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

Northern Oil and Gas, Inc. (NYSE:NOG) declared a quarterly dividend on Tuesday, February 24th. Stockholders of record on Monday, March 30th will be given 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Northern Oil and Gas stock traded down $0.67 during midday trading on Wednesday, reaching $26.51. 911,678 shares of the company were exchanged, compared to its average volume of 1,965,407. The firm’s 50-day simple moving average is $23.58 and its 200-day simple moving average is $23.64. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $32.62. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 15.00 and a beta of 1.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.10.

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.