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

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

Northern Oil and Gas Stock Performance

NOG stock traded up $0.23 during trading on Thursday, reaching $39.90. The company had a trading volume of 243,608 shares, compared to its average volume of 1,282,189. The firm has a 50-day simple moving average of $39.38 and a 200-day simple moving average of $37.35. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 6.43 and a beta of 1.84. 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 twelve month low of $29.57 and a twelve month high of $43.75.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Insider Buying and Selling

In other Northern Oil and Gas 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 shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the completion of the transaction, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the transaction, the insider now owns 73,753 shares of the company’s stock, valued at $3,097,626. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock worth $436,614 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, March 6th. StockNews.com upgraded shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday. Raymond James decreased their price objective on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Piper Sandler lifted their price objective on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, Bank of America lowered shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective for the company. in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.