Northern Oil and Gas (NYSEAMERICAN:NOG) Issues Earnings Results

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) issued its quarterly earnings data on Wednesday. The energy company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18, Fidelity Earnings reports. Northern Oil and Gas had a negative return on equity of 351.74% and a net margin of 1.28%. During the same quarter last year, the company posted $0.92 earnings per share.

Northern Oil and Gas Stock Up 4.2 %

NYSEAMERICAN:NOG traded up $1.07 during trading hours on Friday, hitting $26.76. The company had a trading volume of 894,406 shares, compared to its average volume of 1,181,674. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 3.73. The stock has a market cap of $2.07 billion, a P/E ratio of -26.24, a PEG ratio of 0.51 and a beta of 2.25. Northern Oil and Gas has a 1 year low of $14.03 and a 1 year high of $39.10.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, September 29th will be issued a $0.25 dividend. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.19. This represents a $1.00 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Wednesday, September 28th. Northern Oil and Gas’s dividend payout ratio is presently -74.51%.

Insider Buying and Selling at Northern Oil and Gas

In other news, major shareholder Robert B. Rowling sold 400,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $33.26, for a total value of $13,304,000.00. Following the transaction, the insider now owns 8,563,719 shares of the company’s stock, valued at approximately $284,829,293.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Robert B. Rowling sold 400,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $33.26, for a total value of $13,304,000.00. Following the transaction, the insider now owns 8,563,719 shares of the company’s stock, valued at approximately $284,829,293.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Robert B. Rowling sold 117,860 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $33.01, for a total value of $3,890,558.60. Following the completion of the transaction, the insider now directly owns 8,263,719 shares in the company, valued at approximately $272,785,364.19. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of large investors have recently bought and sold shares of NOG. Bank of New York Mellon Corp increased its holdings in shares of Northern Oil and Gas by 7.2% during the 1st quarter. Bank of New York Mellon Corp now owns 434,031 shares of the energy company’s stock worth $12,236,000 after buying an additional 29,141 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Northern Oil and Gas during the 1st quarter worth $200,000. Cetera Advisor Networks LLC increased its holdings in shares of Northern Oil and Gas by 40.4% during the 1st quarter. Cetera Advisor Networks LLC now owns 17,783 shares of the energy company’s stock worth $501,000 after buying an additional 5,121 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Northern Oil and Gas during the 1st quarter worth $207,000. Finally, Citigroup Inc. boosted its position in Northern Oil and Gas by 32.9% during the 1st quarter. Citigroup Inc. now owns 88,939 shares of the energy company’s stock worth $2,507,000 after purchasing an additional 22,033 shares during the period. Hedge funds and other institutional investors own 88.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on Northern Oil and Gas from $31.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. TheStreet upgraded Northern Oil and Gas from a “d” rating to a “b-” rating in a report on Wednesday. Truist Financial lifted their target price on shares of Northern Oil and Gas from $52.00 to $58.00 in a report on Monday, June 13th. Piper Sandler cut their target price on shares of Northern Oil and Gas from $51.00 to $49.00 in a research report on Friday, July 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Northern Oil and Gas from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, July 11th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.56.

Northern Oil and Gas Company Profile

(Get Rating)

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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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Earnings History for Northern Oil and Gas (NYSEAMERICAN:NOG)

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