgraded shares of Northern Oil and Gas from a “buy” rating to a “neutral” rating and boosted their target price for the company from $ 33.00 to $ 38.00 in a research note on Tuesday, March 8th. Wells Fargo & Company downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating and set a $ 34.00 target price on the stock. in a research note on Monday, March 14th. They noted that the move was a valuation call. Finally, Piper Sandler boosted their target price on shares of Northern Oil and Gas from $ 43.00 to $ 51.00 in a research note on Thursday, June 9th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $ 43.33.
Shares of NYSEAMERICAN: NOG opened at $ 26.08 on Monday. Northern Oil and Gas has a one year low of $ 14.03 and a one year high of $ 39.10. The firm has a market cap of $ 2.02 billion, a PE ratio of -25.57, a P / E / G 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 (NYSEAMERICAN: NOG – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The energy company reported $ 1.58 EPS for the quarter, beating analysts’ consensus estimates of $ 1.20 by $ 0.38. Northern Oil and Gas had a negative return on equity of 351.74% and a net margin of 1.28%. The company had revenue of $ 456.46 million during the quarter, compared to the estimate consensus of $ 321.67 million. During the same quarter in the prior year, the firm earned $ 0.62 EPS.
A number of large investors have recently bought and sold shares of the stock. Isthmus Partners LLC raised its position in Northern Oil and Gas by 1.3% in the first quarter. Isthmus Partners LLC now owns 37,929 shares of the energy company stock worth $ 1,069,000 after purchasing an additional 496 shares in the last quarter. Advisor Group Holdings Inc. raised its position in Northern Oil and Gas by 2.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 33,003 shares of the energy company stock worth $ 679,000 after purchasing an additional 769 shares in the last quarter. Personal CFO Solutions LLC raised its position in Northern Oil and Gas by 5.5% in the first quarter. Personal CFO Solutions LLC now owns 16,018 shares of the energy company stock worth $ 452,000 after purchasing an additional 836 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Northern Oil and Gas by 26.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,741 shares of the energy company stock worth $ 134,000 after buying an additional 990 shares in the last quarter. Finally, Epiq Partners LLC increased its holdings in shares of Northern Oil and Gas by 1.8% during the fourth quarter. Epiq Partners LLC now owns 56,600 shares of the energy company stock worth $ 1,165,000 after buying an additional 1,006 shares in the last quarter. 88.47% of the stock is 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 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 completion of the sale, the insider now owns 8,563,719 shares in the company, valued at $ 284,829,293.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Robert B. Rowling sold 117,860 shares of the 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 owns 8,263,719 shares of the company stock, valued at approximately $ 272,785,364.19. The disclosure for this sale can be found here. Insiders have sold 530,860 shares of company stock valued at $ 17,562,979 over the last 90 days. Corporate insiders own 4.40% of the company stock.
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 issued a dividend of $ 0.19 per share. This represents a $ 0.76 dividend on an annualized basis and a yield of 2.91%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $ 0.14. The ex-dividend date is Tuesday, June 28th. Northern Oil and Gas’s dividend payout ratio is -54.90%.
Northern Oil and Gas Company Profile: (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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