Tributary Capital Management LLC Lowers Stake in Northern Oil and Gas, Inc. $NOG

Tributary Capital Management LLC lowered its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 532,764 shares of the company’s stock after selling 86,234 shares during the quarter. Tributary Capital Management LLC’s holdings in Northern Oil and Gas were worth $15,104,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Holdings LLC purchased a new position in Northern Oil and Gas during the first quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Northern Oil and Gas by 133.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock valued at $27,000 after purchasing an additional 545 shares in the last quarter. UMB Bank n.a. lifted its holdings in Northern Oil and Gas by 200.3% during the second quarter. UMB Bank n.a. now owns 955 shares of the company’s stock valued at $27,000 after purchasing an additional 637 shares in the last quarter. Signaturefd LLC lifted its holdings in Northern Oil and Gas by 60.0% during the first quarter. Signaturefd LLC now owns 1,080 shares of the company’s stock valued at $33,000 after purchasing an additional 405 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Up 0.2%

NOG stock opened at $21.44 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 3.54 and a beta of 1.61. The firm’s fifty day simple moving average is $24.68 and its two-hundred day simple moving average is $26.27.

Northern Oil and Gas (NYSE:NOG) last posted 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 net margin of 23.62% and a return on equity of 22.12%. The business had revenue of $319.19 million for the quarter. As a group, analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 8.4%. Northern Oil and Gas’s payout ratio is 29.70%.

Analyst Ratings Changes

Several equities analysts have weighed in on NOG shares. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price target (down previously from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. William Blair began coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Citigroup reduced their price objective on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday. Mizuho reduced their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.00.

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.