Northern Oil and Gas (NYSE:NOG) Sees Large Volume Increase - Time to Buy?

Key Points

• Northern Oil and Gas saw unusually heavy trading, with volume up 58% from the prior session and the stock edging higher to $23.98.
• Analysts turned more constructive on earnings, with Zacks and others raising near-term and full-year EPS estimates for 2026 and 2027, suggesting improving profitability expectations.
• The company declared a quarterly dividend of $0.45 per share, which annualizes to about a 7.5%–7.7% yield and may appeal to income investors.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 3,886,055 shares traded hands during trading, an increase of 58% from the previous session's volume of 2,461,092 shares.The stock last traded at $23.98 and had previously closed at $23.36.

Key Stories Impacting Northern Oil and Gas

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

• Positive Sentiment: Zacks Research raised near-term earnings estimates for Northern Oil and Gas, including higher EPS forecasts for Q2 2026, Q3 2026, Q4 2026, Q1 2027, and Q2 2027, suggesting analysts see stronger profitability ahead. Northern Oil and Gas analyst estimate updates
• Positive Sentiment: Analysts also increased full-year estimates for FY2026 and FY2027, reinforcing the view that earnings momentum could improve over the next two years. Northern Oil and Gas analyst estimate updates
• Positive Sentiment: The company declared a quarterly dividend of $0.45 per share, implying an annualized yield of about 7.7%, which may attract income-focused investors and support the stock. Northern Oil and Gas dividend announcement
• Neutral Sentiment: One longer-term estimate was trimmed slightly for FY2028, but that appears minor compared with the broader run of upward revisions. Northern Oil and Gas analyst estimate updates

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NOG shares. Morgan Stanley reaffirmed an "underweight" rating on shares of Northern Oil and Gas in a report on Friday, March 27th. Piper Sandler raised their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. Royal Bank Of Canada raised their target price on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a "sector perform" rating in a report on Wednesday, April 8th. Citigroup cut their target price on shares of Northern Oil and Gas from $39.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Finally, Mizuho set a $29.00 target price on shares of Northern Oil and Gas in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $31.33.

Northern Oil and Gas Stock Performance

The business's fifty day moving average is $27.18 and its two-hundred day moving average is $24.66. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $2.55 billion, a PE ratio of -3.79 and a beta of 0.75.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. The firm had revenue of $5.03 million during the quarter, compared to analyst estimates of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. Northern Oil and Gas's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. As a group, research analysts anticipate that Northern Oil and Gas, Inc. will post 3.04 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be given a $0.45 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a yield of 7.5%. Northern Oil and Gas's dividend payout ratio (DPR) is currently -28.26%.

Institutional Trading of Northern Oil and Gas

A number of institutional investors have recently bought and sold shares of the stock. Lombard Odier Asset Management USA Corp bought a new stake in Northern Oil and Gas in the first quarter worth $312,000. Van Den Berg Management I Inc. lifted its position in Northern Oil and Gas by 10.5% in the first quarter. Van Den Berg Management I Inc. now owns 42,343 shares of the company's stock worth $1,238,000 after buying an additional 4,038 shares during the last quarter. Entropy Technologies LP bought a new stake in Northern Oil and Gas in the first quarter worth $227,000. First Trust Advisors LP lifted its position in Northern Oil and Gas by 116.8% in the first quarter. First Trust Advisors LP now owns 1,167,971 shares of the company's stock worth $34,140,000 after buying an additional 629,197 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Northern Oil and Gas by 23.6% in the first quarter. PNC Financial Services Group Inc. now owns 11,746 shares of the company's stock worth $343,000 after buying an additional 2,240 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

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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