Northern Oil and Gas, Inc. Announces Quarterly Dividend of $0.45 (NYSE:NOG)

Key Points

• Northern Oil and Gas, Inc. announced a quarterly dividend of $0.45 per share, payable on October 31st, which represents a dividend yield of 6.7%.
• The company reported earnings of $1.37 per share for the last quarter, exceeding expectations by $0.50, with a revenue of $706.81 million, up 26% year-over-year.
• Northern Oil and Gas maintains a dividend payout ratio of 48.4%, indicating it has sufficient earnings to cover the dividend, with projections suggesting this will decrease to 32.5% in the coming year.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) announced a quarterly dividend on Friday, August 1st, RTT News reports. Investors of record on Monday, September 29th will be given a dividend of 0.45 per share on Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%.

Northern Oil and Gas has a dividend payout ratio of 48.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Northern Oil and Gas to earn $5.53 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 32.5%.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $26.72 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92. Northern Oil and Gas has a 52-week low of $19.88 and a 52-week high of $44.31. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 4.18 and a beta of 1.50. The business's fifty day moving average is $29.09 and its 200 day moving average is $29.80.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.50. The company had revenue of $706.81 million during the quarter, compared to analysts' expectations of $555.54 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. Northern Oil and Gas's quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 EPS. Research analysts predict that Northern Oil and Gas will post 5.18 EPS for the current year.

Institutional Trading of Northern Oil and Gas

Institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC boosted its stake in shares of Northern Oil and Gas by 7.7% in the 4th quarter. LPL Financial LLC now owns 64,769 shares of the company's stock worth $2,407,000 after buying an additional 4,631 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Northern Oil and Gas by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock worth $418,916,000 after buying an additional 166,501 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Northern Oil and Gas in the 4th quarter worth $219,000. Pictet Asset Management Holding SA boosted its stake in shares of Northern Oil and Gas by 15.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,207 shares of the company's stock worth $528,000 after buying an additional 1,906 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Northern Oil and Gas in the 4th quarter worth $29,000. Institutional investors own 98.80% of the company's stock.

About Northern Oil and Gas

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.