In the last trading session, 1,060,479 shares of the Northern Oil and Gas, Inc. (NYSE:NOG) were traded, and its beta was 2.69. Most recently the company’s share price was $12.48, and it changed around $0.2 or 0.02% from the last close, which brings the market valuation of the company to $754.06 Million. NOG currently trades at a discount to its 52-week high of $15.26, offering almost -22.28% off that amount. The share price’s 52-week low was $3.35, which indicates that the current value has risen by an impressive 73.16% since then. We note from Northern Oil and Gas, Inc.’s average daily trading volume that its 10-day average is 702.17 Million shares, with the 3-month average coming to 1.38 Million.
Northern Oil and Gas, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.8. If we narrow it down even further, the data shows that none out of 10 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, no body recommended NOG as a Hold, whereas 9 deemed it a Buy, and no one rated it as Underweight. Northern Oil and Gas, Inc. is expected to report earnings per share of $0.57 for the current quarter.
Northern Oil and Gas, Inc. (NYSE:NOG): Trading Information
Instantly NOG has showed a green trend with a performance of 1.63% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $13.17 on Thursday, Apr 01 increased the stock’s daily price by 5.24%. The company’s shares are currently up 0.42% year-to-date, but still up 0.04 over the last five days. On the other hand, Northern Oil and Gas, Inc. (NYSE:NOG) is -0.16% down in the 30-day period. We can see from the shorts that 3.72 Million shares have been sold at a short interest cover period of 2.7 day (s).
The consensus price target as assigned by Wall Street analysts is $18.4, which translates to bears needing to increase their stock price by 47.44% from its current value. Analyst projections state that NOG is forecast to be at a low of $14 and a high of $25. In order for the stock price to hit the forecast high, the stock would need to surge +100.32% from its current level, while the stock would need to crash 12.18% from its current level to reach the projected low.
Northern Oil and Gas, Inc. (NOG) projections and forecasts
Northern Oil and Gas, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +136.81 percent over the past six months and at a 36.26% annual growth rate that is well above the industry average of 14%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +42.5% in revenue this quarter, and will report an increase of 215% in the next quarter. The year-over-year growth rate is expected to be 21.7%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $134.62 Million in revenue for the current quarter. 7 analysts expect Northern Oil and Gas, Inc. to make $171.96 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarter a year ago was $506.79 Million. Analysts predict that the company’s current quarter sales will drop, forecast at -73.4%. Forecasts for the next quarter put sales growth at -430.9%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 33.1%. Northern Oil and Gas, Inc. earnings are expected to decrease by -978.7% in 2021, but the outlook is positive 5% per year for the next five years.
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Northern Oil and Gas, Inc. (NYSE:NOG)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 23.38% of Northern Oil and Gas, Inc. shares, and 30.52% of them are in the hands of institutional investors. The stock currently has a share float of 39.83%. Northern Oil and Gas, Inc. stock is held by 97 institutions, with Angelo, Gordon & Company, L.P. being the largest institutional investor. By Dec 30, 2020, it held 5.08% of the shares, which is about 3.07 Million shares worth $26.87 Million.
FMR, LLC, with 4.55% or 2.75 Million shares worth $24.07 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Fidelity Series Small Cap Opportunities Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2021. The former held 1793346 shares worth $18.29 Million, making up 2.97% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.07 Million shares worth around $9.38 Million, which represents about 1.77% of the total shares outstanding.