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

Northern Oil and Gas (NYSE:NOG - Get Free Report) posted its earnings results on Wednesday. The company reported $1.11 earnings per share (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 23.38% and a return on equity of 24.96%. The firm had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock traded down $2.38 during trading hours on Friday, reaching $33.01. 2,751,072 shares of the company's stock were exchanged, compared to its average volume of 1,432,546. Northern Oil and Gas has a 1 year low of $32.81 and a 1 year high of $44.31. The company has a market capitalization of $3.29 billion, a P/E ratio of 6.42 and a beta of 1.81. The business has a fifty day moving average of $37.62 and a two-hundred day moving average of $38.30. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.45%. Northern Oil and Gas's dividend payout ratio is presently 35.02%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Piper Sandler decreased their target price 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. Royal Bank of Canada decreased 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 note on Thursday, February 13th. Truist Financial boosted their target price 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. Capital One Financial cut shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday. Finally, Mizuho cut shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 target price for the company. in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $47.00.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares of the company's stock, valued at $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.