Northern Oil and Gas Inc. [AMEX: NOG] gained 16.03% on the last trading session, reaching $14.55 price per share at the time. The company report on February 18, 2021 that Northern Oil and Gas Announces Early Results of Its Tender Offer and Consent Solicitation.
Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced the early tender results of its previously announced cash tender offer (the “Offer”) for any and all of its outstanding 8.50% Senior Secured Second Lien Notes due 2023 (the “Notes”). The terms and conditions of the Offer and the Solicitation (as defined below) are set forth in the Company’s Offer to Purchase and Consent Solicitation Statement, dated as of February 3, 2021 (as it may be amended or supplemented from time to time, the “Statement”).
According to information provided by D.F. King & Co, Inc., the Information Agent and Tender Agent for the Offer, $272,086,378 aggregate principal amount of Notes, or 94.6% of the total outstanding Notes, were validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on February 17, 2021 (the “Early Tender and Consent Date”), pursuant to the Offer. Because the withdrawal deadline relating to the Offer expired immediately after the Early Tender and Consent Date, these Notes, as well as any subsequently tendered Notes, may not be withdrawn.
Northern Oil and Gas Inc. represents 43.52 million in outstanding shares, while the company has a total market value of $826.00 million with the latest information. NOG stock price has been found in the range of $12.64 to $14.60.
If compared to the average trading volume of 1.40M shares, NOG reached a trading volume of 4115272 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $16.10 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 1.02, with the Price to Sales ratio for NOG stock in the period of the last 12 months amounting to 1.47. Price to Free Cash Flow for NOG in the course of the last twelve months was 2.95 with Quick ratio for the last quarter at 1.10.
Trading performance analysis for NOG stock
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 22.06. With this latest performance, NOG shares gained by 39.23% in over the last four-week period, additionally plugging by 109.71% over the last 6 months – not to mention a drop of -2.35% 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 71.32, with the RSI for the last a single of trading hit 75.49, and the three-weeks RSI is set at 69.03 for Northern Oil and Gas Inc. [NOG]. The present Moving Average for the last 50 days of trading for this stock 10.50, while it was recorded at 12.34 for the last single week of trading, and 7.93 for the last 200 days.
Northern Oil and Gas Inc. [NOG]: A deeper dive into fundamental analysis
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.
Northern Oil and Gas Inc. [NOG]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at Northern Oil and Gas Inc. [NOG]
There are presently around $260 million, or 28.40% 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 6.00% of the total institutional ownership; FMR LLC, holding 2,748,006 shares of the stock with an approximate value of $39.98 million in NOG stocks shares; and WEISS MULTI-STRATEGY ADVISERS LLC, currently with $34.24 million in NOG stock with ownership of nearly 26.412% 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 48 institutional holders increased their position in Northern Oil and Gas Inc. [AMEX:NOG] by around 4,164,908 shares. Additionally, 36 investors decreased positions by around 4,721,725 shares, while 15 investors held positions by with 8,982,103 shares. The mentioned changes placed institutional holdings at 17,868,736 shares, according to the latest SEC report filing. NOG stock had 18 new institutional investments in for a total of 853,816 shares, while 22 institutional investors sold positions of 1,908,400 shares during the same period.