Northern Oil and Gas (NYSE:NOG) Issues Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Northern Oil and Gas (NYSE:NOG) announced its quarterly earnings results on Wednesday. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million.

Northern Oil and Gas Price Performance

NYSE:NOG traded down $0.05 during trading hours on Thursday, hitting $35.35. The stock had a trading volume of 106,618 shares, compared to its average volume of 1,334,519. The company has a 50 day simple moving average of $37.74 and a two-hundred day simple moving average of $38.32. 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 has a one year low of $33.17 and a one year high of $44.31. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 4.24 and a beta of 1.81.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.09%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NOG shares. 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. Truist Financial raised 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. Piper Sandler decreased their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada decreased their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.00.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.80% of the company’s stock.

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.