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

Northern Oil and Gas (NYSE:NOG) released its quarterly earnings data on Wednesday. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16), Zacks reports. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock traded down $0.05 during midday trading on Thursday, reaching $35.35. 106,618 shares of the company traded hands, compared to its average volume of 1,334,519. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 4.24 and a beta of 1.81. The business has a 50 day moving average of $37.74 and a two-hundred day moving average of $38.32. Northern Oil and Gas has a 12 month low of $33.17 and a 12 month high of $44.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a dividend of $0.45 per share. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.09%. Northern Oil and Gas’s dividend payout ratio is 20.17%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NOG has been the topic of several research analyst reports. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Monday, December 16th. Royal Bank of Canada reduced their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Piper Sandler reduced their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Finally, Truist Financial boosted their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.00.

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.