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

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors of record on Friday, March 28th will be given a dividend of 0.45 per share on Wednesday, April 30th. This represents a $1.80 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42.

Northern Oil and Gas has increased its dividend payment by an average of 119.5% annually over the last three years. Northern Oil and Gas has a dividend payout ratio of 33.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Northern Oil and Gas to earn $5.45 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 30.8%.

Northern Oil and Gas Price Performance

NYSE NOG opened at $37.78 on Thursday. The company has a market capitalization of $3.77 billion, a PE ratio of 4.54 and a beta of 1.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The business’s fifty day moving average is $39.80 and its 200 day moving average is $38.83. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same period in the previous year, the business earned $1.73 earnings per share. Northern Oil and Gas’s quarterly revenue was up 140.0% compared to the same quarter last year. Sell-side analysts predict that Northern Oil and Gas will post 5.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOG has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective on the stock. Truist Financial boosted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a research report on Friday, January 10th. Piper Sandler lowered their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.56.

Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 1,836 shares of company stock valued at $72,869 over the last ninety days. 2.80% of the stock is owned by insiders.

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.