Northern Oil and Gas (NYSE:NOG) Releases Earnings Results

Northern Oil and Gas (NYSE:NOG) released its quarterly earnings data on Tuesday. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.26, Briefing.com reports. The firm had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 32.99%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.49 earnings per share.

Northern Oil and Gas Stock Down 4.1 %

NYSE NOG traded down $1.77 during trading on Thursday, reaching $41.42. 2,038,168 shares of the company’s stock were exchanged, compared to its average volume of 1,341,595. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $43.80. The stock has a market cap of $4.19 billion, a P/E ratio of 6.67 and a beta of 1.79. The company has a 50 day moving average price of $38.96 and a two-hundred day moving average price of $38.21.

Analyst Ratings Changes

NOG has been the subject of several recent analyst reports. Bank of America upped their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Piper Sandler boosted their price objective on Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Morgan Stanley boosted their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Truist Financial lifted 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 Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus price target of $48.90.

Insider Buying and Selling

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.88, for a total transaction of $52,728.96. Following the transaction, the president now directly owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. The disclosure for this sale can be found here. Insiders sold a total of 6,534 shares of company stock worth $252,144 over the last 90 days. 2.80% of the stock is owned by insiders.

About Northern Oil and Gas

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.