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

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

Northern Oil and Gas Trading Up 0.8 %

Northern Oil and Gas stock traded up $0.30 during midday trading on Thursday, reaching $39.97. The stock had a trading volume of 1,043,239 shares, compared to its average volume of 1,291,638. The firm’s fifty day simple moving average is $39.38 and its two-hundred day simple moving average is $37.35. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 1.32. Northern Oil and Gas has a twelve month low of $29.57 and a twelve month high of $43.75. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 6.43 and a beta of 1.84.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.00%. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on 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. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group raised their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Finally, Stifel Nicolaus raised their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.40.

Insider Activity

In related news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the transaction, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock worth $436,614 over the last quarter. Corporate 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.