Northern Oil and Gas, Inc. Plans Quarterly Dividend of $0.42 (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOG) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 3.87%. The ex-dividend date 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 $5.66 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 29.7%.

Northern Oil and Gas Trading Up 0.8 %

Shares of NYSE NOG opened at $43.46 on Thursday. 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 stock has a market cap of $4.34 billion, a price-to-earnings ratio of 5.22 and a beta of 1.80. The business has a 50 day simple moving average of $38.73 and a 200 day simple moving average of $38.62. Northern Oil and Gas has a 52 week low of $31.13 and a 52 week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s quarterly revenue was up 140.0% compared to the same quarter last year. On average, research analysts predict that Northern Oil and Gas will post 5.42 earnings per share for the current fiscal year.

Insider Transactions at Northern Oil and Gas

In other news, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, 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. Over the last three months, insiders have sold 6,508 shares of company stock worth $248,113. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NOG. Morgan Stanley decreased 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 report on Monday, September 16th. Piper Sandler upped their price target on Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Truist Financial boosted their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Mizuho started coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.50.

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.