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 $32,420 were sold by Dirlam Adam A. on Sep 03 ’24. At $38.78 per share, Dirlam Adam A. sold 836 shares. The insider’s holdings dropped to 110,384 shares worth approximately $4.11 million following the completion of this transaction.
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Also, Dirlam Adam A. sold 122 shares, netting a total of over 4,731 in proceeds. Following the sale of shares at $38.78 each, the insider now holds 17,157 shares.
Before that, Allen Chad W had sold 500 shares from its account. In a trade valued at $19,390, the CFO traded Northern Oil and Gas Inc. shares for $38.78 each. Upon closing the transaction, the insider’s holdings decreased to 500 shares, worth approximately $3.2 million.
As published in their initiating research note from Mizuho on September 19, 2024, Northern Oil and Gas Inc. [NOG] has been an Outperform and the price target has been revised to $47. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in early January. As of January 05, 2024, BofA Securities has decreased its “Buy” rating to a “an Underperform” for NOG. Earlier on December 14, 2023, Johnson Rice downgraded its rating. Their new recommendation was “a Accumulate” for NOG stock which previously was a “a Buy”.
Analyzing NOG Stock Performance
During the last five days, there has been a surge of approximately 9.27%. Over the course of the year, Northern Oil and Gas Inc. shares have jumped approximately 0.49%. Shares of the company reached a 52-week high of $43.80 on 07/31/24 and a 52-week low of $31.13 on 02/05/24. A 50-day SMA is recorded $38.41, while a 200-day SMA reached $37.90. Nevertheless, trading volume fell to 1.36 million shares from 1.23 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 36.68, which, if violated, would cause prices to drop to 36.11. In the upper region, resistance lies at 37.80. The next price resistance is at 38.35. RSI (Relative Strength Index) is 52.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.70, which suggests the price will decrease in the coming days. Percent R is at 39.01%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
