Northern Oil and Gas (NYSE:NOG) Announces Earnings Results, Beats Expectations By $0.20 EPS

Northern Oil and Gas (NYSE:NOG) issued its earnings results on Tuesday. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20, Briefing.com reports. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The firm had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the previous year, the company posted $1.73 earnings per share. The business’s quarterly revenue was up 140.0% compared to the same quarter last year.

Northern Oil and Gas Trading Down 1.3 %

Shares of Northern Oil and Gas stock opened at $40.52 on Friday. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $43.80. The company’s fifty day simple moving average is $37.13 and its 200-day simple moving average is $38.61. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 4.86 and a beta of 1.80. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Jefferies Financial Group started coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target for the company. Truist Financial raised their price target on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler decreased their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Morgan Stanley decreased their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Chad W. Allen sold 1,500 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the transaction, the president now owns 107,876 shares of the company’s stock, valued at $4,153,226. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,008 shares of company stock worth $228,013 in the last ninety days. 2.80% of the stock is currently owned by 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.