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

Northern Oil and Gas, Inc. (NYSE:NOG) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Investors 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 3.87%. The ex-dividend date is Monday, December 30th.

Northern Oil and Gas has a dividend payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Northern Oil and Gas to earn $5.66 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 29.7%.

Northern Oil and Gas Price Performance

Shares of NOG opened at $43.46 on Thursday. The stock has a market cap of $4.34 billion, a P/E ratio of 5.22 and a beta of 1.80. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $44.31. The stock’s 50-day moving average price is $38.73 and its two-hundred day moving average price is $38.62. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million during 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 business’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.73 earnings per share. On average, equities analysts predict that Northern Oil and Gas will post 5.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NOG shares. Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $43.00 to $45.00 in a research note on Wednesday, November 20th. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. Morgan Stanley dropped 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 report on Monday, September 16th. Finally, Mizuho initiated coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. The trade was a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction 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 sale, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,508 shares of company stock worth $248,113. Insiders own 2.80% of the company’s stock.

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.