NOG Provides Update on First Quarter Hedging Results and Stock Repurchases
Northern Oil and Gas, Inc. (NOG)
NASDAQ:AMEX Investor Relations:
northernoil.com
Company Research
Source: Business Wire
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG” or the “Company”) today provided an update regarding first quarter hedging results and stock repurchases.HEDGING UPDATEThe Company periodically enters into derivative agreements to hedge a portion of its commodity pricing exposure. For the first quarter of 2024, realized gains on derivatives are expected to be $19.1 million. Unrealized mark-to-market losses on derivatives are expected to be $146.2 million for the quarter.STOCK REPURCHASE UPDATEThe Company allocated capital in the first quarter of 2024 to common stock repurchases. NOG repurchased 549,356 shares of its common stock at a weighted average price of $36.42 per share, repurchased prior to the most recent dividend record date. For comparative purposes, the average closing price of NOG’s common stock during March 2024 was $37.71, and the final closing price at quarter end was $39.68. As of the end of the first quarter, the Company had $67.5 million
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NOG
News
- NOG Announces Expansion of Revolving Credit FacilityBusiness Wire
- Amplify Energy (AMPY) Earnings Expected to Grow: Should You Buy? [Yahoo! Finance]Yahoo! Finance
- Northern Oil and Gas, Inc. (NYSE: NOG) had its price target raised by analysts at Stifel Nicolaus from $54.00 to $55.00. They now have a "buy" rating on the stock.MarketBeat
- Northern Oil and Gas, Inc. (NYSE: NOG) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Northern Oil and Gas, Inc. (NYSE: NOG) had its price target raised by analysts at Piper Sandler from $38.00 to $42.00. They now have a "neutral" rating on the stock.MarketBeat
NOG
Earnings
- 2/22/24 - Miss
NOG
Sec Filings
- 4/16/24 - Form 8-K
- 4/11/24 - Form DEFA14A
- 4/11/24 - Form DEF
- NOG's page on the SEC website