Northern Oil and Gas is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Williston Basin, the Appalachian Basin and the Permian Basin. Co. primarily engage in oil and natural gas exploration and production by participating on a proportionate basis alongside third-party interests in wells drilled and completed in spacing units that include Co.'s acreage. In addition, Co. acquires wellbore-only working interests in wells in which Co. does not hold the leasehold interests from third parties unable or unwilling to participate in particular well proposals. More details about Northern Oil & Gas at:
http://www.northernoil.com.
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Should Northern Oil & Gas shares be counted among the
Top 10 Cheap Energy Stocks? To start, we see that the recent trading price for NOG stock is $42.04 (as of 4/18/2024). The most recent quarter's (MRQ) earnings result, annualized, was $6.44/share. Looking at the sum total of quarterly earnings across the trailing twelve month (TTM) period, Northern Oil & Gas produced $6.59/share. And taking the median quarterly result across the TTM period, and annualizing it, results in $6.68/share. Comparing these various earnings metrics against the stock price, we end up with a PE ratio of 6.3 for the TTM Median method, 6.5 for price to earnings using MRQ annualized, and 6.4 for current price/TTM earnings. Based on NOG's history, that recent TTM PE is low relative to the historical average, with the recent PE 16.9% lower than the average (TTM method) of 7.7.