Northern Oil & Gas said on February 6, 2023 that its board of directors declared a regular
quarterly dividend of $0.34 per share ($1.36 annualized).
Shareholders of record as of March 29, 2023
will receive the payment on April 28, 2023.
Previously, the company paid $0.30 per share.
At the current share price of $33.42 / share,
the stock’s dividend yield is 4.07%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.09%,
the lowest has been 0.61%,
and the highest has been 4.09%.
The standard deviation of yields is 1.08 (n=80).
The current dividend yield is
1.83 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.13.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
Analyst Price Forecast Suggests 51.19% Upside
As of February 8, 2023,
the average one-year price target for Northern Oil & Gas is $50.53.
The forecasts range from a low of $30.30 to a high of $65.10.
The average price target represents an increase of 51.19% from its latest reported closing price of $33.42.
The projected annual revenue for Northern Oil & Gas
is $2,151MM, an increase of 24.57%.
The projected annual EPS
is $11.29, an increase of 11.98%.
Fund Sentiment
There are 521 funds or institutions reporting positions in Northern Oil & Gas.
This is an increase
of
20
owner(s) or 3.99%.
Average portfolio weight of all funds dedicated to US:NOG is 0.2911%,
an increase
of 18.7998%.
Total shares owned by institutions increased
in the last three months by 0.88% to 82,091K shares.
What are large shareholders doing?
Capital World Investors
holds 6,054,000 shares
representing 7.13% ownership of the company.
No change in the last quarter.
SMCWX – SMALLCAP WORLD FUND INC
holds 6,054,000 shares
representing 7.13% ownership of the company.
No change in the last quarter.
Invesco
holds 2,630,126 shares
representing 3.10% ownership of the company.
In it’s prior filing, the firm reported owning 2,667,524 shares, representing
a decrease
of 1.42%.
The firm
increased
its portfolio allocation in NOG by 13.65% over the last quarter.
VSCAX – Invesco Small Cap Value Fund
holds 2,409,280 shares
representing 2.84% ownership of the company.
No change in the last quarter.
Copeland Capital Management
holds 2,297,895 shares
representing 2.71% ownership of the company.
In it’s prior filing, the firm reported owning 2,146,303 shares, representing
an increase
of 6.60%.
The firm
decreased
its portfolio allocation in NOG by 60.64% over the last quarter.
Northern Oil and Gas Background Information
(This description is provided by the company.)
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the Williston Basin Bakken and Three Forks play in North Dakota and Montana.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
