Northern Oil and Gas (NYSE:NOG) Releases Earnings Results, Beats Expectations By $0.26 EPS

Northern Oil and Gas (NYSE:NOG) issued its quarterly earnings data on Tuesday. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26, Briefing.com reports. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 32.99%. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter last year, the company earned $1.49 EPS. The business’s revenue was up 17.7% on a year-over-year basis.

Northern Oil and Gas Trading Down 4.3 %

Shares of Northern Oil and Gas stock traded down $1.87 during mid-day trading on Thursday, hitting $41.32. The stock had a trading volume of 645,113 shares, compared to its average volume of 1,332,118. The firm has a market cap of $4.18 billion, a P/E ratio of 7.04 and a beta of 1.79. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average of $38.96 and a two-hundred day moving average of $38.21. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $43.80.

Insider Activity

In related news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total transaction of $56,877.12. Following the completion of the transaction, the president now owns 109,020 shares of the company’s stock, valued at approximately $4,454,557.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 sale, the chief executive officer now owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total value of $56,877.12. Following the completion of the transaction, the president now directly owns 109,020 shares of the company’s stock, valued at $4,454,557.20. The disclosure for this sale can be found here. Insiders have sold a total of 6,534 shares of company stock valued at $252,144 in the last quarter. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

NOG has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus upped their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Citigroup cut their price objective on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.90.

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.