Saturday, June 25, 2022

Insider Selling: Rowling Robert B., Northern Oil and Gas Inc. [NOG] 10% Owner divested 117,860 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Northern Oil and Gas Inc. shares valued at $3,890,559 were sold by Rowling Robert B. on Jun 03. At $33.01 per share, Rowling Robert B. sold 117,860 shares. The insider’s holdings dropped to 8,263,719 shares worth approximately $225.43 million following the completion of this transaction.


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Also, Rowling Robert B. sold 182,140 shares, netting a total of over 5,999,575 in proceeds. Following the sale of shares at $32.94 each, the insider now holds 8,381,579 shares.

Before that, Rowling Robert B. had sold 400,000 shares from its account. In a trade valued at $13,304,108, the 10% Owner traded Northern Oil and Gas Inc. shares for $33.26 each. Upon closing the transaction, the insider’s holdings decreased to 400,000 shares, worth approximately $233.62 million.

As published in a research note from Johnson Rice on March 15, 2022, Northern Oil and Gas Inc. [NOG] has been rated up from a Accumulate to a Buy and the price target has been revised to $50. This represents a 45.44% premium over Wednesday’s closing price. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid March. As of March 08, 2022, BofA Securities has decreased its “Buy” rating to a “Neutral” for NOG. Earlier on December 17, 2021, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for NOG stock which previously was a “a Neutral”.

Analyzing NOG’s Price Performance

On Wednesday, Northern Oil and Gas Inc. [NYSE: NOG] plunged -11.54% to $27.28. The stock’s lowest price that day was $27.23, but it reached a high of $29.14 in the same session. During the last five days, there has been a drop of approximately -20.70%. Over the course of the year, Northern Oil and Gas Inc. shares have jumped approximately 32.56%. Shares of the company reached a 52-week high of $39.10 on 06/08/22 and a 52-week low of $20.02 on 01/24/22. A 50-day SMA is recorded $29.40, while a 200-day SMA reached $24.64. Nevertheless, trading volume fell to 2.05 million shares from 2.16 million shares the previous day.

Support And Resistance Levels for Northern Oil and Gas Inc. (NOG)

According to the 24-hour chart, there is a support level at 26.63, which, if violated, would cause prices to drop to 25.97. In the upper region, resistance lies at 28.54. The next price resistance is at 29.79. RSI (Relative Strength Index) is 39.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.95, which suggests the price will decrease in the coming days. Percent R is at 99.58%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Northern Oil and Gas Inc. (NOG)?

According to Capital Research & Management Co filings, the company currently owns 6,054,000 shares, which is about 7.83% of the total NOG shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 6054000.0 shares. With the completion of the buy, Fidelity Management & Research Co’s stake is now worth $147,982,923. BlackRock Fund Advisors acquire a 8.43% interest valued at $128.27 million while The Vanguard Group, Inc. sold a -94,865 stake. A total of 742,371 shares of Northern Oil and Gas Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 182,261 were bought by Copeland Capital Management LLC. In its current portfolio, Invesco Advisers, Inc. holds 2,041,361 shares valued at $66.73 million.

In terms of Northern Oil and Gas Inc. share price expectations, FactSet research, analysts set an average price target of $44.92 in the next 12 months, up nearly 32.94% from the previous closing price of $30.84. Analysts anticipate Northern Oil and Gas Inc. stock to reach $71.00 by 2022, with the lowest price target being $30.00. In spite of this, 12 analysts ranked Northern Oil and Gas Inc. stock as a Buy at the end of 2022. On October 14, 2021, BofA Securities assigned a price target of “a Neutral” to the stock and downgraded coverage with a $30.

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