In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Northern Oil & Gas, Inc. (NYSEMKT:NOG) reported that World Point Terminals, Inc. has picked up 6,150,000 of common stock as of 2017-06-07.
The acquisition brings the aggregate amount owned by World Point Terminals, Inc. to a total of 6,150,000 representing less than 9.71% stake in the company.
For those not familiar with the company, Northern Oil and Gas, Inc. is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana. The Company holds working interests in over 2,630 gross (204.3 net) producing wells, including over 2,630 wells targeting the Bakken and Three Forks formations and over two wells targeting other formations. The Company leases approximately 165,910 net acres, all located in the Williston Basin. The Company engages in oil exploration and production through non-operated working interests in wells drilled and completed in spacing units that include its acreage. The Company’s proved reserves are approximately 65.3 million barrels of oil equivalent (MMBoe).
A glance at Northern Oil & Gas, Inc. (NYSEMKT:NOG) key stats reveals a current market capitalization of 114.18 Million based on 63.33 Million shares outstanding and a price at last close of $1.70 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-02-23, Rowling picked up 137,409 at a purchase price of $2.63. This brings their total holding to 12,202,365 as of the date of the filing.
On the sell side, the most recent transaction saw Reger unload 72,681 shares at a sale price of $16.01. This brings their total holding to 2,596,041.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Northern Oil & Gas, Inc. (NYSEMKT:NOG) as things move forward to see if its progress aligns with these transactions.
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