Northern Oil and Gas, Inc. (NYSE:NOG) Declares $0.45 Quarterly Dividend

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Wednesday, May 13th. Stockholders of record on Monday, June 29th will be given a dividend of 0.45 per share on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Monday, June 29th.

Northern Oil and Gas has a dividend payout ratio of 48.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Northern Oil and Gas to earn $3.54 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 50.8%.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $23.35 on Thursday. The company has a market cap of $2.47 billion, a P/E ratio of -3.66 and a beta of 0.75. Northern Oil and Gas has a twelve month low of $20.18 and a twelve month high of $32.62. The company’s 50-day moving average price is $27.27 and its 200-day moving average price is $24.65. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $5.03 million during the quarter, compared to analysts’ expectations of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. Northern Oil and Gas’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 EPS. On average, sell-side analysts forecast that Northern Oil and Gas will post 3.04 earnings per share for the current fiscal year.

Institutional Trading of Northern Oil and Gas

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Horizon Corp purchased a new stake in shares of Northern Oil and Gas during the 3rd quarter valued at approximately $27,000. Jones Financial Companies Lllp grew its position in Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after acquiring an additional 713 shares during the period. Ascentis Independent Advisors acquired a new stake in Northern Oil and Gas during the first quarter worth $33,000. EverSource Wealth Advisors LLC raised its position in Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after purchasing an additional 1,228 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Northern Oil and Gas by 85.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after purchasing an additional 702 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

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.