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

Northern Oil and Gas (NYSE:NOG) announced its quarterly earnings data on Wednesday. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock traded up $0.17 during midday trading on Wednesday, reaching $35.36. 1,461,644 shares of the stock traded hands, compared to its average volume of 1,372,860. The stock’s fifty day moving average is $37.96 and its 200-day moving average is $38.36. Northern Oil and Gas has a 12 month low of $33.17 and a 12 month high of $44.31. The stock has a market cap of $3.53 billion, a P/E ratio of 4.25 and a beta of 1.81. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have issued reports on NOG shares. Royal Bank of Canada lowered their price objective on 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. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Monday, December 16th. Truist Financial lifted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler lowered their price objective on 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Hold” and a consensus price target of $47.00.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.80% of the stock is owned by corporate 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.