Northern Oil and Gas, Inc. (NYSE:NOG) Shareholders to Get $0.45 Quarterly Dividend

Key Points

• Northern Oil and Gas declared a quarterly dividend of $0.45 per share, payable January 29 to shareholders of record December 30. The dividend annualizes to $1.80 per share, a 7.2% yield.
• The dividend appears well covered: the current payout ratio is 48.4%, and analysts expect a 37.0% payout ratio next year.
• In its latest reported quarter, the company missed EPS estimates ($1.13 vs. $1.18) but exceeded revenue estimates, with revenue up 5.4% year over year. Analysts’ consensus rating is Hold, with a $31.56 average price target.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Wednesday, December 30th will be given a dividend of $0.45 per share on Friday, January 29th. This represents a $1.80 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Wednesday, December 30th.

Northern Oil and Gas has a payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Northern Oil and Gas to earn $4.87 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 37.0%.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $24.99 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80. Northern Oil and Gas has a twelve month low of $17.18 and a twelve month high of $31.17. The firm's 50 day moving average price is $25.69 and its two-hundred day moving average price is $24.54. The firm has a market cap of $2.66 billion, a P/E ratio of -4.83 and a beta of 0.85.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The firm had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 EPS. On average, analysts forecast that Northern Oil and Gas will post 3.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOG shares. Mizuho raised their price objective on Northern Oil and Gas from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, October 14th. Scotiabank assumed coverage on Northern Oil and Gas in a report on Wednesday, October 14th. They set a "sector perform" rating and a $27.00 price target for the company. Morgan Stanley restated an "underweight" rating and set a $26.00 price objective (up from $25.00) on shares of Northern Oil and Gas in a report on Thursday, October 15th. Raymond James Financial restated an "outperform" rating and issued a $34.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, October 28th. Finally, Wall Street Zen upgraded Northern Oil and Gas from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $31.56.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests, allowing it to participate in wells drilled and managed by other exploration and production companies while maintaining exposure to a broad portfolio of oil and gas assets.

Northern Oil and Gas has historically focused on properties in the Williston Basin of North Dakota and Montana and has expanded its operations into other major U.S.

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