Northern Oil and Gas, Inc. (NOG) To Go Ex-Dividend on December 30th

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Shareholders of record on Monday, December 30th will be paid a dividend of 0.42 per share on Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Monday, December 30th.

Northern Oil and Gas has a dividend payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Northern Oil and Gas to earn $5.71 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 29.4%.

Northern Oil and Gas Trading Up 0.8 %

Shares of Northern Oil and Gas stock opened at $43.46 on Friday. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $44.31. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The stock has a market cap of $4.34 billion, a PE ratio of 5.22 and a beta of 1.80. The company has a 50-day moving average of $38.86 and a two-hundred day moving average of $38.65.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company’s quarterly revenue was up 140.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 earnings per share. On average, research analysts anticipate that Northern Oil and Gas will post 5.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NOG shares. Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $43.00 to $45.00 in a research report on Wednesday, November 20th. Piper Sandler raised their target price on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. Truist Financial lifted their price target on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Mizuho started coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Insider Buying and Selling

In related news, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the sale, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. The trade was a 1.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now directly owns 107,876 shares in the company, valued at $4,153,226. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock valued at $248,113 in the last quarter. Company insiders own 2.80% of the company’s stock.

About Northern Oil and Gas

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.