Northern Oil and Gas (NYSE:NOG) Posts Earnings Results

Northern Oil and Gas (NYSE:NOG) issued its quarterly earnings results on Tuesday. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10, Yahoo Finance reports. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The business had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. During the same period in the previous year, the business earned $1.76 EPS. The business’s quarterly revenue was down 31.9% on a year-over-year basis.

Northern Oil and Gas Stock Up 0.6 %

Shares of NYSE:NOG traded up $0.23 during midday trading on Thursday, hitting $39.90. 243,608 shares of the stock were exchanged, compared to its average volume of 1,282,189. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.32 and a current ratio of 0.96. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.75. The business’s fifty day simple moving average is $39.38 and its two-hundred day simple moving average is $37.35. The company has a market capitalization of $4.03 billion, a PE ratio of 6.43 and a beta of 1.84.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 4.01%. Northern Oil and Gas’s dividend payout ratio is 25.93%.

Insider Buying and Selling

In related news, insider James B. Evans sold 945 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the sale, the president now directly owns 122,359 shares of the company’s stock, valued at $4,649,642. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James B. Evans sold 945 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,944 shares of company stock worth $436,614. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Jefferies Financial Group upped their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Stifel Nicolaus upped their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Finally, Truist Financial upped their price objective on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.40.

About Northern Oil and Gas

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.