Northern Oil and Gas, Inc. (NOG) to Distribute Quarterly Dividend of $0.45 on January 29th

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Wednesday, December 30th will be paid a dividend of $0.45 per share on Friday, January 29th. This represents a $1.80 annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Wednesday, December 30th.

Northern Oil and Gas has a dividend payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Northern Oil and Gas to earn $4.87 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 37.0%.

Northern Oil and Gas Price Performance

Shares of NOG opened at $22.32 on Thursday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 6.70 and a beta of 0.85. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80. Northern Oil and Gas has a one year low of $17.18 and a one year high of $31.17. The stock’s fifty day moving average is $25.60 and its 200-day moving average is $24.54.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The company had revenue of $745.24 million for the quarter, compared to the consensus estimate of $594.09 million. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Northern Oil and Gas’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Northern Oil and Gas will post 3.84 EPS for the current year.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests, allowing it to participate in wells drilled and managed by other exploration and production companies while maintaining exposure to a broad portfolio of oil and gas assets.

Northern Oil and Gas has historically focused on properties in the Williston Basin of North Dakota and Montana and has expanded its operations into other major U.S.