Northern Oil and Gas Inc.’s recent filing unveils that its Chief Legal Officer & Sec. Romslo Erik J. unloaded Company’s shares for reported $0.31 million on Aug 25. In the deal valued at $40.73 per share,7,500 shares were sold. As a result of this transaction, Romslo Erik J. now holds 80,036 shares worth roughly $ 3.38 million.
Then, Akradi Bahram sold 110,291 shares, generating $4,624,579 in total proceeds. Upon selling the shares at $41.93, the Director now owns 1,600,000 shares.
Before that, Allen Chad W sold 4,800 shares. Northern Oil and Gas Inc. shares valued at $193,549 were divested by the CFO at a price of $40.32 per share. As a result of the transaction, Allen Chad W now holds 49,097 shares, worth roughly $2.08 million.
Piper Sandler downgraded its Northern Oil and Gas Inc. [NOG] rating to a Neutral from a an Overweight in a research note published on Tuesday. PT values the company’s stock at a premium of 8.07 to its Tuesday closing price.
Price Performance Review of NOG
On Tuesday, Northern Oil and Gas Inc. [NYSE:NOG] saw its stock fall -1.63% to $42.29. On the same session, the stock had its day’s lowest price of $42.235, but rose to a high of $43.6389. Over the last five days, the stock has gained 3.30%. Northern Oil and Gas Inc. shares have risen nearly 37.22% since the year began. Nevertheless, the stocks have risen 39.48% over the past one year. While a 52-week high of $43.10 was reached on 09/05/23, a 52-week low of $24.21 was recorded on 03/15/23. SMA at 50 days reached $38.40, while 200 days put it at $33.63. A total of 2.26 million shares were traded, compared to the trading of 1.42 million shares in the previous session.
Levels Of Support And Resistance For NOG Stock
The 24-hour chart illustrates a support level at 41.80, which if violated will result in even more drops to 41.32. On the upside, there is a resistance level at 43.21. A further resistance level may holdings at 44.13. The Relative Strength Index (RSI) on the 14-day chart is 63.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.30, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 34.33%. Stochastics %K at 86.39% indicates the stock is a selling.
How much short interest is there in Northern Oil and Gas Inc.?
A steep rise in short interest was recorded in Northern Oil and Gas Inc. stocks on Aug 14, 2023, dropping by 90000.0 shares to a total of 9.66 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 9.75 million shares. There was a decline of -0.93%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.16% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.72.
Northern Oil and Gas Inc. [NOG] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 11,308,634 shares, or roughly 12.16% of the outstanding NOG shares. In other words, the investor’s shares have risen by 1,001,645 from its previous 13-F filing of 10306989.0. Additionally, Fidelity Management & Research Co increased 2.60% of its stake after which the total value it holdings stand at $241,946,406, while The Vanguard Group, Inc. added 12.58% of its stake to hold $233.38 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -92,910 shares of Northern Oil and Gas Inc., while Angelo, Gordon & Co. LP sold -1,177,810 shares. At present, Copeland Capital Management LLC is holding 2,529,105 shares valued at $99.57 million. Invesco Advisers, Inc. owned 2,096,697 shares of the company at the time of its most recent 13F filing, worth $82.55 million.
According to FactSet, Northern Oil and Gas Inc.’s share price will average $49.77 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.31 percent from its previous closing price of $42.99. Analysts expect Northern Oil and Gas Inc. stock to reach the higher price of $57.00, while the lowest price estimate is $43.00. However, 12 analysts have rated NOG stock as a Buy in their predictions for 2023.