Northern Oil and Gas, Inc. $NOG Shares Bought by Tributary Capital Management LLC

Key Points

• Tributary Capital Management increased its stake in Northern Oil and Gas by 27.7% in Q4 to 837,685 shares (added 181,557 shares), a holding worth about $17.99 million and the firm's 17th largest position.
• Northern Oil and Gas declared a quarterly dividend of $0.45 per share (annualized $1.80, yield 7.3%), though the payout ratio is an unusually high 545.45%, which may raise sustainability concerns.
• Institutional ownership stands at about 98.8%; the company beat Q4 estimates with EPS $0.83 (vs. $0.71) and revenue $610.2M (vs. $525.0M), but analysts maintain a consensus "Hold" rating with a $31.29 target price.

Tributary Capital Management LLC grew its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 27.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 837,685 shares of the company's stock after purchasing an additional 181,557 shares during the period. Northern Oil and Gas makes up about 1.8% of Tributary Capital Management LLC's holdings, making the stock its 17th biggest position. Tributary Capital Management LLC owned approximately 0.86% of Northern Oil and Gas worth $17,985,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Northern Oil and Gas by 5.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,941,662 shares of the company's stock worth $122,563,000 after purchasing an additional 235,869 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Northern Oil and Gas by 9.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,899,017 shares of the company's stock worth $47,096,000 after purchasing an additional 158,713 shares during the period. Channing Capital Management LLC grew its stake in shares of Northern Oil and Gas by 15.7% during the 3rd quarter. Channing Capital Management LLC now owns 1,702,177 shares of the company's stock worth $42,214,000 after purchasing an additional 230,899 shares during the period. Deprince Race & Zollo Inc. acquired a new position in shares of Northern Oil and Gas during the 4th quarter worth $25,492,000. Finally, Barclays PLC grew its stake in shares of Northern Oil and Gas by 43.0% during the 3rd quarter. Barclays PLC now owns 679,524 shares of the company's stock worth $16,852,000 after purchasing an additional 204,358 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NOG shares. Citigroup lowered their price target on shares of Northern Oil and Gas from $39.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Bank of America increased their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Northern Oil and Gas in a research report on Thursday, January 22nd. Royal Bank Of Canada lowered their price target on shares of Northern Oil and Gas from $33.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 20th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of Northern Oil and Gas in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.29.

Northern Oil and Gas Price Performance

NOG stock opened at $24.54 on Friday. The stock's fifty day simple moving average is $27.62 and its 200-day simple moving average is $24.35. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.13. Northern Oil and Gas, Inc. has a 52-week low of $20.18 and a 52-week high of $32.62. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 74.37 and a beta of 0.94.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.12. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. The business had revenue of $610.18 million for the quarter, compared to analysts' expectations of $524.98 million. During the same period last year, the company earned $1.11 earnings per share. The company's quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend is Monday, March 30th. Northern Oil and Gas's payout ratio is 545.45%.

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.

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