Northern Oil and Gas (NYSE:NOG) Issues Earnings Results

Northern Oil and Gas (NYSE:NOG) announced its quarterly earnings results on Tuesday. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26, Briefing.com reports. Northern Oil and Gas had a return on equity of 32.99% and a net margin of 27.37%. The company had revenue of $560.80 million during the quarter, compared to analyst estimates of $542.28 million. During the same quarter in the previous year, the firm posted $1.49 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis.

Northern Oil and Gas Trading Down 0.9 %

Shares of Northern Oil and Gas stock traded down $0.38 on Thursday, reaching $42.81. 85,208 shares of the company were exchanged, compared to its average volume of 1,328,310. The stock has a fifty day moving average price of $38.96 and a 200-day moving average price of $38.21. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 7.04 and a beta of 1.79. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOG. Bank of America boosted their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Morgan Stanley boosted 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 note on Monday, April 15th. Citigroup dropped their price objective on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Finally, Stifel Nicolaus boosted their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and an average price target of $48.90.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total transaction of $56,877.12. Following the sale, the president now directly owns 109,020 shares of the company’s stock, valued at $4,454,557.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total value of $56,877.12. Following the transaction, the president now directly owns 109,020 shares in the company, valued at $4,454,557.20. The disclosure for this sale can be found here. Insiders have sold 6,534 shares of company stock valued at $252,144 over the last three months. Company insiders own 2.80% of the company’s stock.

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.