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

Northern Oil and Gas, Inc. (NYSE:NOG) announced a quarterly dividend on Tuesday, February 24th. Shareholders of record on Monday, March 30th will be paid a dividend of 0.45 per share on Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Monday, March 30th.

Northern Oil and Gas has a payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northern Oil and Gas to earn $5.53 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 32.5%.

Northern Oil and Gas Trading Down 2.4%

Shares of Northern Oil and Gas stock opened at $26.53 on Thursday. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $32.62. The stock has a fifty day moving average price of $23.66 and a 200-day moving average price of $23.66. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $2.59 billion, a PE ratio of 14.99 and a beta of 1.01.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%.The firm had revenue of $610.18 million for the quarter, compared to analyst estimates of $524.98 million. During the same period in the previous year, the company posted $1.11 earnings per share. The business’s revenue was up 18.5% on a year-over-year basis. Equities research analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NOG. First Horizon Corp bought a new position in shares of Northern Oil and Gas during the 3rd quarter valued at $27,000. Laurel Wealth Advisors LLC boosted its stake in Northern Oil and Gas by 2,736.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after purchasing an additional 985 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Northern Oil and Gas by 181.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Northern Oil and Gas by 572.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after buying an additional 1,432 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Northern Oil and Gas in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

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.