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

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) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Monday, June 29th.

Northern Oil and Gas has a payout ratio of 48.4% indicating that 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 Price Performance

Northern Oil and Gas stock opened at $23.35 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. The business has a 50 day simple moving average of $27.27 and a 200-day simple moving average of $24.65. Northern Oil and Gas has a 12 month low of $20.18 and a 12 month high of $32.62. The stock has a market capitalization of $2.47 billion, a PE ratio of -3.66 and a beta of 0.75.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $5.03 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm posted $1.33 EPS. Equities analysts predict that Northern Oil and Gas will post 3.04 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.