Northern Oil and Gas, Inc. (NOG) to Issue Quarterly Dividend of $0.45 on July 31st

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Wednesday, May 13th. Investors of record on Monday, June 29th will be paid a dividend of 0.45 per share on Friday, July 31st. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date is Monday, June 29th.

Northern Oil and Gas has a payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Northern Oil and Gas to earn $3.61 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 49.9%.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $23.35 on Friday. Northern Oil and Gas has a fifty-two week low of $20.18 and a fifty-two week high of $32.62. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -3.67 and a beta of 0.75. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. The firm’s 50-day simple moving average is $27.18 and its 200 day simple moving average is $24.66.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The business had revenue of $5.03 million for the quarter, compared to analysts’ expectations of $511.38 million. During the same quarter last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Northern Oil and Gas will post 3.04 earnings per share for the current fiscal year.

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.