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Northern Oil and Gas (NOG) Flat As Market Gains: What You Should Know

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Northern Oil and Gas (NOG - Free Report) closed at $11.76 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500's 0.47% gain on the day. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.5%.

Coming into today, shares of the independent oil and gas company had gained 1.12% in the past month. In that same time, the Oils-Energy sector gained 0.53%, while the S&P 500 gained 3.18%.

Investors will be hoping for strength from NOG as it approaches its next earnings release. The company is expected to report EPS of $0.67, up 34% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $119.03 million, down 25.93% from the year-ago period.

Investors might also notice recent changes to analyst estimates for NOG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.48% lower. NOG currently has a Zacks Rank of #3 (Hold).

Investors should also note NOG's current valuation metrics, including its Forward P/E ratio of 5.5. Its industry sports an average Forward P/E of 13.48, so we one might conclude that NOG is trading at a discount comparatively.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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