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

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Wednesday, November 27th,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 dividend on an annualized basis 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 research 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 Price Performance

Shares of Northern Oil and Gas stock traded up $0.33 during trading on Wednesday, reaching $43.46. The company’s stock had a trading volume of 1,165,212 shares, compared to its average volume of 1,313,066. The stock has a 50-day moving average price of $38.59 and a two-hundred day moving average price of $38.58. 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 has a one year low of $31.13 and a one year high of $44.31. The stock has a market capitalization of $4.34 billion, a P/E ratio of 5.18 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company’s revenue was up 140.0% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. As a group, sell-side analysts anticipate that Northern Oil and Gas will post 5.42 EPS for the current fiscal year.

Insider Buying and Selling at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction that occurred 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 transaction, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,508 shares of company stock worth $248,113. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley lowered their price objective on 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. Truist Financial boosted their target price on 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. Mizuho began 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 for the company. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Piper Sandler boosted their target price on 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.