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

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) will be releasing its earnings data after the market closes on Thursday, May 5th. Analysts expect Northern Oil and Gas to post earnings of $1.27 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The energy company reported $1.06 earnings per share (EPS) for the quarter. Northern Oil and Gas had a negative return on equity of 351.74% and a net margin of 1.28%. The business had revenue of $332.37 million during the quarter. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, analysts expect Northern Oil and Gas to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

NYSEAMERICAN NOG opened at $24.74 on Thursday. Northern Oil and Gas has a fifty-two week low of $13.14 and a fifty-two week high of $30.44. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -24.25, a P/E/G ratio of 0.51 and a beta of 2.25.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Wednesday, March 30th will be issued a dividend of $0.14 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.08. This represents a $0.56 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, March 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is -54.90%.

In other news, insider Michael D. Kelly sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $28.34, for a total value of $368,420.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lisa Meier sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $25.88, for a total value of $323,500.00. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in Northern Oil and Gas by 260.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 568,624 shares of the energy company’s stock worth $11,702,000 after purchasing an additional 410,903 shares during the last quarter. State Street Corp raised its position in Northern Oil and Gas by 19.1% in the 4th quarter. State Street Corp now owns 2,558,642 shares of the energy company’s stock worth $52,868,000 after purchasing an additional 410,376 shares during the last quarter. BlackRock Inc. raised its position in Northern Oil and Gas by 10.9% in the 4th quarter. BlackRock Inc. now owns 4,112,572 shares of the energy company’s stock worth $84,638,000 after purchasing an additional 404,438 shares during the last quarter. Sei Investments Co. raised its position in Northern Oil and Gas by 298.5% in the 4th quarter. Sei Investments Co. now owns 215,759 shares of the energy company’s stock worth $4,408,000 after purchasing an additional 161,623 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Northern Oil and Gas by 135.2% in the 4th quarter. JPMorgan Chase & Co. now owns 249,360 shares of the energy company’s stock worth $5,131,000 after purchasing an additional 143,347 shares during the last quarter. 88.47% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on NOG. Raymond James raised their target price on Northern Oil and Gas from $45.00 to $48.00 and gave the company a “strong-buy” rating in a report on Monday. Royal Bank of Canada raised their target price on Northern Oil and Gas from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, March 1st. Johnson Rice upgraded Northern Oil and Gas from an “accumulate” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, March 15th. Piper Sandler lifted their price objective on Northern Oil and Gas from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, April 7th. Finally, TheStreet upgraded Northern Oil and Gas from a “d-” rating to a “c-” rating in a research note on Friday, February 25th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $36.91.

About Northern Oil and Gas (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.

Further Reading

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

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