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

Northern Oil and Gas (NYSE:NOG) released its earnings results on Wednesday. The company reported $1.11 earnings per share 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 Trading Up 0.5 %

Northern Oil and Gas stock traded up $0.17 during trading hours on Wednesday, reaching $35.36. The stock had a trading volume of 1,461,644 shares, compared to its average volume of 1,372,860. The stock has a market cap of $3.53 billion, a PE ratio of 4.25 and a beta of 1.81. Northern Oil and Gas has a 52 week low of $33.17 and a 52 week 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 company has a fifty day simple moving average of $37.96 and a 200-day simple moving average of $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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.09%. 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. Northern Oil and Gas’s dividend payout ratio (DPR) is 20.17%.

Insiders Place Their Bets

In related news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas 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. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Monday, December 16th. Truist Financial upped their price target on shares of 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 dropped their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock 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 assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.00.

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.