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

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

Northern Oil and Gas Stock Down 1.3 %

NOG traded down $0.54 on Thursday, hitting $40.52. The company had a trading volume of 1,790,260 shares, compared to its average volume of 1,333,061. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.80. The stock has a fifty day simple moving average of $37.13 and a 200-day simple moving average of $38.61. The firm has a market capitalization of $4.06 billion, a P/E ratio of 4.86 and a beta of 1.80.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was 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 dated Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,008 shares of company stock valued at $228,013 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

NOG has been the topic of several analyst reports. Morgan Stanley reduced their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Bank of America boosted 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 research note on Wednesday, July 10th. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target for the company. Finally, Mizuho assumed coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

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.