Northern Oil and Gas, Inc. (NOG Quick QuoteNOG - Free Report) is an independent energy companythat 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, 3 estimates have gone higher for Northern Oil and Gas, while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 1 penny a share 30 days ago, to 3 cents per share today, a significant move.

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 none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing down from a loss of 9 cents per share 30 days ago to a loss of 2 cents per share today, a significant increase.  

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 8.7% 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 #2 (Buy) stock to profit in the near future.

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