Northern Oil and Gas (NYSE:NOG) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Northern Oil and Gas (NYSE:NOG) announced its earnings results on Tuesday. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $396.35 million during the quarter, compared to analyst estimates of $505.67 million. During the same period last year, the firm posted $1.76 EPS. The business’s revenue was down 31.9% compared to the same quarter last year.

Northern Oil and Gas Trading Up 0.9 %

Shares of NOG traded up $0.35 during mid-day trading on Thursday, hitting $40.02. 355,018 shares of the company’s stock traded hands, compared to its average volume of 1,283,852. The company has a quick ratio of 1.32, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.75. The firm has a market capitalization of $4.04 billion, a P/E ratio of 6.43 and a beta of 1.84. The business’s 50-day moving average price is $39.38 and its 200-day moving average price is $37.35.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 4.00%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Insider Activity

In related news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now directly owns 122,359 shares in the company, valued at $4,649,642. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the sale, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,944 shares of company stock valued at $436,614. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NOG shares. Jefferies Financial Group increased their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Piper Sandler increased their price target on Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Stifel Nicolaus increased their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Citigroup cut their target price on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.40.

Northern Oil and Gas 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.