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

Northern Oil and Gas, Inc. (NYSE:NOG) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Wednesday, December 30th will be given a dividend of $0.45 per share on Friday, January 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.4%. 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. Equities 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 Trading Down 3.2%

NOG opened at $24.18 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.80. Northern Oil and Gas has a fifty-two week low of $17.18 and a fifty-two week high of $31.17. The company’s 50 day moving average price is $25.69 and its two-hundred day moving average price is $24.54. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -4.62 and a beta of 0.85.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Thursday, August 6th. The company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%. The firm had revenue of $745.24 million for the quarter, compared to the consensus estimate of $594.09 million. During the same period in the prior year, the business earned $1.37 EPS. Northern Oil and Gas’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts predict that Northern Oil and Gas will post 3.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOG. Wall Street Zen upgraded shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Mizuho lifted their target price on Northern Oil and Gas from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Scotiabank began coverage on Northern Oil and Gas in a research report on Wednesday, October 14th. They set a “sector perform” rating and a $27.00 price target on the stock. Weiss Ratings raised shares of Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Finally, Raymond James Financial restated an “outperform” rating and issued a $34.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, October 28th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas currently has an average rating of “Hold” and a consensus price target of $31.56.

About Northern Oil and Gas

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.