Northern Oil and Gas Inc. (NYSE:NOG) saw an upside of 1.90% to $42.63 after adding $0.79 on Wednesday. The 5-day average trading volume is 1,782,865 shares of the company’s common stock. It has gained $42.86 in the past week and touched a new high 4 times within the past 5 days. An average of 1,364,936 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,417,308.
NOG’s 1-month performance is 21.29% or $8.18 on its low of $34.02 reached on 07/17/23. The company’s shares have touched a 52-week low of $24.21 and high of $42.71, with the stock’s rally to the 52-week high happening on 08/09/23. YTD, NOG has achieved 38.34% or $11.74 and has reached a new high 26 times. However, the current price is down -0.18% from the 52-week high price.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
NOG stock investors last saw insider trading activity on Aug 03.Allen Chad W (CFO) most recently sold 4,800 shares at $40.32 per share on Aug 03. This transaction cost the insider $193,549. Chief Technical Officer, Evans James B., sold 4,000 shares at a price of $40.45 on Aug 03. Then, on Jul 31, Chief Technical Officer Evans James B. sold 1,000 shares at a price of $40.00 per share. This transaction amounted to $40,003.
Valuation Metrics
NOG stock has a beta of 1.99. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.79 while the price-to-book (PB) in the most recent quarter is 2.67.
Northern Oil and Gas Inc.’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.18, while the total debt to equity was 1.18. In terms of profitability, the gross margin trailing 12 months is 79.70%. The firm’s gross profit as reported stood at $1.15 billion against revenue of $1.57 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -41.87% to $167.82 million, while revenue of $340.19 million was -102.71% off the previous quarter. Analysts expected NOG to announce $1.35 per share in earnings in its latest quarter, but it posted $1.49, representing a 10.40% surprise. EBITDA for the quarter stood at more than $342.73 million. NOG stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.25 billion, with total debt at $1.67 billion. Shareholders hold equity totaling $93.02 million.
Let’s look briefly at Northern Oil and Gas Inc. (NOG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 84.55% to suggest the stock is trending Overbought, with historical volatility in this time period at 28.87%.
The stock’s 5-day moving average is $42.02, reflecting a +8.09% or $3.18 change from its current price. NOG is currently trading +18.83% above its 20-day SMA, +58.00% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +37.35% and SMA200 by+25.23%.
Stochastic %K and %D was 90.12% and 91.34% and the average true range (ATR) pointed at 1.17. The RSI (14) points at 80.74%, while the 14-day stochastic is at 95.54% with the period’s ATR at 1.13. The stock’s 9-day MACD Oscillator is pointing at 1.21 and 2.33 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Northern Oil and Gas Inc. (NYSE: NOG), BofA Securities upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for NOG stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate NOG as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 11 have offered a “buy” rating.
What is NOG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $42.00 and a high of $56.00, with their median price target at $46.00. Looking at these predictions, the average price target given by analysts is for Northern Oil and Gas Inc. (NOG) stock is $47.31.
