Northern Oil and Gas Inc.’s recent filing unveils that its CEO O’GRADY NICHOLAS L. unloaded Company’s shares for reported $0.15 million on Apr 04 ’24. In the deal valued at $40.98 per share,3,750 shares were sold. As a result of this transaction, O’GRADY NICHOLAS L. now holds 228,082 shares worth roughly $9.44 million.
Then, Dirlam Adam A. sold 1,392 shares, generating $55,513 in total proceeds. Upon selling the shares at $39.88, the President now owns 111,804 shares.
Before that, Evans James B. sold 630 shares. Northern Oil and Gas Inc. shares valued at $25,124 were divested by the Chief Technical Officer at a price of $39.88 per share. As a result of the transaction, Evans James B. now holds 76,903 shares, worth roughly $3.18 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 Monday, Northern Oil and Gas Inc. [NYSE:NOG] saw its stock fall -0.17% to $41.41. Over the last five days, the stock has gained 4.44%. Northern Oil and Gas Inc. shares have risen nearly 11.71% since the year began. Nevertheless, the stocks have risen 27.38% over the past one year. While a 52-week high of $43.64 was reached on 04/08/24, a 52-week low of $29.57 was recorded on 02/05/24. SMA at 50 days reached $36.16, while 200 days put it at $37.53. A total of 1.11 million shares were traded, compared to the trading of 1.61 million shares in the previous session.
Levels Of Support And Resistance For NOG Stock
The 24-hour chart illustrates a support level at 41.18, which if violated will result in even more drops to 40.94. On the upside, there is a resistance level at 41.74. A further resistance level may holdings at 42.06. The Relative Strength Index (RSI) on the 14-day chart is 76.24, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.35, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.51%. Stochastics %K at 89.85% 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 Mar 15, 2024, dropping by -1.99 million shares to a total of 8.68 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 10.67 million shares. There was a decline of -22.93%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.94% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.63.
