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

Northern Oil and Gas (NYSE:NOG) announced its earnings results on Wednesday. The company reported $1.11 EPS 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%.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded up $0.17 during midday trading on Wednesday, hitting $35.36. 1,461,858 shares of the company’s stock were exchanged, compared to its average volume of 1,372,864. Northern Oil and Gas has a twelve month low of $33.17 and a twelve month 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. The firm has a market cap of $3.53 billion, a P/E ratio of 4.25 and a beta of 1.81. The stock’s 50 day moving average price is $37.96 and its 200-day moving average price is $38.36.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Mizuho downgraded shares of 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 report on Monday, December 16th. Truist Financial boosted their price objective 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. Royal Bank of Canada dropped their target price 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. Finally, Piper Sandler reduced their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Hold” and a consensus price target 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 dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is owned by company insiders.

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.