Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock trades on the New York Stock Exchange under the symbol “NOG.” The closing price for our common stock on February 24, 2022 was $23.26 per share.
Comparison Chart
The following information in this Item 5 of this Annual Report on Form 10-K is not deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C under the Securities Exchange Act of 1934 or to the liabilities of Section 18 of the Securities Exchange Act of 1934, and will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent we specifically incorporate it by reference into such a filing.
The following graph compares the 60-month cumulative total shareholder return on our common stock since December 31, 2016, and the cumulative total returns of Standard & Poor’s Composite 500 Index and the NYSE Arca Oil Index (formerly the AMEX Oil Index) for the same period. This graph tracks the performance of a $100 investment in our common stock and in each index (with the reinvestment of all dividends) from December 31, 2016 to December 31, 2021.
38
Table of Contents
* The following table sets forth the total returns utilized to generate the foregoing graph.
12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021
Northern Oil & Gas, Inc. 100.00 74.55 82.18 85.09 31.85 75.40
S&P 500 100.00 121.83 116.49 153.17 181.35 233.41
NYSE Arca Oil Index 100.00 114.61 105.34 114.58 75.70 109.17
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
Holders
As of February 21, 2022, we had 77,341,129 shares of our common stock outstanding, held by approximately 202 stockholders of record. The number of record holders does not necessarily bear any relationship to the number of beneficial owners of our common stock.
Recent Sales of Unregistered Securities
None, except to the extent previously included by the Company in a Quarterly Report on Form 10-Q or Current Report on Form 8-K.
Issuer Purchases of Equity Securities
The table below sets forth the information with respect to purchases made by or on behalf of the Company, or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of our common stock during the quarter ended December 31, 2021.
Period Total Number of Shares Purchased(1) Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs(2)
Month #1
October 1, 2021 to October 31, 2021 — $ — — $ 68.1 million
Month #2
November 1, 2021 to November 30, 2021 — — — 68.1 million
Month #3
December 1, 2021 to December 31, 2021 — — — 68.1 million
Total — $ — — $ 68.1 million
__________________________________
(1) Any shares purchased outside of publicly announced plans or programs represent shares surrendered in satisfaction of tax withholding obligations in connection with the vesting of restricted stock awards.
(2) In May 2011, our board of directors approved a stock repurchase program to acquire up to $150 million worth of shares of our Company’s outstanding common stock.
Item 6. [RESERVED]
39
Table of Contents