Northern Oil and Gas (NOG) closed the most recent trading day at $10.45, moving +0.97% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.36%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq gained 0.69%.
Coming into today, shares of the independent oil and gas company had gained 15.51% in the past month. In that same time, the Oils-Energy sector gained 9.81%, while the S&P 500 gained 4.27%.
Investors will be hoping for strength from NOG as it approaches its next earnings release. On that day, NOG is projected to report earnings of $0.63 per share, which would represent year-over-year growth of 26%. Meanwhile, our latest consensus estimate is calling for revenue of $115.21 million, down 28.31% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for NOG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.28% higher. NOG is currently a Zacks Rank #3 (Hold).
Digging into valuation, NOG currently has a Forward P/E ratio of 4.72. This represents a discount compared to its industry's average Forward P/E of 12.48.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 132, which puts it in the bottom 49% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Northern Oil and Gas, Inc. (NOG) : Free Stock Analysis Report
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