Northern Oil and Gas, Inc. (NOG) to Distribute Quarterly Dividend of $0.45 on October 30th

Northern Oil and Gas, Inc. (NYSE:NOG) announced a quarterly dividend on Monday, August 3rd. Stockholders of record on Tuesday, September 29th will be given a dividend of 0.45 per share on Friday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date is Tuesday, September 29th.

Northern Oil and Gas has a payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Northern Oil and Gas to earn $3.73 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 48.3%.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock opened at $20.41 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43. Northern Oil and Gas has a twelve month low of $17.18 and a twelve month high of $31.17. The business has a 50-day moving average price of $20.22 and a 200 day moving average price of $24.09. The firm has a market cap of $2.22 billion, a PE ratio of -3.20 and a beta of 0.70.

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.