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

Northern Oil and Gas, Inc. (NYSE:NOG) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Tuesday, September 29th will be given a dividend of 0.45 per share on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Tuesday, September 29th.

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 $3.73 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 48.3%.

Northern Oil and Gas Stock Performance

NOG stock traded down $0.26 during trading on Tuesday, reaching $20.41. 1,875,897 shares of the stock were exchanged, compared to its average volume of 2,744,369. Northern Oil and Gas has a twelve month low of $17.18 and a twelve month high of $31.17. The company has a market capitalization of $2.22 billion, a P/E ratio of -3.20 and a beta of 0.70. The stock has a 50 day simple moving average of $20.26 and a 200-day simple moving average of $24.11. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43.

Insiders Place Their Bets

In related news, Director Bahram Akradi purchased 25,760 shares of the stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the transaction, the director directly owned 1,713,444 shares of the company’s stock, valued at approximately $33,240,813.60. The trade was a 1.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Institutional investors and hedge funds have recently made changes to their positions in the company. Deprince Race & Zollo Inc. bought a new position in Northern Oil and Gas in the 4th quarter valued at $25,492,000. First Trust Advisors LP grew its holdings in shares of Northern Oil and Gas by 116.8% during the first quarter. First Trust Advisors LP now owns 1,167,971 shares of the company’s stock worth $34,140,000 after purchasing an additional 629,197 shares during the last quarter. Bridgeway Capital Management LLC acquired a new stake in shares of Northern Oil and Gas in the third quarter valued at $11,295,000. Hsbc Holdings PLC acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at $8,115,000. Finally, AQR Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 568.7% in the second quarter. AQR Capital Management LLC now owns 272,719 shares of the company’s stock valued at $7,732,000 after buying an additional 231,938 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.