At the last check on Monday, Northern Oil and Gas Inc.’s (NYSE:NOG) stock was up $0.67, moving up 1.61 percent to $42.26. The average number of shares traded per day over the past five days has been 1,676,060 shares. 3 times new highs have been achieved over the past 5 days, with a $2.69 gain in that time frame. In the last twenty days, the average volume was 1,364,875, while in the previous 50 days, it was 1,428,442.
Since last month, NOG stock rose 25.85%. Shares of the company fell to $33.02 on 07/06/23, the lowest level in the past month. A 52-week high of $42.17 was reached on 08/04/23 after having rallying from a 52-week low of $24.21. Since the beginning of this year, NOG’s stock price has risen by 37.12% or $11.44, and marked a new high 24 times. However, the stock has increased by 0.22% since its 52-week high.
NOG stock investors should be aware that Northern Oil and Gas Inc. (NOG) stock had its last reported insider trading activity 2 days ago on Aug 03. Allen Chad W, the CFO of the company, disposed of 4,800 shares for $40.32 on Aug 03. It resulted in a $193,549 divestment by the insider. Evans James B. sold 4,000 shares at an average price of $40.45 on Aug 03. The insider now owns 39,987 shares following the transaction. On Jul 31, Chief Technical Officer Evans James B. sold 1,000 shares at $40.00 apiece. The transaction was valued at $40,003.
Valuation Metrics
Right now, Northern Oil and Gas Inc. (NOG) has a P/E ratio of about 2.81. The stock’s beta is 1.99. Besides these, the trailing price-to-sales (P/S) ratio of 1.75, the price-to-book (PB) ratio of 3.42.
The latest dividend of $0.38 per share was paid out, which is 2.7% more than last year’s $0.37. On Tuesday August 1 2023, a $0.01 dividend increase was announced.
Financial Health
In the three months ended June 29, Northern Oil and Gas Inc.’s quick ratio stood at 1.10, while its current ratio was 1.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.68, and the total debt-to-equity ratio was 1.68. On the profitability front, the trailing twelve-month gross margin is 79.70% percent. In the year ended June 29, EBITDA margin amounted to 77.12%, whereas operating margins totaled 64.60%. Based on annual data, NOG earned $1.15 billion in gross profit and brought in $1.57 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 37.60%. Return on equity (ROE) for the past 12 months was 194.70%.
In Northern Oil and Gas Inc.’s quarter-end financial report for June 29, it reported total debt of $1.67 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. NOG’s revenue rose 7.37% to $582.21 million during the quarter, while net income inched up to $476.55 million. While analysts expected Northern Oil and Gas Inc. to report $1.35 quarterly earnings, the actual figure was $1.49 per share, beating the consensus estimate by 10.40%. During the quarter, the company generated $342.73 million in EBITDA. The liabilities of Northern Oil and Gas Inc. were 2.25 billion at the end of its most recent quarter ended June 29, and its total debt was $1.67 billion. The value of shareholders’ equity is $93.02 million.
Technical Picture
This quick technical analysis looks at Northern Oil and Gas Inc.’s (NOG) price momentum. With a historical volatility rate of 26.00%, the RSI 9-day stood at 88.95% on 04 August.
With respect to its five-day moving average, the current Northern Oil and Gas Inc. price is up by +6.80% percent or $2.69. At present, NOG shares trade +22.92% above its 20-day simple moving average and +45.12% percent above its 100-day simple moving average. However, the stock is currently trading approximately +33.78% above its SMA50 and +26.95% above its SMA200.
Stochastic coefficient K was 93.23% and Stochastic coefficient D was 90.61%, while ATR was 1.17. Given the Stochastic reading of 98.10% for the 14-day period, the RSI (14) reading has been calculated as 83.13%. As of today, the MACD Oscillator reading stands at 1.45, while the 14-day reading stands at 2.58.
Analyst Ratings
BofA Securities upgraded its rating on Northern Oil and Gas Inc. (NYSE: NOG) to a Buy in a note to investors on January 06, 2023. The analysts firm previously had a Neutral rating on the stock.Northern Oil and Gas Inc. (NOG) has been rated Buy by analysts. According to 0 brokerage firms, NOG is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Northern Oil and Gas Inc. stock as buy, with 11 recommending it as overweight.
With a median target price of $45.00, the current consensus forecast for the stock is $41.00 – $56.00. Based on these forecasts, analysts predict Northern Oil and Gas Inc. (NOG) will achieve an average price target of $46.54.
