For this quarter, Wall Street analysts forecast Northern Oil and Gas, Inc. (NOG) revenue in a range of $147 million to $178.23 million, which should be compared with $0 generated last year. EPS is seen in a range of $0.11 to $0.17, against the $0.03 reported a year ago.The shares have dropped -21.8% since the company’s last earnings report. Over the past 12 fiscal quarters, Northern Oil and Gas, Inc. (NYSE:NOG) has topped consensus earnings estimates in 9 quarters (75%), missed earnings in 1 quarters (8%), whereas at 2 occasion EPS met analyst expectations. NOG last reported earnings on November 08, 2018 when it released Sep-18 results that receded expectations. The company raked in $0.11 per share, -98.4% change on the same period last year. That was worse than consensus for $0.12. Revenue for the recent quarter stood at $102.27 million, up 88% on last year and below the $124.78 million predicted by analysts.
NOG’s 50 day simple moving average (SMA 50) price is $2.45 and its 200-day simple moving average (SMA 200) price is $2.92. The company’s stock currently has a total float of 200.59M shares. Its weekly volatility is hovering around 5.31% and felt 5.94% volatility in price over a month. On the upside, the share price will test short term resistance at around $2.48. On a downside, the stock is likely to find some support, which begins at $2.33. The failure to get near-term support could push it to $2.24.
Separately, it has been reported that multiple insider activity took place at Northern Oil and Gas, Inc. (NOG). 10% Owner Crestview Partners Iii Gp, L.P sold 769,700 shares for $39,883,263 in transaction occurred on 2019/02/12. After making this transaction, the 10% Owner owns a direct stake of 1,739,522 shares, worth $96,517,496, as per the last closing price. On 2019/02/07 Crestview Partners Iii Gp, L.P, 10% Owner at NOG, dumped 723,792 shares at an average price of $2.32 per share. The selling total is valued at $98,380,170.
10% Owner, Crestview Partners Iii Gp, L.P had divested 730,825 shares for $41,376,755 through a trade on 2019/02/04. Following this activity, the insider holds 1,848,987 shares worth $100,000,000 as of recent close. Wall Street’s most bullish Northern Oil and Gas, Inc. (NYSE:NOG) analysts are predicting the share price to blow past $5 per share during the next 12 months. The current median share price forecast by them is $4, suggesting that the stock could increase 65.29% in that time frame. The average price target of $4.06 calls for a nearly 67.77% increase in the stock price.
It had seen a change in price target from analysts at Imperial Capital, who reiterated the stock at In-line on January 23 but moved PT from $4 to $3. Analysts at CapitalOne, shed their negative views on July 31 by lifting it fromEqual Weight to Overweight. Analysts at Northland Capital, made their first call about the stock on May 30, recommending it is Outperform. SunTrust analysts came out with bullish views on May 24 when the call was made. They think the stock is now Buy compared to to their prior call for Hold.
Moreover, it trades for 4.05 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 60.5x price/book and 3.47x price/sales. Compared to others, Northern Oil and Gas, Inc. is in a different league with regards to profitability, having net margins of -36.1%. To put some perspective around this, the industry’s average net margin is -0.64%. NOG’s ROE is 35.3%, which is also considerably better than the industry’s ROE of -0.29%. It’s also very liquid in the near term, with a current ratio of 1. The stock has a debt/capital of 0.
Northern Oil and Gas, Inc. (NYSE:NOG) shares went up 3.86% in Wednesday’s session, putting the price tag at $2.42 plus $946.24M in market capitalization. Earlier in the session, the stock traded between $2.3 and $2.45. Trading activity significantly weakened as the volume at ready counter decreased to 4,033,286 shares versus 4,584,105 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 4,483,507 shares. The stock is now 64.63% above against its bear-market low of $1.47 on April 06, 2018. It has retreated -85.54% since it’s 52-week high of $4.49 reached in October. Now the market price is up 32.97% on the year and up 7.08% YTD.