Northern Oil and Gas (NOG) Set to Announce Earnings on Tuesday

Northern Oil and Gas (NYSE:NOG) is scheduled to release its earnings data after the market closes on Tuesday, July 30th. Analysts expect Northern Oil and Gas to announce earnings of $1.22 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The business had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The company’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.76 EPS. On average, analysts expect Northern Oil and Gas to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Northern Oil and Gas Trading Up 1.8 %

Shares of NYSE NOG opened at $40.19 on Monday. The stock has a market capitalization of $4.06 billion, a P/E ratio of 6.51 and a beta of 1.79. The stock’s 50 day moving average price is $38.91 and its two-hundred day moving average price is $38.10. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.75.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.98%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Insider Buying and Selling

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares in the company, valued at $8,526,859.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.88, for a total value of $52,728.96. Following the transaction, the president now owns 107,628 shares in the company, valued at $4,076,948.64. The disclosure for this sale can be found here. Insiders sold 6,534 shares of company stock valued at $252,144 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOG. 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. Citigroup dropped their price target on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Morgan Stanley raised their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Finally, Bank of America raised their target price on 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 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.com, Northern Oil and Gas has a consensus rating of “Moderate Buy” and an average price target of $48.80.

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.