Northern Oil and Gas (NYSE:NOG) Price Target Raised to $32.00

Key Points

• Piper Sandler raised its price target on Northern Oil and Gas from $27.00 to $32.00 while maintaining a "neutral" rating, implying about a 15.2% upside from current levels.
• Analyst views are mixed — Citigroup lifted its target to $34 with a "buy", Morgan Stanley has an $24 "underweight", and the MarketBeat consensus averages a $31.14 target with an overall "Hold" rating.
• Despite beating quarterly estimates (EPS $0.83 vs $0.71; revenue $610.2M), the stock fell after the company launched a dilutive underwritten equity offering (priced at ~7.21M shares plus a 30‑day option), and Zacks cut near‑term EPS forecasts, increasing short‑term downside risk.

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its price target boosted by equities research analysts at Piper Sandler from $27.00 to $32.00 in a report released on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target indicates a potential upside of 15.24% from the stock's current price.

A number of other brokerages have also commented on NOG. Morgan Stanley set a $24.00 price target on shares of Northern Oil and Gas and gave the company an "underweight" rating in a research note on Friday, January 23rd. Royal Bank Of Canada decreased their target price on Northern Oil and Gas from $33.00 to $30.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 20th. Citigroup increased their price target on Northern Oil and Gas from $28.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday. Mizuho set a $29.00 price objective on Northern Oil and Gas in a report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $31.14.

Northern Oil and Gas Trading Down 2.9%

Shares of NOG traded down $0.82 during trading hours on Thursday, reaching $27.77. 3,767,985 shares of the company traded hands, compared to its average volume of 2,305,793. The stock's fifty day moving average price is $24.93 and its 200 day moving average price is $23.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.13. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 84.09 and a beta of 0.96. Northern Oil and Gas has a 12-month low of $19.88 and a 12-month high of $32.62.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.71 by $0.12. The company had revenue of $610.18 million for the quarter, compared to the consensus estimate of $524.98 million. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. The firm's revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 EPS. Sell-side analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current year.

Institutional Trading of Northern Oil and Gas

Hedge funds have recently modified their holdings of the company. First Horizon Corp purchased a new position in shares of Northern Oil and Gas in the 3rd quarter worth approximately $27,000. Laurel Wealth Advisors LLC raised its stake in shares of Northern Oil and Gas by 2,736.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company's stock worth $29,000 after acquiring an additional 985 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock valued at $33,000 after acquiring an additional 713 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock valued at $36,000 after acquiring an additional 1,432 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in Northern Oil and Gas in the fourth quarter valued at approximately $43,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Northern Oil and Gas

Here are the key news stories impacting Northern Oil and Gas this week:

• Positive Sentiment: Citigroup raised its price target to $34 and kept a buy rating, signaling institutional support and implying meaningful upside from current levels. Article Title
• Neutral Sentiment: Consensus full-year EPS expectations cited in the reports remain around $5.18 — a reminder that long‑term analyst estimates still assume solid earnings power despite recent short‑term cuts.
• Negative Sentiment: Zacks Research cut near‑term EPS forecasts across multiple quarters (Q1 2026: $0.73→$0.67; Q2 2026: $0.59→$0.45; Q3 2027: $0.76→$0.59; Q4 2027: $0.74→$0.62), lowering expectations for 2026–2027 and increasing short‑term earnings risk.
• Negative Sentiment: Northern launched a sizeable underwritten equity offering (up to $200M, plus a $30M option) — a clear dilutive event that increases share supply and can pressure the stock absent offsetting uses of proceeds. Article Title
• Negative Sentiment: The offering was priced (7,207,208 shares, with a 30‑day option for an additional 1,081,081 shares) and is expected to close imminently, concretizing the dilution and near‑term supply increase. Article Title
• Negative Sentiment: Market reaction: coverage noted the stock sank after the offering news — confirming the offering and earnings‑estimate cuts are the primary downward catalysts today. Article Title

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company's primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.

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