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

Northern Oil and Gas (NYSE:NOG) released its quarterly earnings data on Wednesday. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16), Zacks reports. The business had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.96%.

Northern Oil and Gas Price Performance

NYSE:NOG traded down $1.47 during trading hours on Friday, reaching $33.91. 485,770 shares of the company traded hands, compared to its average volume of 1,364,411. 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’s 50-day moving average is $37.62 and its 200-day moving average is $38.30. The stock has a market cap of $3.39 billion, a P/E ratio of 6.62 and a beta of 1.81. Northern Oil and Gas has a 1-year low of $33.17 and a 1-year high of $44.31.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.31%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is 32.68%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NOG shares. Royal Bank of Canada dropped 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 report on Thursday, February 13th. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday. Truist Financial raised their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho lowered 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. Finally, Piper Sandler lowered their price objective on shares of 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently 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.