Northern Oil and Gas (NYSE:NOG) Releases Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Northern Oil and Gas (NYSE:NOG) announced its quarterly earnings data on Tuesday. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20, Briefing.com reports. The business had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS.

Northern Oil and Gas Trading Down 0.8 %

Shares of NYSE:NOG opened at $40.73 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $4.08 billion, a PE ratio of 4.89 and a beta of 1.80. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $43.80. The firm has a fifty day moving average price of $37.12 and a 200 day moving average price of $38.59.

Wall Street Analyst Weigh In

NOG has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Mizuho assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price for the company. Truist Financial increased their target price on Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a report on Thursday. Finally, Bank of America upped their price objective on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Insider Buying and Selling at Northern Oil and Gas

In other news, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the transaction, the chief financial officer now owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares in the company, valued at approximately $3,351,680. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,008 shares of company stock worth $228,013 over the last three months. Corporate 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.