qwe -- I agree with your numbers: NLS' dividend yield is on a par with your oil stocks. And yeah, it's possible that might indicate that NLS is in the right price range now (something around $10 to $12) rather than where I believe its earnings say it should be ($18 to $20).
I do believe that price/earnings ratios are more fundamental than divident yields. Retained earnings aren't taxed a second time, which doesn't hurt, and they tend to be reflected in the stock price. For example: Microsoft never paid a dividend until the past year (and divvy is miniscule even now); Berkshire Hathaway has never paid a dividend at all; etc. Yet I don't think that means those two stocks are necessarily worthless.
In my opinion book value is very slippery -- these guys all write things up and down according to whim. It's a huge amount of work to really figure out the actual value of the stuff on the books (as opposed to what the accountants write on the books themselves). So I can't really comment on total book value. I don't rely on it much unless the majority of company's assets and liabilities are in liquid form (some insurance companies, for example).