Northern Oil and Gas, Inc. (NOG) To Go Ex-Dividend on March 30th

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Tuesday, February 24th. Shareholders of record on Monday, March 30th will be given a dividend of 0.45 per share on Thursday, April 30th. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Monday, March 30th.

Northern Oil and Gas has a payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Northern Oil and Gas to earn $5.53 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 32.5%.

Northern Oil and Gas Trading Up 1.3%

NYSE:NOG opened at $30.81 on Friday. The firm’s fifty day moving average is $26.58 and its 200-day moving average is $24.19. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.09 and a current ratio of 1.09. Northern Oil and Gas has a 52 week low of $19.88 and a 52 week high of $32.62. The firm has a market cap of $3.00 billion, a P/E ratio of 93.37 and a beta of 0.96.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.12. The company had revenue of $610.18 million during the quarter, compared to analysts’ expectations of $524.98 million. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. Northern Oil and Gas’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 earnings per share. Equities analysts expect that Northern Oil and Gas will post 5.18 earnings per share for the current year.

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.