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Northern Oil and Gas Inc. (NOG) receives an Equal-weight rating from Morgan Stanley

In a filing, Northern Oil and Gas Inc. revealed its President Dirlam Adam A. unloaded Company’s shares for reported $52722.0 on Jul 01 ’24. In the deal valued at $37.88 per share,1,392 shares were sold. As a result of this transaction, Dirlam Adam A. now holds 107,628 shares worth roughly $4.1 million.

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Then, Dirlam Adam A. sold 204 shares, generating $7,726 in total proceeds. Upon selling the shares at $37.88, the President now owns 17,727 shares.

Before that, Dirlam Adam A. sold 1,392 shares. Northern Oil and Gas Inc. shares valued at $56,877 were divested by the President at a price of $40.86 per share. As a result of the transaction, Dirlam Adam A. now holds 109,020 shares, worth roughly $4.15 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 Tuesday, Northern Oil and Gas Inc. [NYSE:NOG] saw its stock jump 1.04% to $38.07. Over the last five days, the stock has lost -0.91%. Northern Oil and Gas Inc. shares have risen nearly 2.70% since the year began. Nevertheless, the stocks have risen 10.93% over the past one year. While a 52-week high of $43.75 was reached on 04/30/24, a 52-week low of $31.13 was recorded on 02/05/24. SMA at 50 days reached $39.52, while 200 days put it at $37.93. A total of 1.37 million shares were traded, compared to the trading of 6.97 million shares in the previous session.

Levels Of Support And Resistance For NOG Stock

The 24-hour chart illustrates a support level at 37.77, which if violated will result in even more drops to 37.48. On the upside, there is a resistance level at 38.42. A further resistance level may holdings at 38.78. The Relative Strength Index (RSI) on the 14-day chart is 48.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 40.70%. Stochastics%K at 42.64% indicates the stock is a holding.

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