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

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

Northern Oil and Gas Stock Performance

Shares of NOG stock traded down $1.77 during mid-day trading on Thursday, reaching $41.42. 2,038,168 shares of the company’s stock traded hands, compared to its average volume of 1,341,595. The firm has a market capitalization of $4.19 billion, a PE ratio of 6.67 and a beta of 1.79. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50 day moving average price of $38.96 and a two-hundred day moving average price of $38.21. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $43.80.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NOG. Morgan Stanley upped their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Stifel Nicolaus increased their price target 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. Bank of America upped their price objective on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set 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 given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.90.

Insider Activity at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.86, for a total transaction of $56,877.12. Following the transaction, the president now directly owns 109,020 shares of the company’s stock, valued at approximately $4,454,557.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction 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 transaction, the president now owns 109,020 shares in the company, valued at approximately $4,454,557.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,534 shares of company stock worth $252,144. 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.