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

Northern Oil and Gas (NYSE:NOG) issued its quarterly earnings data on Tuesday. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. During the same quarter last year, the company earned $1.76 earnings per share. Northern Oil and Gas’s revenue for the quarter was down 31.9% on a year-over-year basis.

Northern Oil and Gas Stock Performance

NOG stock opened at $39.91 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.32 and a current ratio of 0.96. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 6.43 and a beta of 1.84. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.75. The stock’s fifty day moving average is $39.38 and its two-hundred day moving average is $37.35.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a $0.40 dividend. 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 payout ratio is 25.93%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOG. Raymond James lowered their price objective on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Stifel Nicolaus raised their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday. Bank of America downgraded shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price target for the company. in a research report on Friday, January 5th. Finally, Morgan Stanley raised their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Northern Oil and Gas presently has an average rating of “Moderate Buy” and an average target price of $47.40.

Insider Buying and Selling at Northern Oil and Gas

In related news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction dated 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 directly owns 73,753 shares in the company, valued at $3,097,626. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction dated 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 directly owns 73,753 shares in the company, valued at $3,097,626. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the completion of the sale, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at $9,346,800.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,944 shares of company stock worth $436,614. 2.80% of the stock is owned by 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.