Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG) Announces Quarterly Dividend of $0.19

Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG – Get Rating) declared a quarterly dividend on Thursday, May 5th, Wall Street Journal reports. Stockholders of record on Wednesday, June 29th will be given a dividend of 0.19 per share by the energy company on Friday, July 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, June 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.14.

Shares of NOG opened at $27.29 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of -26.75, a P/E/G ratio of 0.51 and a beta of 2.25. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.66 and a quick ratio of 0.66. Northern Oil and Gas has a 1-year low of $14.03 and a 1-year high of $30.44.

Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) last issued its earnings results on Thursday, February 24th. The energy company reported $1.06 EPS for the quarter. The business had revenue of $332.37 million for the quarter. Northern Oil and Gas had a net margin of 1.28% and a negative return on equity of 351.74%. During the same period last year, the business posted $0.64 earnings per share. Research analysts forecast that Northern Oil and Gas will post 5.76 EPS for the current fiscal year.

NOG has been the subject of a number of research reports. Wells Fargo & Company lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective for the company. in a research note on Monday, March 14th. They noted that the move was a valuation call. Bank of America downgraded shares of Northern Oil and Gas from a “buy” rating to a “neutral” rating and increased their price objective for the company from $33.00 to $38.00 in a research note on Tuesday, March 8th. Citigroup boosted their price objective on shares of Northern Oil and Gas from $31.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. Raymond James increased their target price on Northern Oil and Gas from $45.00 to $48.00 and gave the company a “strong-buy” rating in a research report on Monday, April 25th. Finally, Royal Bank of Canada boosted their price target on Northern Oil and Gas from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 1st. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $36.91.

In related news, insider Michael D. Kelly sold 13,000 shares of Northern Oil and Gas stock in a transaction on Friday, April 1st. The shares were sold at an average price of $28.34, for a total value of $368,420.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lisa Meier sold 12,500 shares of the stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $25.88, for a total value of $323,500.00. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Large investors have recently bought and sold shares of the company. State of Tennessee Treasury Department acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at approximately $140,000. Marshall Wace LLP acquired a new stake in shares of Northern Oil and Gas in the 4th quarter worth $145,000. Guggenheim Capital LLC acquired a new stake in shares of Northern Oil and Gas in the 4th quarter worth $381,000. Legal & General Group Plc raised its holdings in shares of Northern Oil and Gas by 22.0% during the 4th quarter. Legal & General Group Plc now owns 29,532 shares of the energy company’s stock worth $608,000 after acquiring an additional 5,320 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Northern Oil and Gas by 116.6% during the 3rd quarter. Royal Bank of Canada now owns 40,983 shares of the energy company’s stock valued at $877,000 after acquiring an additional 22,064 shares during the last quarter. 88.47% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Company Profile (Get Rating)

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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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