Principal Financial Group Inc. Sells 197,494 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Principal Financial Group Inc. cut its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 29.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 470,107 shares of the company's stock after selling 197,494 shares during the period. Principal Financial Group Inc. owned about 0.47% of Northern Oil and Gas worth $16,646,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NOG. Amalgamated Bank raised its position in Northern Oil and Gas by 3.9% in the third quarter. Amalgamated Bank now owns 29,290 shares of the company's stock worth $1,037,000 after purchasing an additional 1,108 shares in the last quarter. Emerald Advisers LLC grew its stake in shares of Northern Oil and Gas by 7.9% in the 3rd quarter. Emerald Advisers LLC now owns 611,509 shares of the company's stock valued at $21,654,000 after purchasing an additional 44,510 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Northern Oil and Gas by 64.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 138,464 shares of the company's stock worth $4,903,000 after buying an additional 54,251 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Northern Oil and Gas by 41.4% during the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock worth $33,320,000 after buying an additional 275,704 shares during the period. Finally, New York State Teachers Retirement System lifted its position in shares of Northern Oil and Gas by 3.4% during the 3rd quarter. New York State Teachers Retirement System now owns 45,864 shares of the company's stock worth $1,624,000 after buying an additional 1,526 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com lowered Northern Oil and Gas from a "hold" rating to a "sell" rating in a research note on Thursday, August 1st. Morgan Stanley dropped their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. Piper Sandler reduced their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. Truist Financial upped their price objective on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Mizuho started coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They issued an "outperform" rating and a $47.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Northern Oil and Gas Trading Down 1.0 %

NYSE:NOG traded down $0.40 during trading hours on Friday, hitting $40.50. 730,336 shares of the stock were exchanged, compared to its average volume of 1,321,850. The company has a market capitalization of $4.04 billion, a P/E ratio of 4.86 and a beta of 1.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The company's 50 day moving average is $37.51 and its two-hundred day moving average is $38.51. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm's revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 earnings per share. On average, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Activity

In related news, President Adam A. Dirlam sold 2,508 shares of the company's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Erik J. Romslo sold 1,500 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now owns 105,713 shares in the company, valued at approximately $3,727,440.38. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is currently owned by insiders.

Northern Oil and Gas Company 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.