Tributary Capital Management LLC Sells 3,088 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Tributary Capital Management LLC reduced its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 0.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 547,595 shares of the company’s stock after selling 3,088 shares during the period. Northern Oil and Gas comprises 1.8% of Tributary Capital Management LLC’s portfolio, making the stock its 15th biggest position. Tributary Capital Management LLC owned about 0.54% of Northern Oil and Gas worth $21,729,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Northern Oil and Gas by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after acquiring an additional 2,827,642 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Northern Oil and Gas by 27.0% during the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after acquiring an additional 545,297 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Northern Oil and Gas by 9.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after acquiring an additional 131,448 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Northern Oil and Gas by 13.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock worth $58,153,000 after acquiring an additional 175,000 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Northern Oil and Gas by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,406,354 shares of the company’s stock worth $52,134,000 after acquiring an additional 24,898 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Stock Up 1.4 %

Shares of NYSE:NOG traded up $0.53 on Monday, reaching $37.70. The company had a trading volume of 1,541,057 shares, compared to its average volume of 1,295,788. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.75. The firm’s 50 day simple moving average is $39.44 and its 200-day simple moving average is $37.79. The firm has a market capitalization of $3.81 billion, a PE ratio of 6.11 and a beta of 1.80. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The firm had revenue of $396.35 million for the quarter, compared to the consensus estimate of $505.67 million. During the same period in the previous year, the business earned $1.76 EPS. The firm’s revenue for the quarter was down 31.9% on a year-over-year basis. As a group, analysts expect that Northern Oil and Gas, Inc. will post 5.03 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 4.24%. Northern Oil and Gas’s dividend payout ratio (DPR) is 25.93%.

Analysts Set New Price Targets

NOG has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Truist Financial lifted their target price on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Stifel Nicolaus lifted their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Morgan Stanley lifted their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.90.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total transaction of $56,877.12. Following the transaction, the president now directly owns 109,020 shares in the company, valued at approximately $4,454,557.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.86, for a total transaction of $56,877.12. Following the sale, the president now owns 109,020 shares in the company, valued at approximately $4,454,557.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders have sold a total of 8,292 shares of company stock worth $342,852 in the last ninety days. 2.80% of the stock is owned by insiders.

About Northern Oil and Gas

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.