Northern Oil and Gas (NYSE:NOG) Announces Earnings Results, Misses Estimates By $0.12 EPS

Key Points

• Northern Oil and Gas reported EPS of $0.74, missing analysts' consensus of $0.86 by $0.12, while recording a return on equity of 19.74% and a net margin of 1.57%.
• The company declared a quarterly dividend of $0.45 (annualized $1.80), a 6.5% yield payable April 30 (ex-dividend March 30), but the payout ratio is an unusually high 545.45%.
• Shares traded up to $27.63 after the release; the stock has a $2.92 billion market cap, a P/E of 83.7, and a MarketBeat consensus rating of Hold with an average target price of $32.

Northern Oil and Gas (NYSE:NOG - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.12), FiscalAI reports. Northern Oil and Gas had a return on equity of 19.74% and a net margin of 1.57%.

Northern Oil and Gas Price Performance

NOG traded up $0.76 during trading on Tuesday, reaching $27.63. 2,092,300 shares of the stock were exchanged, compared to its average volume of 2,469,667. The business's 50 day moving average price is $27.67 and its two-hundred day moving average price is $24.41. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 83.71 and a beta of 0.94. Northern Oil and Gas has a 1 year low of $20.18 and a 1 year high of $32.62.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Monday, March 30th. Northern Oil and Gas's payout ratio is presently 545.45%.

Institutional Trading of Northern Oil and Gas

Several institutional investors and hedge funds have recently made changes to their positions in NOG. Jones Financial Companies Lllp lifted its position in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock valued at $33,000 after acquiring an additional 713 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock valued at $36,000 after acquiring an additional 1,432 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company's stock valued at $43,000 after acquiring an additional 1,228 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Northern Oil and Gas by 85.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company's stock valued at $44,000 after acquiring an additional 702 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Northern Oil and Gas by 14.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company's stock valued at $66,000 after acquiring an additional 400 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Royal Bank Of Canada upped their price objective on Northern Oil and Gas from $30.00 to $35.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 8th. Bank of America boosted their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Piper Sandler boosted their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Morgan Stanley reiterated an "underweight" rating on shares of Northern Oil and Gas in a research report on Friday, March 27th. Finally, Citigroup decreased their target price on Northern Oil and Gas from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.00.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company's primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.

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