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 $57,058 were sold by Dirlam Adam A. on May 01 ’24. At $40.99 per share, Dirlam Adam A. sold 1,392 shares. The insider’s holdings dropped to 110,412 shares worth approximately $4.5 million following the completion of this transaction.
Also, Dirlam Adam A. sold 204 shares, netting a total of over 8,362 in proceeds. Following the sale of shares at $40.99 each, the insider now holds 18,135 shares.
Before that, Evans James B. had sold 3,150 shares from its account. In a trade valued at $132,300, the Chief Technical Officer traded Northern Oil and Gas Inc. shares for $42.00 each. Upon closing the transaction, the insider’s holdings decreased to 3,150 shares, worth approximately $3.01 million.
As published in their initiating research note from Morgan Stanley on January 05, 2024, Northern Oil and Gas Inc. [NOG] has been an Equal-weight and the price target has been revised to $40. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”an Underperform”‘ outlook in a report released in early January. As of December 14, 2023, Johnson Rice has decreased its “Buy” rating to a “Accumulate” for NOG. Earlier on August 14, 2023, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for NOG stock which previously was a “an Overweight”.
Analyzing NOG Stock Performance
During the last five days, there has been a surge of approximately 2.00%. Over the course of the year, Northern Oil and Gas Inc. shares have jumped approximately 9.98%. Shares of the company reached a 52-week high of $43.75 on 04/30/24 and a 52-week low of $31.13 on 02/05/24. A 50-day SMA is recorded $39.96, while a 200-day SMA reached $38.35. Nevertheless, trading volume fell to 0.98 million shares from 0.96 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 40.33, which, if violated, would cause prices to drop to 39.90. In the upper region, resistance lies at 41.07. The next price resistance is at 41.38. RSI (Relative Strength Index) is 48.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.92, which suggests the price will decrease in the coming days. Percent R is at 68.98%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
