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

Northern Oil and Gas (NYSE:NOG) issued its earnings results on Wednesday. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16), Zacks reports. Northern Oil and Gas had a return on equity of 24.96% and a net margin of 23.38%. The company had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million.

Northern Oil and Gas Stock Performance

NOG stock traded down $1.47 during midday trading on Friday, hitting $33.91. 485,770 shares of the stock traded hands, compared to its average volume of 1,364,411. The stock’s fifty day simple moving average is $37.62 and its 200-day simple moving average is $38.30. The firm has a market cap of $3.39 billion, a P/E ratio of 6.62 and a beta of 1.81. Northern Oil and Gas has a 1-year low of $33.17 and a 1-year 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.31%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s payout ratio is 32.68%.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the business’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 sale, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOG. 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. Truist Financial boosted their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Monday, December 16th. Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday. Finally, Royal Bank of Canada decreased their price objective on 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.