Principal Financial Group Inc. Grows Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Principal Financial Group Inc. lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 481,797 shares of the company’s stock after acquiring an additional 11,690 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Northern Oil and Gas worth $17,904,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in NOG. Legacy Investment Solutions LLC bought a new position in Northern Oil and Gas during the 3rd quarter worth approximately $25,000. Signaturefd LLC lifted its position in Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares during the period. Avior Wealth Management LLC grew its stake in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after purchasing an additional 259 shares in the last quarter. Finally, Covestor Ltd increased its stake in Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock valued at $67,000 after buying an additional 1,048 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on NOG. Morgan Stanley set a $43.00 price target on shares of Northern Oil and Gas in a report on Wednesday, January 22nd. Royal Bank of Canada decreased their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Truist Financial boosted their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler cut their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Finally, Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and an average target price of $47.44.

Northern Oil and Gas Trading Up 0.9 %

Northern Oil and Gas stock opened at $33.30 on Tuesday. Northern Oil and Gas, Inc. has a one year low of $32.81 and a one year high of $44.31. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 6.48 and a beta of 1.81. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The firm has a 50-day moving average of $37.47 and a 200-day moving average of $38.29.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). The company had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. On average, equities analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 5.41%. Northern Oil and Gas’s dividend payout ratio (DPR) is 32.68%.

Insider Activity at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.