Mackenzie Financial Corp Sells 42,700 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Mackenzie Financial Corp trimmed its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 14.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 254,922 shares of the company’s stock after selling 42,700 shares during the period. Mackenzie Financial Corp owned about 0.25% of Northern Oil and Gas worth $9,450,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Northern Oil and Gas by 137.7% in the 1st quarter. BlackRock Inc. now owns 10,915,028 shares of the company’s stock worth $331,271,000 after purchasing an additional 6,322,462 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Northern Oil and Gas by 26.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,759,894 shares of the company’s stock worth $312,181,000 after purchasing an additional 1,635,739 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Northern Oil and Gas by 1,356.2% in the 2nd quarter. Alliancebernstein L.P. now owns 979,729 shares of the company’s stock worth $33,624,000 after purchasing an additional 912,449 shares during the last quarter. State Street Corp boosted its position in shares of Northern Oil and Gas by 29.0% in the 1st quarter. State Street Corp now owns 3,301,013 shares of the company’s stock worth $93,518,000 after purchasing an additional 742,371 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Northern Oil and Gas by 19.0% in the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after purchasing an additional 605,197 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Insider Activity at Northern Oil and Gas

In related news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the sale, the insider now owns 73,753 shares of the company’s stock, valued at $3,097,626. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the sale, the insider now owns 73,753 shares of the company’s stock, valued at $3,097,626. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the completion of the sale, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,944 shares of company stock valued at $436,614. 3.20% of the stock is owned by insiders.

Northern Oil and Gas Stock Performance

NOG opened at $42.50 on Friday. The business’s 50-day moving average price is $38.00 and its two-hundred day moving average price is $37.18. Northern Oil and Gas, Inc. has a 1 year low of $29.57 and a 1 year high of $43.64. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 4.23 and a beta of 1.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.32.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The firm had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. During the same period in the prior year, the business earned $1.43 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities analysts expect that Northern Oil and Gas, Inc. will post 5.43 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio is currently 15.94%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NOG shares. Bank of America lowered Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price target on the stock. in a research report on Friday, January 5th. Jefferies Financial Group raised their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Piper Sandler raised their price objective on Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial dropped their price objective on Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Finally, Citigroup dropped their price objective on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

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.