Northern Oil and Gas, Inc. (NYSE:NOG) Shares Set to Pay Quarterly Dividend of $0.45

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Tuesday, November 3rd. Shareholders 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 yield of 7.2%. 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. 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 Stock Down 3.1%

Shares of NYSE:NOG opened at $24.99 on Wednesday. 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 52-week low of $17.18 and a 52-week high of $31.17. The business’s 50 day simple moving average is $25.69 and its two-hundred day simple moving average is $24.54. The firm has a market cap of $2.66 billion, a P/E ratio of -4.83 and a beta of 0.85.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing the consensus estimate 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 firm 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 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts forecast that Northern Oil and Gas will post 3.84 EPS for the current fiscal year.

Institutional Trading of Northern Oil and Gas

Several institutional investors and hedge funds have recently modified their holdings of NOG. Bank of New York Mellon Corp bought a new position in shares of Northern Oil and Gas in the second quarter valued at approximately $26,769,000. First Trust Advisors LP boosted its position in shares of Northern Oil and Gas by 116.8% during the first quarter. First Trust Advisors LP now owns 1,167,971 shares of the company’s stock valued at $34,140,000 after buying an additional 629,197 shares during the last quarter. Requisite Capital Management LLC purchased a new position in shares of Northern Oil and Gas during the second quarter valued at approximately $10,519,000. Counterpoint Mutual Funds LLC grew its holdings in Northern Oil and Gas by 3,057.0% during the third quarter. Counterpoint Mutual Funds LLC now owns 427,012 shares of the company’s stock worth $9,770,000 after buying an additional 413,486 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Northern Oil and Gas during the first quarter worth $8,115,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.