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

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Tuesday, September 29th will be paid a dividend of 0.45 per share on Friday, October 30th. This represents a c) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend is Tuesday, September 29th.

Northern Oil and Gas has a dividend payout ratio of 48.4% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 1.2%

NYSE NOG traded down $0.26 on Tuesday, reaching $20.41. The stock had a trading volume of 1,875,897 shares, compared to its average volume of 2,744,369. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. Northern Oil and Gas has a 1 year low of $17.18 and a 1 year high of $31.17. The business has a 50 day moving average price of $20.26 and a 200 day moving average price of $24.11. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -3.20 and a beta of 0.70.

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.