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

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders of record on Friday, March 28th will be paid a dividend of 0.45 per share on Wednesday, April 30th. This represents a $1.80 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42.

Northern Oil and Gas has raised its dividend payment by an average of 119.5% per year over the last three years. Northern Oil and Gas has a dividend payout ratio of 33.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Northern Oil and Gas to earn $5.45 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 30.8%.

Northern Oil and Gas Stock Up 0.9 %

Shares of NOG stock traded up $0.34 during trading on Wednesday, hitting $37.78. 1,016,471 shares of the company were exchanged, compared to its average volume of 1,412,442. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 4.54 and a beta of 1.85. The business’s 50-day simple moving average is $39.80 and its 200 day simple moving average is $38.83. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. During the same quarter last year, the firm posted $1.73 earnings per share. The company’s quarterly revenue was up 140.0% compared to the same quarter last year. As a group, analysts forecast that Northern Oil and Gas will post 5.34 EPS for the current fiscal year.

Analyst Ratings Changes

NOG has been the topic of a number of recent research reports. Piper Sandler decreased their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial lifted their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price target on shares of Northern Oil and Gas in a report on Friday, January 10th. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective for the company. Finally, Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Hold” and an average price target of $47.56.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,836 shares of company stock valued at $72,869 in the last quarter. 2.80% of the stock is currently owned by insiders.

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.