20 Underperforming Stocks Targeted By Short Sellers

3. Northern Oil and Gas, Inc. (NYSE:NOG)

Short interest: 19.88%

6 months’ performance: -33.9%

Northern Oil and Gas, Inc. operates as an independent energy company. The company acquires, develops, explores, exploits, and produces natural gas and crude oil properties. The company’s stock is down 36.28% in the last 6 months, with a short interest of 19.88%.

NOG has just announced its Q1 earnings, reporting production of 135,000 BOW per day. Gas production, which comprises 42% of the total production mix, grew 14% YoY and 6.5% QoQ. The firm expects 2025 CepEx to be between $1.05 billion and $1.2 billion, with a vast majority of this amount reserved for maintenance expenditures.

CEO Nick O’Grady has previously emphasized Northern’s focus on long-term growth by saying:

The company’s strategy to prioritize long-term growth over short-term metrics, explaining a shift in the Uinta program to implement larger, optimally spaced 3-mile laterals, which will push volumes later into the year but improve capital efficiency.