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

Northern Oil and Gas (NYSE:NOG) issued its quarterly earnings data 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 the consensus estimate of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 EPS.

Northern Oil and Gas Stock Up 0.9 %

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

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a yield of 4.00%. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Analyst Ratings Changes

NOG has been the subject of several analyst reports. Truist Financial boosted their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup lowered their price objective on shares of 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. Raymond James lowered 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 research note on Wednesday, January 24th. Stifel Nicolaus boosted their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.40.

Insiders Place Their Bets

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares in the company, valued at approximately $9,346,800.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares in the company, valued at approximately $9,346,800.36. The sale 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 company’s stock in a transaction dated 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 owns 73,753 shares in the company, valued at approximately $3,097,626. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock worth $436,614 in the last quarter. 2.80% of the stock is owned by corporate insiders.

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.