Northern Oil and Gas Inc. (NOG) – Don’t Believe the Hype: Check The Facts

Northern Oil and Gas Inc. (NYSE: NOG) is -12.41% lower on its value in year-to-date trading and has touched a low of $25.56 and a high of $43.64 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NOG stock was last observed hovering at around $32.13 in the last trading session, with the day’s gains setting it 0.34%.

Currently trading at $32.47, the stock is -4.33% and -9.11% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.84 million and changing 1.06% at the moment leaves the stock -11.09% off its SMA200. NOG registered -2.84% loss for a year compared to 6-month loss of -23.44%. The firm has a 50-day simple moving average (SMA 50) of $2.94 and a 200-day simple moving average (SMA200) of $4.30.

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The stock witnessed a -8.89% gain in the last 1 month and extending the period to 3 months gives it a -10.89%, and is -2.11% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.36% over the week and 2.47% over the month.

Northern Oil and Gas Inc. (NOG) has around 33 employees, a market worth around $3.26B and $1.82B in sales. Current P/E ratio is 4.18 and Fwd P/E is 4.96. Profit margin for the company is 36.70%. Distance from 52-week low is 27.03% and -25.59% from its 52-week high. The company has generated returns on investments over the last 12 months (19.26%).

Northern Oil and Gas Inc. quarterly earnings per share for the current quarter are estimated at $1.66 with sales reaching $563.76M over the same period.The EPS is expected to grow by 4.95% this year, but quarterly earnings will post 22.90% year-over-year. Quarterly sales are estimated to grow 52.20% in year-over-year returns.

427 institutions hold shares in Northern Oil and Gas Inc. (NOG), with institutional investors hold 103.95% of the company’s shares. The shares outstanding are 100.51M, and float is at 93.17M with Short Float at 9.89%. Institutions hold 96.32% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 11.96 million shares valued at $410.6 million. The investor’s holdings represent 12.86% of the NOG Shares outstanding. As of Jun 29, 2023, the second largest holder is FMR, LLC with 7.15 million shares valued at $245.48 million to account for 7.69% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 6.12 million shares representing 6.58% and valued at over $210.18 million, while State Street Corporation holds 4.75% of the shares totaling 4.42 million with a market value of $151.8 million.

Northern Oil and Gas Inc. (NOG) Insider Activity

A total of 20 insider transactions have happened at Northern Oil and Gas Inc. (NOG) in the last six months, with sales accounting for 12 and purchases happening 8 times. The most recent transaction is an insider sale by O’GRADY NICHOLAS L., the company’s CEO. SEC filings show that O’GRADY NICHOLAS L. sold 3,750 shares of the company’s common stock on Jan 09 at a price of $35.63 per share for a total of $0.13 million. Following the sale, the insider now owns 0.22 million shares.

Northern Oil and Gas Inc. disclosed in a document filed with the SEC on Jan 02 that Evans James B. (Chief Technical Officer) sold a total of 315 shares of the company’s common stock. The trade occurred on Jan 02 and was made at $37.44 per share for $11794.0. Following the transaction, the insider now directly holds 78246.0 shares of the NOG stock.

Still, SEC filings show that on Dec 01, Dirlam Adam A. (President) disposed off 1,392 shares at an average price of $37.62 for $52374.0. The insider now directly holds 58,180 shares of Northern Oil and Gas Inc. (NOG).

Northern Oil and Gas Inc. (NOG): Who are the competitors?

One of the company’s main competitors (and peers) include Civitas Resources Inc. (CIVI) that is trading -6.98% down over the past 12 months.