A vice president of oil and natural gas producer Parallel Petroleum Corp. sold 30,000 shares of common stock, according to a Securities and Exchange Commission filing Wednesday.
In a Form 4 filed with the SEC, John S. Rutherford reported selling the shares on Tuesday for $17.50 apiece.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Parallel Petroleum is based in Midland, Texas.
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