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

Principal Financial Group Inc. lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 494,508 shares of the company's stock after acquiring an additional 12,711 shares during the period. Principal Financial Group Inc. owned 0.50% of Northern Oil and Gas worth $14,949,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Northern Oil and Gas during the 4th quarter valued at about $29,000. Byrne Asset Management LLC boosted its stake in shares of Northern Oil and Gas by 54.9% in the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock worth $41,000 after buying an additional 483 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Northern Oil and Gas by 127.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after buying an additional 835 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Northern Oil and Gas in the 1st quarter worth about $54,000. Finally, Tower Research Capital LLC TRC raised its holdings in Northern Oil and Gas by 187.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company's stock worth $87,000 after purchasing an additional 1,530 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

Shares of NOG traded down $0.08 during midday trading on Friday, reaching $30.69. 1,283,592 shares of the stock were exchanged, compared to its average volume of 1,604,145. The business's 50-day moving average price is $28.82 and its 200 day moving average price is $30.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 4.78 and a beta of 1.50.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $568.87 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The business's revenue was up 51.9% compared to the same quarter last year. On average, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is currently 28.04%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Bank of America increased their target price on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Mizuho lowered their price objective on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Raymond James Financial restated a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Morgan Stanley lowered their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, Citigroup lifted their target price on Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $38.89.

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.