Principal Financial Group Inc. Has $16.65 Million Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Principal Financial Group Inc. cut its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) 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.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Northern Oil and Gas by 45.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after purchasing an additional 789,985 shares during the last quarter. American Century Companies Inc. increased its position in Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after acquiring an additional 552,645 shares in the last quarter. abrdn plc bought a new position in shares of Northern Oil and Gas in the third quarter worth about $17,096,000. New York State Common Retirement Fund lifted its position in shares of Northern Oil and Gas by 41.4% during the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock worth $33,320,000 after purchasing an additional 275,704 shares in the last quarter. Finally, Hood River Capital Management LLC grew its stake in shares of Northern Oil and Gas by 14.4% during the second quarter. Hood River Capital Management LLC now owns 955,579 shares of the company’s stock valued at $35,519,000 after purchasing an additional 120,356 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now directly owns 107,876 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, insider Erik J. Romslo sold 1,500 shares of the firm’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 completion of the transaction, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This trade represents a 1.40 % decrease in their ownership of the stock. 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 owned by corporate insiders.

Analyst Ratings Changes

NOG has been the subject of several research reports. 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 target price for the company. Mizuho began coverage on Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective for the company. Morgan Stanley reduced their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Piper Sandler dropped their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.50.

Northern Oil and Gas Stock Down 1.0 %

Shares of NYSE:NOG opened at $40.49 on Friday. The business has a fifty day simple moving average of $37.40 and a 200 day simple moving average of $38.53. Northern Oil and Gas, Inc. has a 12-month low of $31.13 and a 12-month high of $43.80. The firm has a market cap 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.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business’s quarterly revenue 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. Analysts predict that Northern Oil and Gas, Inc. will post 5.38 earnings per share for the current year.

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.