In the last trading session, 1.08 million shares of the Northern Oil and Gas Inc. (AMEX:NOG) were traded, and its beta was 2.46. Most recently the company’s share price was $26.00, and it changed around $1.38 or 5.61% from the last close, which brings the market valuation of the company to $1.63B. NOG currently trades at a discount to its 52-week high of $25.23, offering almost 2.96% off that amount. The share price’s 52-week low was $3.35, which indicates that the current value has risen by an impressive 87.12% since then. We note from Northern Oil and Gas Inc.’s average daily trading volume that its 10-day average is 1.28 million shares, with the 3-month average coming to 763.21K.
Northern Oil and Gas Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended NOG as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. Northern Oil and Gas Inc. is expected to report earnings per share of $0.86 for the current quarter.
Northern Oil and Gas Inc. (AMEX:NOG) trade information
Instantly NOG has showed a green trend with a performance of 5.61% 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 26.02 on Friday, 10/08/21 increased the stock’s daily price by 0.08%. The company’s shares are currently up 196.80% year-to-date, but still up 16.23% over the last five days. On the other hand, Northern Oil and Gas Inc. (AMEX:NOG) is 50.64% up in the 30-day period. We can see from the shorts that 4.91 million shares have been sold at a short interest cover period of 3.51 day(s).
The consensus price target as assigned by Wall Street analysts is $29.58, which translates to bulls needing to increase their stock price by 12.1% from its current value. Analyst projections state that NOG is forecast to be at a low of $22.00 and a high of $38.00. In order for the stock price to hit the forecast high, the stock would need to plunge -46.15% from its current level, while the stock would need to crash 15.38% from its current level to reach the projected low.
Northern Oil and Gas Inc. (NOG) estimates 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 118.86 percent over the past six months and at a 83.52% annual growth rate that is well above the industry average of 10.30%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 68.60% in revenue this quarter, and will report an increase of 46.90% in the next quarter. The year-over-year growth rate is expected to be 35.20%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $195.91 million in revenue for the current quarter. 8 analysts expect Northern Oil and Gas Inc. to make $209.99 million in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $47.32 million and $50.07 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 314.00%. Forecasts for the next quarter put sales growth at 319.40%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 33.10%. Northern Oil and Gas Inc. earnings are expected to increase by -978.70% in 2021, but the outlook is positive 30.50% per year for the next five years.
Northern Oil and Gas Inc.’s next quarterly earnings report is expected to be released around November 04 and November 08. The annual dividend yield of the stock is 0.46 percent and its annual dividend per share was 0.12. It is important to note, however, that the 0.46% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Northern Oil and Gas Inc. (AMEX:NOG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 19.71% of Northern Oil and Gas Inc. shares, and 56.99% of them are in the hands of institutional investors. The stock currently has a share float of 70.98%. Northern Oil and Gas Inc. stock is held by 143 institutions, with Capital World Investors being the largest institutional investor. By Mar 30, 2021, it held 7.28% of the shares, which is about 4.39 million shares worth $53.09 million.
Angelo, Gordon & Company, L.P., with 5.08% or 3.07 million shares worth $37.06 million as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
Smallcap World Fund and Fidelity Series Small Cap Opportunities Fund were the top two Mutual Funds as of Mar 30, 2021. The former held 4.39 million shares worth $53.09 million, making up 7.28% of all outstanding shares. On the other hand, Fidelity Series Small Cap Opportunities Fund held roughly 1.79 million shares worth around $25.97 million, which represents about 2.97% of the total shares outstanding.