Northern Oil and Gas Inc. (AMEX: NOG) Is Getting Increasingly Hard To Ignore


    Fidelity Management & Research Co.. recently announced the acquisition of new stake in Northern Oil and Gas Inc. (AMEX:NOG). The institutional investor has increased its shareholding in the Energy company by 65.59% to 29.21 million shares with purchase of 11.57 million shares. This fresh investment now brings its stake to 6.70% valued currently at $23.43 million. In addition, FIAM LLC raised its holdings by 9.0 million to 16.32 million shares. And Weiss Multi-Strategy Advisers LLC has lifted its position by 315.84% or 6.23 million shares – to 8.21 million shares.

    With over 3.32 million Northern Oil and Gas Inc. (NOG) shares trading Friday and a closing price of $0.72 on the day, the dollar volume was approximately $2.39 million. The shares have shown a positive weekly performance of 4.74% and its price on 08/28/20 gained nearly 1.49%. Currently, there are 415.36M common shares owned by the public and among those 285.66M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for NOG have a consensus price objective of $1.56. The analysts have set the share’s price value over the next 12 months at a high of $2.00 and a low of $1.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Northern Oil and Gas Inc. stock is 1.90 for the next 12 months. But an upside of 64.0% will see the stock hit the forecast high price target while mean target price for the stock is $1.50.

    Insiders at the company have transacted a total of 74 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 50 of these insider trades were purchases, accounting for 19,167,216 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 2,093,716 shares.

    The top 3 mutual fund holders in Northern Oil and Gas Inc. are Fidelity Series Small Cap Opportu, Fidelity Strategic Advisers US To, and Vanguard Total Stock Market Index. Fidelity Series Small Cap Opportu owns 10.03 million shares of the company’s stock, all valued at over $8.04 million. Vanguard Total Stock Market Index now owns shares totaling to 1.85% of the shares outstanding.

    Shares of Northern Oil and Gas Inc. (AMEX: NOG) opened at $0.72, up $0.01 from a prior closing price of $0.71. However, the script later closed the day at $0.72, up 1.49%. The company’s stock has a 5-day price change of 4.74% and -3.99% over the past three months. NOG shares are trading -69.23% year to date (YTD), with the 12-month market performance down to -62.88% lower. It has a 12-month low price of $0.50 and touched a high of $2.43 over the same period. Currently, 3.32 million shares have been traded, compared to an average intraday trading volume of 6.86 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.12%, -10.81%, and -41.07% respectively.

    Institutional ownership of Northern Oil and Gas Inc. (AMEX: NOG) shares accounts for 47.80% of the company’s 415.36M shares outstanding. Mutual fund holders own 25.60%, while other institutional holders and individual stakeholders account for 50.09% and 15.85% respectively.

    It has a market capitalization of $309.74M and a beta (3y monthly) value of 2.30. The earnings-per-share (ttm) stands at -$1.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.51% over the week and 5.81% over the month.

    Analysts forecast that Northern Oil and Gas Inc. (NOG) will achieve an EPS of $0.04 for the current quarter, $0.04 for the next quarter and $0.16 for 2021. The lowest estimate earnings-per-share for the quarter is $0.03 while analysts give the company a high EPS estimate of $0.06. Comparatively, EPS for the current quarter was $0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -132.50%, and -2.42% over the next financial year. EPS should grow at an annualized rate of 5.00% over the next five years, compared to -15.70% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Northern Oil and Gas Inc. (NOG) as a “Strong Buy” at a consensus score of 1.90. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the NOG, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on August 27, 2020, with the firm’s price target at $1.80. Seaport Global Securities coverage for the Northern Oil and Gas Inc. (NOG) stock in a research note released on July 27, 2020 offered a Buy rating with a price target of. SunTrust was of a view on July 01, 2020 that the stock is Buy, while SunTrust gave the stock Hold rating on March 09, 2020, issuing a price target of. Imperial Capital on their part issued Outperform rating on December 20, 2019.


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