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

Tributary Capital Management LLC boosted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 588,487 shares of the company’s stock after purchasing an additional 62,300 shares during the quarter. Northern Oil and Gas comprises 1.7% of Tributary Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Tributary Capital Management LLC owned 0.59% of Northern Oil and Gas worth $21,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NOG. Legacy Investment Solutions LLC bought a new position in shares of Northern Oil and Gas in the third quarter worth about $25,000. Signaturefd LLC lifted its stake in shares of Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after buying an additional 427 shares during the period. Quarry LP lifted its stake in Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after acquiring an additional 874 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after buying an additional 259 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Northern Oil and Gas by 58.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock valued at $62,000 after purchasing an additional 647 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 3.8 %

NOG stock opened at $37.94 on Friday. The company has a 50 day moving average price of $39.96 and a two-hundred day moving average price of $38.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $44.31. The stock has a market capitalization of $3.79 billion, a P/E ratio of 4.55 and a beta of 1.85.

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

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.42 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 20.17%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 1,836 shares of company stock worth $72,869. 2.80% of the stock is owned by company insiders.

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.