This is very, very interesting. Not the data point itself, but rather the fact that a relatively "small" company (market cap: $865 million) like NOG makes the "front page" of Yahoo!Finance, unfortunately not for the best of reasons.
Forbes is reporting:
In trading on Monday, shares of Northern Oil & Gas Inc crossed below their 200 day moving average of $14.20, changing hands as low as $13.97 per share. Northern Oil & Gas Inc shares are currently trading off about 1.7% on the day.A chart at the link shows the one year performance of NOG shares, versus its 200 day moving average.
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I started noticing "this" about one to weeks ago, but didn't say anything because this is not an investment site. Now that others are reporting it, I can link those reports. From SeekingAlpha, one of my favorite contributors:
As I write this, the DJIA is up +184 points yet the stocks of some of the fastest growing shale oil producers are strong to the downside: EOG Resources is down -$3.67, Whiting Petroleum is down -$1.70, and Continental Resources is down -$3.70. Smaller producers like Kodiak Oil & Gas and Oasis Petroluem are also off sharply. Meanwhile, Exxon Mobil is up +$1.30 and Chevron is up +$1.12.
Energy investors appear to be rotating into big cap dividend paying oil stocks.
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