Principal Financial Group Inc. Has $14.95 Million Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Principal Financial Group Inc. increased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 494,508 shares of the company's stock after buying an additional 12,711 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of Northern Oil and Gas worth $14,949,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. grew its stake in Northern Oil and Gas by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock worth $487,000 after buying an additional 298 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Northern Oil and Gas by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company's stock worth $386,000 after purchasing an additional 329 shares in the last quarter. Van Den Berg Management I Inc. grew its stake in shares of Northern Oil and Gas by 1.2% in the fourth quarter. Van Den Berg Management I Inc. now owns 36,895 shares of the company's stock worth $1,371,000 after purchasing an additional 446 shares in the last quarter. Byrne Asset Management LLC boosted its stake in Northern Oil and Gas by 54.9% during the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after buying an additional 483 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Northern Oil and Gas by 26.7% during the first quarter. Fifth Third Bancorp now owns 2,480 shares of the company's stock valued at $75,000 after buying an additional 523 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOG has been the subject of several analyst reports. Royal Bank Of Canada reduced their target price on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Monday. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Mizuho lowered their price objective on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Citigroup increased their price objective on Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Piper Sandler lowered their price objective on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Northern Oil and Gas has an average rating of "Hold" and a consensus price target of $38.78.

Northern Oil and Gas Stock Performance

Shares of NOG stock traded down $1.36 during mid-day trading on Tuesday, reaching $28.02. The stock had a trading volume of 1,461,530 shares, compared to its average volume of 1,605,175. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. The firm has a market cap of $2.77 billion, a PE ratio of 4.36 and a beta of 1.50. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The firm's 50 day simple moving average is $28.92 and its 200 day simple moving average is $30.63.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The business had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. During the same quarter last year, the company earned $1.28 EPS. Northern Oil and Gas's revenue was up 51.9% on a year-over-year basis. On average, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 6.42%. Northern Oil and Gas's payout ratio is 28.04%.

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.