Northern Oil and Gas (NOG) has been under a strong bear grip, hence the stock is down -16.41% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.24% in the past 1 week. The stock has risen by 1.3% in the past week indicating that the buyers are active at lower levels, but the stock is down -15.55% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 3.05% and the 50-Day Moving Average is 10.82%. Northern Oil and Gas (NYSEMKT:NOG): On Fridays trading session , Opening price of the stock was $4.06 with an intraday high of $4.06. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $3.89. However, the stock managed to close at $3.91, a loss of 2.25% for the day. On the previous day, the stock had closed at $4. The total traded volume of the day was 628,759 shares.
The company Insiders own 9.5% of Northern Oil and Gas shares according to the proxy statements. Institutional Investors own 61.96% of Northern Oil and Gas shares. Also, Brokerage firm Wunderlich maintains its rating on Northern Oil and Gas (NYSEMKT:NOG). As per the latest information, the brokerage house raises the price target to $5 per share from a prior target of $4. The shares have been rated Hold. The rating by the firm was issued on May 20, 2016.
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.