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

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

Northern Oil and Gas Trading Up 0.8 %

NOG stock traded up $0.30 during trading on Thursday, reaching $39.97. The company had a trading volume of 1,043,239 shares, compared to its average volume of 1,291,638. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 1.32. Northern Oil and Gas has a 52 week low of $29.57 and a 52 week high of $43.75. The business has a 50 day moving average of $39.38 and a 200 day moving average of $37.35. The company has a market cap of $4.04 billion, a P/E ratio of 6.43 and a beta of 1.84.

Northern Oil and Gas Dividend Announcement

The business 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Wednesday, March 27th. Northern Oil and Gas’s payout ratio is 25.93%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Piper Sandler boosted their price target on shares of 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. Citigroup reduced their price target on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. StockNews.com upgraded Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday. Raymond James dropped their price objective on 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. Finally, Stifel Nicolaus lifted their target price on shares of 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus price target of $47.40.

Insider Buying and Selling at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at $9,346,800.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider James B. Evans sold 945 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the sale, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas 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 transaction, the chief executive officer now owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,944 shares of company stock valued at $436,614. 2.80% of the stock is currently 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.