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Increased Earnings Estimates Seen for Northern Oil and Gas (NOG): Can It Move Higher?

Zacks Equity Research
Updated

Northern Oil and Gas, Inc. NOG is an independent energy company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NOG’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Northern Oil and Gas could be a solid choice for investors.

Current Quarter Estimates for NOG

In the past 30 days, 2 estimates have gone higher for Northern Oil and Gas while 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 3 cents a share 30 days ago, to 4 today, a move of 33.3%.

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Current Year Estimates for NOG

Meanwhile, Northern Oil and Gas’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 15 cents per share 30 days ago to 19 cents per share today, an increase of 26.7%.

NORTHRN OIL&GAS Price and Consensus

 

NORTHRN OIL&GAS Price and Consensus | NORTHRN OIL&GAS Quote

Bottom Line

The stock has also started to move higher lately, adding 40% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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NORTHRN OIL&GAS (NOG): Free Stock Analysis Report
 
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Zacks Investment Research