Northern Oil & Gas Inc (NOG)
Cash ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 8,195 | 12,952 | 14,805 | 6,073 | 2,528 | 9,129 | 1,471 | 3,335 | 9,519 | 2,006 | 4,843 | 2,729 | 1,428 | 1,803 | 1,838 | 8,512 | 16,068 | 1,901 | 2,794 | 3,944 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 385,761 | 602,491 | 378,751 | 345,300 | 344,972 | 381,746 | 635,932 | 625,529 | 327,557 | 355,172 | 300,837 | 155,968 | 182,475 | 170,455 | 179,220 | 235,078 | 203,477 | 230,824 | 232,726 | 226,054 |
| Cash ratio | 0.02 | 0.02 | 0.04 | 0.02 | 0.01 | 0.02 | 0.00 | 0.01 | 0.03 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.04 | 0.08 | 0.01 | 0.01 | 0.02 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($8,195K
+ $—K)
÷ $385,761K
= 0.02
The cash ratio of Northern Oil and Gas Inc. has fluctuated over the past eight quarters, ranging from 0.03 to 0.35. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher ratio indicates a stronger ability to cover short-term obligations.
In Q4 2023 and Q1 2023, the company had a cash ratio of 0.35, indicating that it had sufficient cash and cash equivalents to cover 35% of its short-term liabilities. This suggests a relatively strong liquidity position during those periods.
The cash ratio in Q2 2023 was 0.32, also reflecting a reasonable liquidity position. However, in Q3 2023, the ratio dropped to 0.18, which may indicate a slight decrease in the company's ability to cover its short-term obligations with cash.
Comparing these figures to previous quarters, the company experienced fluctuations in its cash ratio. In Q4 2022 and Q3 2022, the cash ratio was relatively low at 0.14 and 0.15, respectively. This suggests that the company may have faced challenges in covering its short-term liabilities with cash during those periods.
The lowest cash ratios were observed in Q2 2022 and Q1 2022, at 0.03 and 0.04, respectively, indicating a weaker liquidity position during those quarters.
Overall, while the company's cash ratio has shown fluctuations, maintaining a higher ratio would indicate a stronger ability to meet short-term obligations with cash on hand. It is important for Northern Oil and Gas Inc. to closely monitor and manage its liquidity position to ensure it can meet its financial obligations in a timely manner.
Peer comparison
Dec 31, 2023