Northern Oil and Gas, Inc. to Issue Quarterly Dividend of $0.40 (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Thursday, June 27th will be paid a dividend of 0.40 per share on Wednesday, July 31st. This represents a $1.60 annualized dividend and a yield of 3.98%. The ex-dividend date is Thursday, June 27th.

Northern Oil and Gas has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northern Oil and Gas to earn $6.35 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 25.2%.

Northern Oil and Gas Trading Up 0.7 %

Northern Oil and Gas stock traded up $0.28 during trading hours on Friday, reaching $40.25. The company had a trading volume of 1,098,395 shares, compared to its average volume of 1,445,874. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 1.32. Northern Oil and Gas has a 12-month low of $29.57 and a 12-month high of $43.75. The company has a 50-day moving average price of $39.61 and a 200 day moving average price of $37.34. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 6.52 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The firm had revenue of $396.35 million for the quarter, compared to analysts' expectations of $505.67 million. During the same quarter last year, the business earned $1.76 earnings per share. The business's revenue was down 31.9% on a year-over-year basis. Equities analysts forecast that Northern Oil and Gas will post 5.46 earnings per share for the current year.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 2,088 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the transaction, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President Adam A. Dirlam sold 2,088 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the sale, the president now owns 122,359 shares of the company's stock, valued at approximately $4,649,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James B. Evans sold 945 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the transaction, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,944 shares of company stock worth $436,614. 2.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NOG has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, April 23rd. Truist Financial upped their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the company a "buy" rating in a research report on Wednesday. Citigroup cut their price objective on Northern Oil and Gas from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday. Bank of America downgraded Northern Oil and Gas from a "buy" rating to an "underperform" rating and set a $39.00 target price for the company. in a report on Friday, January 5th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.90.

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.