What Can Investors Expect from NYSE NOG’s Q1 2023 Earnings Report?

NOG Stock

Northern Oil and Gas (NOG:NYE) is set to announce its earnings results for the quarter on Thursday, May 4th after the market closes. Analysts are anticipating the company to report earnings of $1.63 per NOG stock share for the quarter.

 

Previous Quarter Earnings:

In its last earnings report, Northern Oil and Gas reported an EPS of $1.43 for the quarter, missing analysts’ consensus estimates by ($0.22). The company had revenue of $445.65 million for the quarter, which surpassed analysts’ expectations of $408.08 million.

Northern Oil and Gas’s quarterly revenue was up 34.1% on a year-over-year basis. Analysts predict that Northern Oil and Gas will post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year on average.

 

NOG Stock Price Analysis:

Northern Oil and Gas opened at $31.84 on Thursday and has a current ratio of 0.93, a quick ratio of 0.93, and a debt-to-equity ratio of 2.05. The company has a market cap of $2.72 billion, a P/E ratio of 3.87, and a beta of 2.02. It has a 12-month low of $21.45 and a 12-month high of $39.10.

The stock currently has a consensus rating of “Strong Buy” and a consensus price target of $48.50, according to Stock Target Advisor.

NOG Ratings by Stock Target Advisor

NOG Stock Dividend:

Recently, Northern Oil and Gas announced an increase in its quarterly dividend to $0.34 per share, which will be paid on Friday, April 28th. This represents an annualized dividend of $1.36 and a dividend yield of 4.27%. The company’s payout ratio is currently 16.55%.

 

Hedge Funds & Institutional Holdings:

Hedge funds and other institutional investors have modified their holdings of NOG recently. BlackRock Inc., Vanguard Group Inc., State Street Corp, Invesco Ltd., and Geode Capital Management LLC all boosted their positions in Northern Oil and Gas in the last quarter.

 

NOG Stock-Analyst Ratings:

Various research analyst reports have been published on NOG. Piper Sandler decreased their price target on the shares of NOG stock from $55.00 to $50.00 and set an “overweight” rating.

Bank of America upgraded shares of Northern Oil and Gas from a “neutral” rating to a “buy” rating and set a $38.00 target price for the company.

Truist Financial increased its target price on shares of Northern Oil and Gas from $44.00 to $59.00 and gave the stock a “buy” rating.

Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 target price on shares of NOG stock.

NOG Ratings by Stock Target Advisor

Company Profile:

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. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States. The company is based in Minnetonka, Minnesota.

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