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Northern Drilling (OSL:NODL) Momentum Rank : 0 (As of Jun. 07, 2024)


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What is Northern Drilling Momentum Rank?

Northern Drilling has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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Northern Drilling (OSL:NODL) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Northern Drilling Ltd (OSL:NODL) » Definitions » Momentum Rank
Comparable Companies
BOM:532915 BOM:540769 BOM:540716 BOM:543412 BOM:540719 BOM:500271 BOM:540133 BOM:540777 ADX:ADNOCDRILL NE PTEN RIG SAU:2381 SHSE:600871 HP SDRL OSL:BORR DO NBR TSX:PD
Traded in Other Exchanges
NODLo:Sweden
Address
14 Par La Ville Road, Par La Ville Place, Hamilton, BMU, HM08
Website
https://www.northerndrillingltd.com
Northern Drilling Ltd is an international drilling contractor for the oil and gas industry, with the ambition of acquiring and operating modern drilling assets, and is expected to be primarily engaged in offshore contract drilling in ultra-deepwater environments. West Aquila and West Libra are some of its major sophisticated high-end drilling units.

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