Northern Oil and Gas (NYSE:NOG) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Northern Oil and Gas (NYSE:NOG - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.10, Yahoo Finance reports. The business had revenue of $396.35 million during the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The firm's quarterly revenue was down 31.9% on a year-over-year basis. During the same quarter last year, the business earned $1.76 EPS.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock traded down $1.12 on Wednesday, hitting $39.67. 2,017,596 shares of the company's stock were exchanged, compared to its average volume of 1,295,044. The company has a 50-day simple moving average of $39.38 and a 200-day simple moving average of $37.35. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.75. The stock has a market capitalization of $4.01 billion, a PE ratio of 3.95 and a beta of 1.86.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.03%. Northern Oil and Gas's dividend payout ratio is currently 15.94%.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the sale, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider James B. Evans sold 945 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the sale, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas L. O'grady sold 3,750 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the completion of the sale, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock valued at $436,614 over the last three months. Corporate insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NOG shares. Jefferies Financial Group upped their price target on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Raymond James cut their price target on Northern Oil and Gas from $51.00 to $45.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Citigroup decreased their price objective on Northern Oil and Gas from $50.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus upped their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas currently has an average rating of "Moderate Buy" and a consensus target price of $47.40.

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.