Tributary Capital Management LLC Acquires 62,300 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Tributary Capital Management LLC boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 588,487 shares of the company’s stock after purchasing an additional 62,300 shares during the period. Northern Oil and Gas accounts for approximately 1.7% of Tributary Capital Management LLC’s portfolio, making the stock its 25th largest position. Tributary Capital Management LLC’s holdings in Northern Oil and Gas were worth $21,868,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after purchasing an additional 100,761 shares during the period. Copeland Capital Management LLC increased its holdings in Northern Oil and Gas by 0.6% in the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after buying an additional 12,079 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Northern Oil and Gas by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock valued at $34,902,000 after buying an additional 103,314 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Northern Oil and Gas by 41.4% during the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock worth $33,320,000 after acquiring an additional 275,704 shares during the period. Finally, Emerald Advisers LLC boosted its position in shares of Northern Oil and Gas by 7.9% during the 3rd quarter. Emerald Advisers LLC now owns 611,509 shares of the company’s stock valued at $21,654,000 after acquiring an additional 44,510 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

Insider Activity

In related news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 1,836 shares of company stock worth $72,869. 2.80% of the stock is currently owned by company insiders.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $37.94 on Friday. The firm has a market cap of $3.79 billion, a PE ratio of 4.55 and a beta of 1.85. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $44.31. The company has a fifty day moving average price of $39.96 and a 200 day moving average price of $38.85. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter last year, the firm posted $1.73 EPS. The company’s quarterly revenue was up 140.0% on a year-over-year basis. Research analysts predict that Northern Oil and Gas, Inc. will post 5.34 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.43%. Northern Oil and Gas’s payout ratio is 20.17%.

Analyst Ratings Changes

A number of research analysts have commented on NOG shares. Piper Sandler cut their price target on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Jefferies Financial Group began coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective for the company. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research note on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price target on shares of Northern Oil and Gas in a report on Friday, January 10th. Finally, Truist Financial raised their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.78.

Northern Oil and Gas Profile

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