Northern Oil and Gas, Inc. (NYSE:NOG) is one of the best performers on the stock market today. At current price of $1.91, the shares have already added 0.06 points (3.51% higher) from its previous close of $1.85. Should you buy or avoid them? The stock sets an active trading volume day with a reported 2101673 contracts so far this session. NOG shares had a relatively better volume day versus average trading capacity of 5.96 million shares, but with a 0.27 billion float and a 0% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NOG stock indicates that the average analyst price target is $3.41 per share. This means the stock has a potential increase of 78.53% from where the NOG share price has been trading recently which is between $1.77 and $1.87.
Looking at the current readings for Northern Oil and Gas, Inc., the two-week RSI stands at 49.45. This figure suggests that NOG stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NOG readings is similarly very revealing as it has a stochastic reading of 26.08% at this stage. This figure means that NOG share price today is being overbought.
Technical chart claims that Northern Oil and Gas, Inc. (NOG) would settle between $1.89/share to $1.93/share level. However, if the stock price goes below the $1.79 mark, then the market for Northern Oil and Gas, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.73 for its downside target.
Analysts at Imperial Capital lifted target price for shares of NOG but were stick to In-line recommendation for the stock in their opinion released on January 23. The price target has been raised from $4 to $3. CapitalOne analysts bumped their rating on Northern Oil and Gas, Inc. (NYSE:NOG) stock from Equal Weight to Overweight in a separate flash note issued to investors on July 31. Analysts at Northland Capital, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to May 30.
Moving on, NOG stock price is currently trading at 4.01X forward 12-month Consensus EPS estimates, and its P/E ratio is 1.7 while for the average stock in the same group, the multiple is 13.1. Northern Oil and Gas, Inc. current P/B ratio of 1.5 means it is trading at a premium against its industry’s 1.1.
Northern Oil and Gas, Inc. (NOG)’s current-quarter revenues are projected to climb by nearly 9.3% to hit $178100, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 29.6% from $471030 to a noteworthy $610500. At the other end of the current quarter income statement, Northern Oil and Gas, Inc. is expected to see its adjusted earnings surge by roughly -60% to hit $0.1 per share. For the fiscal year, NOG’s earnings are projected to climb by roughly -35.6% to hit $0.38 per share.