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

Mackenzie Financial Corp decreased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 254,922 shares of the company’s stock after selling 42,700 shares during the quarter. Mackenzie Financial Corp’s holdings in Northern Oil and Gas were worth $9,450,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jump Financial LLC bought a new stake in shares of Northern Oil and Gas in the third quarter worth $4,462,000. Wellington Management Group LLP grew its stake in shares of Northern Oil and Gas by 11.6% in the third quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock worth $16,787,000 after purchasing an additional 43,527 shares during the last quarter. Sei Investments Co. boosted its position in Northern Oil and Gas by 38.6% during the third quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock valued at $16,888,000 after acquiring an additional 116,983 shares during the last quarter. Swiss National Bank boosted its position in Northern Oil and Gas by 10.0% during the third quarter. Swiss National Bank now owns 173,800 shares of the company’s stock valued at $6,992,000 after acquiring an additional 15,800 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Northern Oil and Gas by 44.1% during the third quarter. TD Asset Management Inc now owns 25,800 shares of the company’s stock valued at $1,038,000 after acquiring an additional 7,900 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

NOG stock opened at $42.50 on Friday. 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, Inc. has a 1 year low of $29.57 and a 1 year high of $43.64. The stock has a market capitalization of $4.29 billion, a PE ratio of 4.23 and a beta of 1.86. The company’s 50-day moving average is $38.00 and its 200-day moving average is $37.18.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The business had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. During the same quarter in the prior year, the company earned $1.43 EPS. The company’s revenue was up 21.9% on a year-over-year basis. Equities research 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.77%. Northern Oil and Gas’s dividend payout ratio is presently 15.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOG. Piper Sandler upped 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 research report on Friday. Morgan Stanley upped their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Stifel Nicolaus cut their price target on shares of Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Bank of America cut shares of 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Insider Buying and Selling

In related news, insider James B. Evans sold 3,150 shares of the company’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 sale, the insider now owns 73,753 shares in the company, valued at approximately $3,097,626. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider James B. Evans sold 3,150 shares of the company’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 sale, the insider now owns 73,753 shares in the company, valued at approximately $3,097,626. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the 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 sale, the chief executive officer now owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock worth $436,614 in the last quarter. Insiders own 3.20% of the company’s stock.

Northern Oil and Gas 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.