Northern Oil and Gas (NYSEMKT:NOG) has risen sharply, recording gains of 4.84% in the past 4 weeks. However, the stock has corrected -3.6% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.17% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have dropped -21.82% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $6.29 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $4.59 and the 200 Day Moving Average price is recorded at $4.07.
The stock has recorded a 20-day Moving Average of 1.12% and the 50-Day Moving Average is 3.2%.
Northern Oil and Gas (NYSEMKT:NOG): stock turned positive on Friday. Though the stock opened at $4.42, the bulls momentum made the stock top out at $4.65 level for the day. The stock recorded a low of $4.42 and closed the trading day at $4.55, in the green by 4.84%. The total traded volume for the day was 640,271. The stock had closed at $4.34 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (C E O) of Northern Oil & Gas, Inc., Reger Michael Lewis, had purchased 25,000 shares in a transaction dated on May 19, 2015. The transaction was executed at $6.46 per share with total amount equaling $161,500.
Northern Oil and Gas, Inc. is an independent energy company. The Company is 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. The Company acquires leasehold interests that comprise of non-operated working interests in wells and in drilling projects within its area of operations. The Company owns working interests in 2,338 gross (185.7 net) producing wells, consisting of 2,337 wells targeting the Bakken and Three Forks formations and one exploratory well targeting another formation.