Northern Oil and Gas, Inc. (NYSE:NOG) to Issue $0.42 Quarterly Dividend

Northern Oil and Gas, Inc. (NYSE:NOG) announced a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Shareholders of record on Monday, December 30th will be given a dividend of 0.42 per share on Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date is Monday, December 30th.

Northern Oil and Gas has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Northern Oil and Gas to earn $5.69 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 29.5%.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $36.04 on Friday. The business has a 50-day moving average price of $39.49 and a 200-day moving average price of $38.62. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 4.33 and a beta of 1.85. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $44.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.20. The firm had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 earnings per share. As a group, equities research analysts predict that Northern Oil and Gas will post 5.4 EPS for the current fiscal year.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now owns 83,792 shares in the company, valued at approximately $3,351,680. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

NOG has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Monday, December 16th. Royal Bank of Canada downgraded shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. Finally, Morgan Stanley decreased their target price 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.20.

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.