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

Northern Oil and Gas (NYSE:NOG) announced its quarterly earnings results on Tuesday. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter was down 31.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 earnings per share.

Northern Oil and Gas Price Performance

NYSE NOG traded up $0.20 during trading hours on Thursday, reaching $39.87. The company’s stock had a trading volume of 255,381 shares, compared to its average volume of 1,282,476. Northern Oil and Gas has a fifty-two week low of $29.57 and a fifty-two week high of $43.75. The stock has a market cap of $4.03 billion, a PE ratio of 6.43 and a beta of 1.84. The company’s 50-day moving average is $39.38 and its two-hundred day moving average is $37.35. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors 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 yield of 4.01%. The ex-dividend date was Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Insider Buying and Selling

In related news, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now owns 73,753 shares in the company, valued at $3,097,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 sale, the insider now owns 73,753 shares in the company, valued at $3,097,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction 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 completion of the transaction, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. 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. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

NOG has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Morgan Stanley upped their target price on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Citigroup dropped their price objective on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Bank of America downgraded shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 target price for the company. in a research note on Friday, January 5th. Finally, StockNews.com upgraded shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.