Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Northern Oil and Gas Inc. shares valued at $56,877 were sold by Dirlam Adam A. on Jun 03 ’24. At $40.86 per share, Dirlam Adam A. sold 1,392 shares. The insider’s holdings dropped to 109,020 shares worth approximately $4.12 million following the completion of this transaction.
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Also, Dirlam Adam A. sold 204 shares, netting a total of over 8,335 in proceeds. Following the sale of shares at $40.86 each, the insider now holds 17,931 shares.
Before that, Dirlam Adam A. had sold 1,392 shares from its account. In a trade valued at $57,058, the President traded Northern Oil and Gas Inc. shares for $40.99 each. Upon closing the transaction, the insider’s holdings decreased to 1,392 shares, worth approximately $4.17 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 drop of approximately -5.72%. Over the course of the year, Northern Oil and Gas Inc. shares have jumped approximately 1.89%. 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 $40.81, while a 200-day SMA reached $38.25. Nevertheless, trading volume fell to 0.87 million shares from 1.49 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 37.55, which, if violated, would cause prices to drop to 37.32. In the upper region, resistance lies at 37.99. The next price resistance is at 38.20. RSI (Relative Strength Index) is 36.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.77, which suggests the price will decrease in the coming days. Percent R is at 90.95%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
