Tributary Capital Management LLC Raises Stock Holdings in Northern Oil and Gas, Inc. $NOG

Tributary Capital Management LLC grew its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 146.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,312,256 shares of the company’s stock after purchasing an additional 779,492 shares during the period. Tributary Capital Management LLC owned about 1.34% of Northern Oil and Gas worth $32,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NOG. DLD Asset Management LP grew its holdings in shares of Northern Oil and Gas by 42.9% in the second quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock worth $708,750,000 after purchasing an additional 7,500,000 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Northern Oil and Gas by 25.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company’s stock valued at $56,867,000 after buying an additional 397,128 shares during the period. Westfield Capital Management Co. LP boosted its position in Northern Oil and Gas by 6.3% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,740,304 shares of the company’s stock valued at $49,338,000 after buying an additional 103,366 shares during the period. New York State Common Retirement Fund grew its stake in Northern Oil and Gas by 3.2% in the 2nd quarter. New York State Common Retirement Fund now owns 1,127,257 shares of the company’s stock worth $31,958,000 after acquiring an additional 35,105 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Northern Oil and Gas by 80.2% during the second quarter. Jennison Associates LLC now owns 924,629 shares of the company’s stock worth $26,213,000 after acquiring an additional 411,457 shares during the period. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Trading Down 3.1%

Shares of NYSE:NOG opened at $20.38 on Thursday. The company has a market capitalization of $1.99 billion, a PE ratio of 11.51 and a beta of 0.98. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.05. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $42.35. The business’s fifty day simple moving average is $22.13 and its 200-day simple moving average is $24.56.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Monday, March 6th. The company reported $1.06 earnings per share for the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%.The firm had revenue of $319.19 million during the quarter. As a group, equities research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 101.69%.

Analysts Set New Price Targets

A number of analysts recently issued reports on NOG shares. Mizuho boosted their price target on Northern Oil and Gas from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Citigroup decreased their target price on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. Finally, Morgan Stanley restated an “underweight” rating and set a $26.00 price target (down previously from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.25.

Northern Oil and Gas Profile

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.