In Wednesday’s session, Northern Oil and Gas Inc. (NYSE:NOG) marked $27.50 per share, down from $29.27 in the previous session. While Northern Oil and Gas Inc. has underperformed by -6.05%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NOG rose by 66.57%, with highs and lows ranging from $39.10 to $14.03, whereas the simple moving average jumped by 8.61% in the last 200 days.
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On March 15, 2022, Johnson Rice Upgraded Northern Oil and Gas Inc. (NYSE: NOG) to Buy. A report published by Wells Fargo on March 14, 2022, Downgraded its rating to ‘Equal Weight’ for NOG. BofA Securities also Downgraded NOG shares as ‘Neutral’, setting a target price of $38 on the company’s shares in a report dated March 08, 2022. BofA Securities October 14, 2021d its ‘Buy’ rating to ‘Neutral’ for NOG, as published in its report on October 14, 2021. Piper Sandler’s report from July 22, 2021 suggests a price prediction of $23 for NOG shares, giving the stock a ‘Overweight’ rating. Piper Sandler also rated the stock as ‘Neutral’.
Analysis of Northern Oil and Gas Inc. (NOG)
With NOG’s current dividend of $0.76 per share, investors can expect to earn a return regardless of performance. Further, the quarter-over-quarter increase in sales is 239.60%, showing a positive trend in the upcoming months.
Northern Oil and Gas Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 379.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and NOG has an average volume of 1.25M. On a monthly basis, the volatility of the stock is set at 5.77%, whereas on a weekly basis, it is put at 5.76%, with a loss of -0.72% over the past seven days. Furthermore, long-term investors anticipate a median target price of $43.50, showing growth from the present price of $27.50, which can serve as yet another indication of whether NOG is worth investing in or should be passed over.
How Do You Analyze Northern Oil and Gas Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 77.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in NOG shares?
The recent increase in stakes in NOG appears to be a result of several institutional investors and hedge funds increasing their positions. Capital Research & Management Co’s position in NOG has decreased by 0.00% in the first quarter. The company now owns 6,054,000 shares of the stock, with a value of $152.92 million, following the sale of 0 additional shares during the last quarter. Fidelity Management & Research Co made another increased to its shares in NOG during the first quarter, upping its stake by 13.03%. During the last quarter, the company picked up 521,877 additional shares for a total stake of worth $114.35 million, bringing number of shares owned by the company to 4,526,856.
During the first quarter, BlackRock Fund Advisors added a 305,139 position in NOG. The Vanguard Group, Inc. sold an additional 94865.0 shares in the last quarter, decreasing its holdings by -2.44%, now holding 3.79 million shares worth $95.86 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its NOG holdings by 29.01% and now holds 3.3 million NOG shares valued at $83.38 million with the added 0.74 million shares during the period. NOG shares are owned by institutional investors to the tune of 77.30% at present.