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

Tributary Capital Management LLC raised its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 146.3% during the third quarter, HoldingsChannel.com reports. The firm owned 1,312,256 shares of the company’s stock after buying an additional 779,492 shares during the period. Tributary Capital Management LLC’s holdings in Northern Oil and Gas were worth $32,544,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Northern Oil and Gas by 178.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,857 shares of the company’s stock valued at $648,000 after buying an additional 14,637 shares during the last quarter. Creative Planning lifted its position in Northern Oil and Gas by 199.2% during the 2nd quarter. Creative Planning now owns 85,157 shares of the company’s stock worth $2,414,000 after acquiring an additional 56,694 shares during the period. Oxbow Advisors LLC acquired a new stake in Northern Oil and Gas during the 2nd quarter worth about $6,178,000. New York State Common Retirement Fund grew its stake in Northern Oil and Gas by 3.2% during the 2nd quarter. New York State Common Retirement Fund now owns 1,127,257 shares of the company’s stock valued at $31,958,000 after purchasing an additional 35,105 shares during the last quarter. Finally, Ethic Inc. acquired a new position in shares of Northern Oil and Gas in the second quarter valued at about $818,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. Mizuho lifted their price objective on shares of Northern Oil and Gas from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a report on Tuesday, October 14th. Finally, Citigroup cut 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 note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Hold” and a consensus target price of $33.25.

Northern Oil and Gas Stock Performance

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 debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.10. The company’s fifty day moving average price is $22.13 and its 200 day moving average price is $24.56. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $42.35.

Northern Oil and Gas (NYSE:NOG) last released 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 7.61% and a return on equity of 20.61%. The company had revenue of $319.19 million during the quarter. On average, research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

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

Northern Oil and Gas Company 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.