Northern Oil and Gas Inc. [AMEX: NOG] closed the trading session at $11.76 on 02/11/21. The day’s price range saw the stock hit a low of $11.38, while the highest price level was $13.05. The company report on February 9, 2021 that Northern Oil and Gas Announces Pricing of Upsized Private Offering of Senior Notes.
Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced that it has priced an upsized private placement (the “Offering”) under Rule 144A and Regulation S of the Securities Exchange Act of 1933, as amended (the “Securities Act”), to eligible purchasers, of $550.0 million in aggregate principal amount of new 8.125% senior notes due 2028 (the “New Notes”) at par. The Offering is expected to close on February 18, 2021, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the Offering to (i) fund a portion of the cash purchase price for the Company’s recently announced pending acquisition of certain non-operated natural gas assets in the Appalachian Basin from Reliance Marcellus LLC (the “Reliance Acquisition”), (ii) repay a portion of the outstanding borrowings under its revolving credit facility, (iii) repurchase or redeem all of its outstanding 8.50% Senior Secured Second Lien Notes due 2023 (the “2023 Notes”), (iv) repay in full its outstanding senior unsecured promissory note due 2022, and (v) pay all accrued and unpaid interest due in connection with such repurchases, repayments and redemptions and all related premiums and transaction expenses. The Company intends to use any remaining net proceeds for general corporate purposes, which may include further repayment of a portion of the outstanding borrowings under its revolving credit facility.
The stocks have a year to date performance of 34.25 percent and weekly performance of 12.54 percent. The stock has been moved at 45.19 percent over the last six months. The stock has performed 5.38 percent around the most recent 30 days and changed 167.27 percent over the most recent 3-months.
If compared to the average trading volume of 1.36M shares, NOG reached to a volume of 1574293 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Northern Oil and Gas Inc. [NOG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOG shares is $14.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOG stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
RBC Capital Mkts have made an estimate for Northern Oil and Gas Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 26, 2021. While these analysts kept the previous recommendation, Raymond James raised their target price to Strong Buy. The new note on the price target was released on January 07, 2021, representing the official price target for Northern Oil and Gas Inc. stock. Previously, the target price had yet another raise to $10, while Wells Fargo analysts kept a Overweight rating on NOG stock.
The Average True Range (ATR) for Northern Oil and Gas Inc. is set at 0.94, with the Price to Sales ratio for NOG stock in the period of the last 12 months amounting to 0.91. Price to Free Cash Flow for NOG in the course of the last twelve months was 1.83 with Quick ratio for the last quarter at 1.10.
NOG stock trade performance evaluation
Northern Oil and Gas Inc. [NOG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.54. With this latest performance, NOG shares gained by 5.38% in over the last four-week period, additionally plugging by 45.19% over the last 6 months – not to mention a drop of -26.96% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOG stock in for the last two-week period is set at 58.59, with the RSI for the last a single of trading hit 57.28, and the three-weeks RSI is set at 59.59 for Northern Oil and Gas Inc. [NOG]. The present Moving Average for the last 50 days of trading for this stock 9.81, while it was recorded at 11.85 for the last single week of trading, and 7.75 for the last 200 days.
Northern Oil and Gas Inc. [NOG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Northern Oil and Gas Inc. [NOG] shares currently have an operating margin of +30.96 and a Gross Margin at +35.65. Northern Oil and Gas Inc.’s Net Margin is presently recorded at -12.69.
Return on Total Capital for NOG is now 12.68, given the latest momentum, and Return on Invested Capital for the company is -5.20. Return on Equity for this stock declined to -15.44, with Return on Assets sitting at -4.48. When it comes to the capital structure of this company, Northern Oil and Gas Inc. [NOG] has a Total Debt to Total Equity ratio set at 200.16. Additionally, NOG Total Debt to Total Capital is recorded at 66.68, with Total Debt to Total Assets ending up at 58.68. Long-Term Debt to Equity for the company is recorded at 200.16, with the Long-Term Debt to Total Capital now at 66.68.
Reflecting on the efficiency of the workforce at the company, Northern Oil and Gas Inc. [NOG] managed to generate an average of -$3,179,917 per employee. Receivables Turnover for the company is 5.84 with a Total Asset Turnover recorded at a value of 0.35.Northern Oil and Gas Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
Earnings per share (EPS) analysis for Northern Oil and Gas Inc. [NOG] stock
With the latest financial reports released by the company, Northern Oil and Gas Inc. posted 0.5/share EPS, while the average EPS was predicted by analysts to be reported at 0.72/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -30.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Northern Oil and Gas Inc. go to 5.00%.
Northern Oil and Gas Inc. [NOG]: Insider Ownership positions
There are presently around $192 million, or 40.30% of NOG stock, in the hands of institutional investors. The top three institutional holders of NOG stocks are: ANGELO GORDON & CO LP with ownership of 3,067,591, which is approximately 0% of the company’s market cap and around 5.00% of the total institutional ownership; FMR LLC, holding 2,748,006 shares of the stock with an approximate value of $32.32 million in NOG stocks shares; and WEISS MULTI-STRATEGY ADVISERS LLC, currently with $21.89 million in NOG stock with ownership of nearly 126.798% of the company’s market capitalization.
Positions in Northern Oil and Gas Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 36 institutional holders increased their position in Northern Oil and Gas Inc. [AMEX:NOG] by around 3,881,840 shares. Additionally, 68 investors decreased positions by around 6,376,631 shares, while 9 investors held positions by with 6,068,240 shares. The mentioned changes placed institutional holdings at 16,326,711 shares, according to the latest SEC report filing. NOG stock had 11 new institutional investments in for a total of 914,085 shares, while 41 institutional investors sold positions of 2,417,308 shares during the same period.