As of Wednesday close, Northern Oil and Gas Inc.’s (NYSE:NOG) stock was down -$0.44, moving down -1.09 percent to $40.01. The average number of shares traded per day over the past five days has been 1,453,880 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.40 fall in that time frame. In the last twenty days, the average volume was 1,487,750, while in the previous 50 days, it was 1,451,558.
Since last month, NOG stock rose 10.22%. Shares of the company fell to $34.02 on 07/17/23, the lowest level in the past month. A 52-week high of $42.86 was reached on 08/09/23 after having rallying from a 52-week low of $24.21. Since the beginning of this year, NOG’s stock price has risen by 29.82% or $9.19, and marked a new high 26 times. However, the stock has declined by -6.65% 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 10 days ago on Aug 07. Akradi Bahram, the Director of the company, disposed of 110,291 shares for $41.93 on Aug 07. It resulted in a $4,624,579 divestment by the insider. Allen Chad W sold 4,800 shares at an average price of $40.32 on Aug 03. The insider now owns 49,097 shares following the transaction. On Aug 03, Chief Technical Officer Evans James B. sold 4,000 shares at $40.45 apiece. The transaction was valued at $161,812.
Valuation Metrics
Right now, Northern Oil and Gas Inc. (NOG) has a P/E ratio of about 2.82. The stock’s beta is 1.99. Besides these, the trailing price-to-sales (P/S) ratio of 1.65, the price-to-book (PB) ratio of 2.51.
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 1.00, while its current ratio was 1.00, 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 1.18, and the total debt-to-equity ratio was 1.18. On the profitability front, the trailing twelve-month gross margin is 79.50% percent. In the year ended June 29, EBITDA margin amounted to 77.12%, whereas operating margins totaled 62.20%. 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 124.80%.
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 23.71%, the RSI 9-day stood at 49.22% on 16 August.
With respect to its five-day moving average, the current Northern Oil and Gas Inc. price is down by -5.66% percent or -$2.40. At present, NOG shares trade +11.48% above its 20-day simple moving average and +44.54% percent above its 100-day simple moving average. However, the stock is currently trading approximately +28.77% above its SMA50 and +16.78% above its SMA200.
Stochastic coefficient K was 49.62% and Stochastic coefficient D was 63.69%, while ATR was 1.14. Given the Stochastic reading of 37.50% for the 14-day period, the RSI (14) reading has been calculated as 56.59%. As of today, the MACD Oscillator reading stands at -0.99, while the 14-day reading stands at -0.42.
Analyst Ratings
Northern Oil and Gas Inc. downgraded its rating on Northern Oil and Gas Inc. (NYSE: NOG) to a Neutral in a note to investors on August 14, 2023. The analysts firm previously had an Overweight 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 1 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 9 recommending it as overweight.
With a median target price of $47.00, the current consensus forecast for the stock is $42.00 – $57.00. Based on these forecasts, analysts predict Northern Oil and Gas Inc. (NOG) will achieve an average price target of $47.92.
