Mackenzie Financial Corp Cuts Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Mackenzie Financial Corp lowered its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new position in shares of Northern Oil and Gas during the 3rd quarter worth about $4,462,000. Wellington Management Group LLP lifted its stake in Northern Oil and Gas by 11.6% in the 3rd quarter. Wellington Management Group LLP now owns 417,265 shares of the company's stock valued at $16,787,000 after purchasing an additional 43,527 shares during the last quarter. Sei Investments Co. lifted its stake in Northern Oil and Gas by 38.6% in the 3rd quarter. Sei Investments Co. now owns 419,762 shares of the company's stock valued at $16,888,000 after purchasing an additional 116,983 shares during the last quarter. Swiss National Bank lifted its stake in Northern Oil and Gas by 10.0% in the 3rd quarter. Swiss National Bank now owns 173,800 shares of the company's stock valued at $6,992,000 after purchasing an additional 15,800 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Northern Oil and Gas by 44.1% in the 3rd quarter. TD Asset Management Inc now owns 25,800 shares of the company's stock valued at $1,038,000 after purchasing an additional 7,900 shares during the last quarter. Institutional investors own 98.80% of the company's stock.

Analysts Set New Price Targets

NOG has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the company a "neutral" rating in a report on Friday. Bank of America lowered shares of Northern Oil and Gas from a "buy" rating to an "underperform" rating and set a $39.00 target price on the stock. in a research report on Friday, January 5th. Raymond James cut their price target on shares of Northern Oil and Gas from $51.00 to $45.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Citigroup dropped their target price on shares of Northern Oil and Gas from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, February 28th. Finally, Stifel Nicolaus dropped their target price on shares of Northern Oil and Gas from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.00.

Northern Oil and Gas Stock Up 1.1 %

NOG traded up $0.45 during midday trading on Friday, hitting $42.50. The company had a trading volume of 1,413,551 shares, compared to its average volume of 1,280,646. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. The stock's 50 day moving average price is $38.00 and its 200 day moving average price is $37.17. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 4.23 and a beta of 1.86. Northern Oil and Gas, Inc. has a 52 week low of $29.57 and a 52 week high of $43.64.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.03). The business had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The company's revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 earnings per share. On average, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.43 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.76%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 15.94%.

Insider Buying and Selling

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

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.