Northern Oil and Gas Inc.’s recent filing unveils that its President Dirlam Adam A. unloaded Company’s shares for reported $79344.0 on Mar 15 ’24. In the deal valued at $38.00 per share,2,088 shares were sold. As a result of this transaction, Dirlam Adam A. now holds 122,359 shares worth roughly $4.78 million.
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Then, Evans James B. sold 945 shares, generating $35,910 in total proceeds. Upon selling the shares at $38.00, the Chief Technical Officer now owns 83,872 shares.
Before that, Dirlam Adam A. sold 306 shares. Northern Oil and Gas Inc. shares valued at $11,628 were divested by the President at a price of $38.00 per share. As a result of the transaction, Dirlam Adam A. now holds 20,678 shares, worth roughly $0.81 million.
Morgan Stanley initiated its Northern Oil and Gas Inc. [NOG] rating to an Equal-weight in a research note published on January 05, 2024; the price target was $40. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “an Underperform”. Johnson Rice also remained covering NOG and has decreased its forecast on December 14, 2023 with a “Accumulate” recommendation from previously “Buy” rating. Piper Sandler revised its rating on August 14, 2023. It rated NOG as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of NOG
On Friday, Northern Oil and Gas Inc. [NYSE:NOG] saw its stock fall -1.14% to $39.03. Over the last five days, the stock has gained 2.95%. Northern Oil and Gas Inc. shares have risen nearly 5.29% since the year began. Nevertheless, the stocks have risen 39.54% over the past one year. While a 52-week high of $43.64 was reached on 03/22/24, a 52-week low of $26.91 was recorded on 02/05/24. SMA at 50 days reached $35.02, while 200 days put it at $37.17. A total of 0.78 million shares were traded, compared to the trading of 0.9 million shares in the previous session.
Levels Of Support And Resistance For NOG Stock
The 24-hour chart illustrates a support level at 38.75, which if violated will result in even more drops to 38.47. On the upside, there is a resistance level at 39.50. A further resistance level may holdings at 39.96. The Relative Strength Index (RSI) on the 14-day chart is 71.97, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.70, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.32%. Stochastics %K at 94.05% 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 Feb 29, 2024, growing by 1.31 million shares to a total of 10.95 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 9.64 million shares. There was a rise of 11.96%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.54% of the overall stock float, the days-to-cover ratio (short ratio) rose to 8.62.
