Northern Oil and Gas Inc. (NYSE:NOG) saw an upside of 3.66% to $41.32 after adding $1.46 on Wednesday. The 5-day average trading volume is 874,179 shares of the company’s common stock. It has gained $41.53 in the past week and touched a new high 5 times within the past 5 days. An average of 1,334,010 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,336,306.
NOG’s 1-month performance is 0.93% or $0.78 on its low of $38.58 reached on 09/21/23. The company’s shares have touched a 52-week low of $24.56 and high of $43.64, with the stock’s rally to the 52-week high happening on 09/05/23. YTD, NOG has achieved 34.07% or $10.56 and has reached a new high 28 times. However, the current price is down -5.31% from the 52-week high price.
Insider Transactions
NOG stock investors last saw insider trading activity on Sep 18.Dirlam Adam A. (President) most recently sold 1,392 shares at $40.50 per share on Sep 18. This transaction cost the insider $56,376. President, Dirlam Adam A., sold 204 shares at a price of $40.50 on Sep 18. Then, on Aug 25, Chief Legal Officer & Sec. Romslo Erik J. sold 7,500 shares at a price of $40.73 per share. This transaction amounted to $305,494.
Valuation Metrics
NOG stock has a beta of 1.98. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.09 while the price-to-book (PB) in the most recent quarter is 2.71.
Northern Oil and Gas Inc.’s quick ratio for the period ended June 29 was 1.02, with the current ratio over the same period at 1.02. 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 56.50%. The trailing 12-month EBITDA margin is 77.12% while for the period ending June 29, Northern Oil and Gas Inc.’s operating margin was 54.02%. 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 26 September was 59.40% to suggest the stock is trending Neutral, with historical volatility in this time period at 29.25%.
The stock’s 5-day moving average is $39.72, reflecting a +5.63% or $2.21 change from its current price. NOG is currently trading +0.77% above its 20-day SMA, +33.77% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +13.98% and SMA200 by+31.60%.
Stochastic %K and %D was 34.97% and 21.51% and the average true range (ATR) pointed at 1.12. The RSI (14) points at 56.05%, while the 14-day stochastic is at 56.12% with the period’s ATR at 1.10. The stock’s 9-day MACD Oscillator is pointing at 0.50 and -0.14 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Northern Oil and Gas Inc. (NYSE: NOG), Piper Sandler downgraded it to a Neutral rating. They previously had an Overweight 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 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 10 have offered a “buy” rating.
