Here's Why Northern Oil and Gas (NOG) is a Strong Growth Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Northern Oil and Gas (NOG)
Northern Oil and Gas, Inc. is an independent upstream operator engaged in the acquisition, exploration, development and production of oil and natural gas properties. Headquartered in Minnetonka, MN, the firm is primarily focused on three leading basins of the United States — the Williston, Permian and the Appalachian.
NOG boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 11.9% year-over-year for 2023, while Wall Street anticipates its top line to improve by 1.7%.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.02 to $7.31 per share. NOG also boasts an average earnings surprise of 2.4%.
Looking at cash flow, Northern Oil and Gas is expected to report cash flow growth of 104.7% this year; NOG has generated cash flow growth of 62.4% over the past three to five years.
Investors should take the time to consider NOG for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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Northern Oil and Gas, Inc. (NOG) : Free Stock Analysis Report
