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

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Tuesday, February 24th. Investors of record on Monday, March 30th will be paid a dividend of 0.45 per share on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Monday, March 30th.

Northern Oil and Gas has a payout ratio of 48.4% meaning its dividend is sufficiently covered by earnings. 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 Down 2.4%

NYSE:NOG traded down $0.66 during trading hours on Wednesday, hitting $26.52. The company’s stock had a trading volume of 1,036,036 shares, compared to its average volume of 1,968,556. Northern Oil and Gas has a 52-week low of $19.88 and a 52-week high of $32.62. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $2.59 billion, a P/E ratio of 14.97 and a beta of 1.01. The stock has a fifty day moving average of $23.58 and a 200-day moving average of $23.64.

Northern Oil and Gas Company Profile

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.