Northern Oil and Gas, Inc. (NOG) To Go Ex-Dividend on December 30th

Northern Oil and Gas, Inc. (NYSE:NOG) announced a quarterly dividend on Wednesday, November 5th. Stockholders of record on Tuesday, December 30th will be paid a dividend of 0.45 per share on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend is Tuesday, December 30th.

Northern Oil and Gas has a dividend payout ratio of 48.4% indicating that 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 Price Performance

NYSE NOG opened at $21.37 on Friday. The stock has a market capitalization of $2.09 billion, a PE ratio of 12.07 and a beta of 1.05. The stock has a 50-day simple moving average of $22.18 and a 200 day simple moving average of $25.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.10. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $42.35.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Monday, March 6th. The company reported $1.06 EPS for the quarter. The company had revenue of $319.19 million during the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%. Research analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current year.

Institutional Investors Weigh In On Northern Oil and Gas

Institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC lifted its position in shares of Northern Oil and Gas by 45.7% during the 1st quarter. MetLife Investment Management LLC now owns 87,154 shares of the company’s stock worth $2,635,000 after buying an additional 27,336 shares during the period. Comerica Bank raised its stake in Northern Oil and Gas by 6.4% during the first quarter. Comerica Bank now owns 159,244 shares of the company’s stock worth $4,814,000 after acquiring an additional 9,610 shares in the last quarter. Caption Management LLC bought a new position in shares of Northern Oil and Gas during the first quarter valued at $317,000. AQR Capital Management LLC boosted its stake in shares of Northern Oil and Gas by 55.1% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock valued at $1,233,000 after purchasing an additional 14,492 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. bought a new stake in shares of Northern Oil and Gas in the 1st quarter worth about $14,137,000. 98.80% of the stock is owned by institutional investors and hedge funds.

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.