Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 29.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NOG. Icon Wealth Advisors LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter worth about $828,000. American Century Companies Inc. grew its holdings in Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company's stock valued at $206,905,000 after purchasing an additional 552,645 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in Northern Oil and Gas by 18.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 453,414 shares of the company's stock worth $16,853,000 after purchasing an additional 70,709 shares during the last quarter. Qsemble Capital Management LP purchased a new position in Northern Oil and Gas during the second quarter worth approximately $625,000. Finally, Mutual of America Capital Management LLC raised its stake in Northern Oil and Gas by 16.3% during the second quarter. Mutual of America Capital Management LLC now owns 443,264 shares of the company's stock worth $16,476,000 after purchasing an additional 62,254 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Down 0.2 %

Shares of NOG stock traded down $0.09 on Friday, hitting $36.04. The stock had a trading volume of 931,736 shares, compared to its average volume of 1,325,027. The stock's 50 day moving average is $39.49 and its 200-day moving average is $38.62. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 4.33 and a beta of 1.85. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $44.31. 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 (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million during the quarter, compared to analysts' expectations of $540.23 million. During the same period in the prior year, the company posted $1.73 EPS. The firm's revenue for the quarter was up 140.0% on a year-over-year basis. As a group, research analysts expect that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.66%. Northern Oil and Gas's dividend payout ratio (DPR) is presently 20.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NOG. Morgan Stanley dropped their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Piper Sandler cut their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, December 17th. Jefferies Financial Group began coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a "buy" rating and a $53.00 price objective on the stock. Royal Bank of Canada lowered shares of Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and raised their price target for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Finally, Truist Financial boosted their price objective on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.20.

Insiders Place Their Bets

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the sale, the insider now owns 105,713 shares in the company, valued at $3,727,440.38. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock worth $248,113 in the last three months. 2.80% of the stock is owned by 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.