Northern Oil and Gas, Inc. (NOG) to Issue Quarterly Dividend of $0.42 on January 31st

Northern Oil and Gas, Inc. (NYSE:NOG) announced a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Investors of record on Monday, December 30th will be given a dividend of 0.42 per share on Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Monday, December 30th.

Northern Oil and Gas has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Northern Oil and Gas to earn $5.69 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 29.5%.

Northern Oil and Gas Trading Down 0.2 %

Northern Oil and Gas stock opened at $36.04 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 market capitalization of $3.60 billion, a price-to-earnings ratio of 4.33 and a beta of 1.85. The business’s fifty day simple moving average is $39.49 and its two-hundred day simple moving average is $38.62. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. Northern Oil and Gas’s revenue was up 140.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 EPS. As a group, equities analysts predict that Northern Oil and Gas will post 5.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on NOG. Morgan Stanley reduced their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Piper Sandler reduced their target price on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Jefferies Financial Group started coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. Finally, Mizuho cut shares of 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 note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.20.

Insider Activity at Northern Oil and Gas

In other news, insider Erik J. Romslo sold 1,500 shares of the business’s 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the transaction, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is owned by company insiders.

Northern Oil and Gas Company Profile

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.