Northern Oil and Gas (NYSE:NOG) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Northern Oil and Gas from hold to buy, adding a fresh bullish signal even as the broader analyst view remains mixed.
• Other recent analyst actions were mixed: some firms raised price targets, while others cut ratings or stayed cautious. Overall, MarketBeat reports a consensus Hold rating with an average price target of $33.00.
• The stock was trading near its 52-week low at $20.77, while the company’s latest quarter beat EPS expectations at $0.74 vs. $0.71 forecast. Analysts also expect 3.46 EPS for the current fiscal year.

Northern Oil and Gas (NYSE:NOG - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other equities analysts also recently commented on NOG. Morgan Stanley reiterated an "underweight" rating and issued a $29.00 target price (up from $28.00) on shares of Northern Oil and Gas in a research report on Friday, May 22nd. Raymond James Financial downgraded Northern Oil and Gas from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $37.00 to $35.00 in a research report on Thursday, May 21st. Bank of America increased their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Weiss Ratings downgraded Northern Oil and Gas from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada increased their target price on Northern Oil and Gas from $30.00 to $35.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $33.00.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $20.77 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43. Northern Oil and Gas has a twelve month low of $20.06 and a twelve month high of $32.62. The company has a market cap of $2.26 billion, a P/E ratio of -3.26 and a beta of 0.68. The business has a fifty day simple moving average of $24.59 and a 200 day simple moving average of $24.74.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The business had revenue of $5.03 million during the quarter, compared to the consensus estimate of $511.38 million. During the same period in the prior year, the company earned $1.33 EPS. Northern Oil and Gas's revenue for the quarter was down 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Northern Oil and Gas will post 3.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in shares of Northern Oil and Gas by 1,621.9% in the first quarter. NewEdge Advisors LLC now owns 18,114 shares of the company's stock valued at $529,000 after buying an additional 17,062 shares during the period. Bank of America Corp DE increased its stake in shares of Northern Oil and Gas by 18.5% in the first quarter. Bank of America Corp DE now owns 1,245,639 shares of the company's stock valued at $36,410,000 after buying an additional 194,861 shares during the period. California State Teachers Retirement System increased its stake in shares of Northern Oil and Gas by 25.1% in the first quarter. California State Teachers Retirement System now owns 110,016 shares of the company's stock valued at $3,216,000 after buying an additional 22,102 shares during the period. Empowered Funds LLC increased its stake in shares of Northern Oil and Gas by 5.3% in the first quarter. Empowered Funds LLC now owns 403,127 shares of the company's stock valued at $11,783,000 after buying an additional 20,413 shares during the period. Finally, Maverick Capital Ltd. acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at about $602,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Trending Headlines about Northern Oil and Gas

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

• Positive Sentiment: Zacks Research increased its FY2026 EPS estimate for Northern Oil and Gas to $3.07 from $2.74, implying stronger near-term earnings power. Northern Oil and Gas stock page
• Positive Sentiment: The firm also lifted FY2027 EPS estimates to $3.49 from $3.15 and FY2028 estimates to $3.35 from $3.02, pointing to continued confidence in longer-term profitability. Northern Oil and Gas stock page
• Positive Sentiment: Quarterly outlooks were also raised, including Q2 2026, Q3 2026, Q4 2026, and 2027 quarters, which can reinforce investor sentiment that earnings momentum is improving. Northern Oil and Gas stock page

Northern Oil and Gas Company Profile

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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