Northern Oil and Gas Inc. (NYSE: NOG)’s stock price has soared by 0.92 in relation to previous closing price of 40.40. Nevertheless, the company has seen a gain of 2.00% in its stock price over the last five trading days. Zacks Investment Research reported 2024-05-01 that Northern (NOG) expects to spend in the range of $240-$260 million in the second quarter. The total budget for 2024 is projected to be between $825 million and $900 million.
Is It Worth Investing in Northern Oil and Gas Inc. (NYSE: NOG) Right Now?
The price-to-earnings ratio for Northern Oil and Gas Inc. (NYSE: NOG) is above average at 6.61x. The 36-month beta value for NOG is also noteworthy at 1.78. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 5 rating it as “hold,” and 1 rating it as “sell.”
The public float for NOG is 93.70M, and at present, short sellers hold a 10.89% of that float. The average trading volume of NOG on May 10, 2024 was 1.30M shares.
NOG’s Market Performance
NOG’s stock has seen a 2.00% increase for the week, with a -4.14% drop in the past month and a 25.56% gain in the past quarter. The volatility ratio for the week is 1.75%, and the volatility levels for the past 30 days are at 2.48% for Northern Oil and Gas Inc. The simple moving average for the last 20 days is -2.74% for NOG’s stock, with a simple moving average of 6.35% for the last 200 days.
Analysts’ Opinion of NOG
Many brokerage firms have already submitted their reports for NOG stocks, with Morgan Stanley repeating the rating for NOG by listing it as a “Equal-Weight.” The predicted price for NOG in the upcoming period, according to Morgan Stanley is $40 based on the research report published on January 05, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see NOG reach a price target of $39. The rating they have provided for NOG stocks is “Underperform” according to the report published on January 05th, 2024.
NOG Trading at 2.31% from the 50-Day Moving Average
After a stumble in the market that brought NOG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.81% of loss for the given period.
Volatility was left at 2.48%, however, over the last 30 days, the volatility rate increased by 1.75%, as shares sank -4.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.29% upper at present.
During the last 5 trading sessions, NOG rose by +2.00%, which changed the moving average for the period of 200-days by +6.87% in comparison to the 20-day moving average, which settled at $41.83. In addition, Northern Oil and Gas Inc. saw 9.98% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NOG starting from Dirlam Adam A., who sale 1,392 shares at the price of $40.99 back on May 01 ’24. After this action, Dirlam Adam A. now owns 110,412 shares of Northern Oil and Gas Inc., valued at $57,058 using the latest closing price.
Dirlam Adam A., the President of Northern Oil and Gas Inc., sale 204 shares at $40.99 during a trade that took place back on May 01 ’24, which means that Dirlam Adam A. is holding 18,135 shares at $8,362 based on the most recent closing price.
Stock Fundamentals for NOG
Current profitability levels for the company are sitting at:
- 0.3 for the present operating margin
- 0.29 for the gross margin
The net margin for Northern Oil and Gas Inc. stands at 0.38. The total capital return value is set at 0.11. Equity return is now at value 38.98, with 14.90 for asset returns.
Based on Northern Oil and Gas Inc. (NOG), the company’s capital structure generated 0.49 points at debt to capital in total, while cash flow to debt ratio is standing at 0.67. The debt to equity ratio resting at 0.97. The interest coverage ratio of the stock is 6.79.
Currently, EBITDA for the company is 1.36 billion with net debt to EBITDA at 2.39. When we switch over and look at the enterprise to sales, we see a ratio of 3.82. The receivables turnover for the company is 4.72for trailing twelve months and the total asset turnover is 0.34. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.96.
Conclusion
In summary, Northern Oil and Gas Inc. (NOG) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
