NOG Stock Summary and Trading Ideas (Northern Oil & Gas | NYSE:NOG)

Northern Oil & Gas Inc is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil and natural gas properties. Its principal business is crude oil and natural gas exploration, development, and production. Company's oil and natural gas sales come from three geographic areas in the United States: the Williston Basin (North Dakota and Montana), the Permian Basin (New Mexico and Texas), and the Appalachian Basin (Pennsylvania and Ohio).

Northern Oil & Gas trades on the NYSE stock market under the symbol NOG.

As of May 21, 2024, NOG stock price climbed to $40.96 with 1,516,759 million shares trading.

NOG has a beta of 0.35, meaning it tends to be less sensitive to market movements. NOG has a correlation of 0.02 to the broad based SPY ETF.

NOG has a market cap of $4.13 billion. This is considered a Mid Cap stock.

Last quarter Northern Oil & Gas reported $532 million in Revenue and $1.28 earnings per share. This beat revenue expectation by $25 million and exceeded earnings estimates by $.09.

In the last 3 years, NOG stock traded as high as $43.75 and as low as $14.03.

The top ETF exchange traded funds that NOG belongs to (by Net Assets): IJR, VTI, VB, XOP, IWM.

NOG has outperformed the market in the last year with a return of +36.3%, while the SPY ETF gained +28.5%. In the last 3 month period, NOG beat the market returning +23.2%, while SPY returned +7.3%. However, in the most recent 2 weeks NOG has underperformed the stock market by returning +0.9%, while SPY returned +2.9%.

NOG support price is $40.06 and resistance is $41.22 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NOG stock will trade within this expected range on the day.