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Northern Oil & Gas Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Northern Oil & Gas has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Northern Oil & Gas's Piotroski F-Score or its related term are showing as below:

NOG' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Northern Oil & Gas was 8. The lowest was 2. And the median was 5.


Northern Oil & Gas Piotroski F-Score Historical Data

The historical data trend for Northern Oil & Gas's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Northern Oil & Gas Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 7.00 3.00 4.00 6.00

Northern Oil & Gas Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 5.00 6.00 5.00 8.00

Competitive Comparison

For the Oil & Gas E&P subindustry, Northern Oil & Gas's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Northern Oil & Gas Piotroski F-Score Distribution

For the Oil & Gas industry and Energy sector, Northern Oil & Gas's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Northern Oil & Gas's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 12.554 + 174.728 + -206.56 + 251.264 = $232 Mil.
Cash Flow from Operations was 94.413 + 133.102 + 154.034 + 210.239 = $592 Mil.
Revenue was 259.67 + 332.373 + 456.458 + 549.643 = $1,598 Mil.
Gross Profit was 160.617 + 213.932 + 314.117 + 386.365 = $1,075 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(1091.81 + 1244.062 + 1522.866 + 2024.469 + 2192.235) / 5 = $1615.0884 Mil.
Total Assets at the begining of this year (Jun21) was $1,092 Mil.
Long-Term Debt & Capital Lease Obligation was $1,102 Mil.
Total Current Assets was $383 Mil.
Total Current Liabilities was $636 Mil.
Net Income was -233.004 + -142.123 + -90.357 + -90.563 = $-556 Mil.

Revenue was 73.683 + 99.516 + 157.332 + 225.717 = $556 Mil.
Gross Profit was 11.802 + 29.509 + 78.346 + 133.596 = $253 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(1263.273 + 1025.524 + 872.089 + 873.243 + 1091.81) / 5 = $1025.1878 Mil.
Total Assets at the begining of last year (Jun20) was $1,263 Mil.
Long-Term Debt & Capital Lease Obligation was $802 Mil.
Total Current Assets was $140 Mil.
Total Current Liabilities was $301 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Northern Oil & Gas's current Net Income (TTM) was 232. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Northern Oil & Gas's current Cash Flow from Operations (TTM) was 592. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun21)
=231.986/1091.81
=0.21247836

ROA (Last Year)=Net Income/Total Assets (Jun20)
=-556.047/1263.273
=-0.44016377

Northern Oil & Gas's return on assets of this year was 0.21247836. Northern Oil & Gas's return on assets of last year was -0.44016377. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Northern Oil & Gas's current Net Income (TTM) was 232. Northern Oil & Gas's current Cash Flow from Operations (TTM) was 592. ==> 592 > 232 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=1102.214/1615.0884
=0.68244809

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=801.998/1025.1878
=0.78229374

Northern Oil & Gas's gearing of this year was 0.68244809. Northern Oil & Gas's gearing of last year was 0.78229374. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun22)=Total Current Assets/Total Current Liabilities
=382.795/635.932
=0.60194329

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=139.664/300.837
=0.46425141

Northern Oil & Gas's current ratio of this year was 0.60194329. Northern Oil & Gas's current ratio of last year was 0.46425141. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Northern Oil & Gas's number of shares in issue this year was 86.788. Northern Oil & Gas's number of shares in issue last year was 60.695. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1075.031/1598.144
=0.67267468

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=253.253/556.248
=0.45528793

Northern Oil & Gas's gross margin of this year was 0.67267468. Northern Oil & Gas's gross margin of last year was 0.45528793. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun21)
=1598.144/1091.81
=1.46375651

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=556.248/1263.273
=0.44032288

Northern Oil & Gas's asset turnover of this year was 1.46375651. Northern Oil & Gas's asset turnover of last year was 0.44032288. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+0+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Northern Oil & Gas has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Northern Oil & Gas  (NYSE:NOG) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Northern Oil & Gas Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Northern Oil & Gas's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Northern Oil & Gas Business Description

Northern Oil & Gas logo
Traded in Other Exchanges
Address
4350 Baker Road, Suite 400, Minnetonka, MN, USA, 55343
Northern Oil & Gas Inc is an independent energy company engaged in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties. Its principal business is crude oil and natural gas exploration, development, and production with operations in North Dakota and Montana that primarily target the Bakken and Three Forks formations in the Williston Basin of the United States.
Executives
Pomerantz Jennifer S. director 4350 BAKER ROAD SUITE 400 MINNETONKA MN 55343
Rowling Family 2012 Long Term Trust other: See Remarks 4001 MAPLE AVENUE, SUITE 600 DALLAS TX 75219
Evans James B. officer: Executive VP & Chief Engineer 601 CARLSON PARKWAY SUITE 990 MINNETONKA MN 55305
Rowling Foundation other: See Remarks 4001 MAPLE AVENUE, SUITE 600 DALLAS TX 75219
Lasher Stuart G. director 4931 NEW PROVIDENCE TAMPA FL 33629
Ttbr Investments Llc 10 percent owner 4001 MAPLE AVE SUITE 600 DALLAS TX 75219
Trbrjr Investments Llc 10 percent owner 4001 MAPLE AVE SUITE 600 DALLAS TX 75219
Kelly Michael D. officer: EVP of Finance 3762 INGOLD STREET HOUSTON TX 77005
Wr Operating Llc 10 percent owner 3811 TURTLE CREEK BLVD SUITE 550 DALLAS TX 75219
Crestview W2 Holdings, L.p. 10 percent owner 590 MADISON AVENUE 26TH FLOOR NEW YORK NY 10022
W Energy Partners Llc 10 percent owner 3811 TURTLE CREEK BLVD SUITE 550 DALLAS TX 75219
Crestview Partners Iii Gp, L.p. 10 percent owner C/O CRESTVIEW PARTNERS 590 MADISON AVENUE, 42ND FLOOR NEW YORK NY 10022
Lenz Joseph Z. director 601 CARLSON PARKWAY SUITE 990 MINNETONKA MN 55305
O'grady Nicholas L. officer: Chief Financial Officer 601 CARLSON PARKWAY SUITE 990 MINNETONKA MN 55305
Easley Roy Ernest director 1048 TEXAN TRAIL GRAPEVINE TX 76051

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