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Weakness Seen in Northern Oil and Gas (NOG): Stock Tumbles 9.3%

Zacks Equity Research

Northern Oil and Gas, Inc. (NOG) saw a big move last session, as the company’s shares fell over 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for NOG, as the stock is now down over 14% since Feb 24.

This slump shouldn’t be too much of a surprise to investors, as this independent energy company has seen 4 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

NOG currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is positive.

Some better-ranked stocks in the oil exploration and production industry include Warren Resources Inc. (WRES), Abraxas Petroleum Corp. (AXAS) and Range Resources Corporation (RRC). While Warren Resources sports a Zacks Rank #1 (Strong Buy), Abraxas and Range Resources hold a Zacks Rank #2 (Buy).

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NORTHERN OIL AND GAS INC (NOG): Free Stock Analysis Report

WARREN RESOURCES INC (WRES): Free Stock Analysis Report

ABRAXAS PETROLEUM CP (AXAS): Free Stock Analysis Report

RANGE RESOURCES CORP (RRC): Free Stock Analysis Report

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