Northern Oil and Gas (NYSE:NOG) Price Target Raised to $34.00

Northern Oil and Gas (NYSE:NOG) had its price target boosted by Citigroup from $28.00 to $34.00 in a report issued on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research analysts have also commented on NOG. Mizuho set a $29.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, January 21st. Royal Bank Of Canada reduced their target price on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 20th. Morgan Stanley set a $24.00 target price on shares of Northern Oil and Gas and gave the stock an “underweight” rating in a report on Friday, January 23rd. Piper Sandler lifted their price target on shares of Northern Oil and Gas from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Northern Oil and Gas presently has a consensus rating of “Hold” and a consensus target price of $31.14.

Northern Oil and Gas Trading Down 0.3%

Shares of NOG stock opened at $27.52 on Wednesday. The company has a market cap of $2.68 billion, a PE ratio of 83.40 and a beta of 0.96. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $32.62. The stock’s 50 day simple moving average is $25.16 and its two-hundred day simple moving average is $23.97. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09.

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

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, March 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Monday, March 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is 545.45%.

Institutional Investors Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOG. Quadrant Capital Group LLC lifted its holdings in Northern Oil and Gas by 14.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company’s stock valued at $66,000 after buying an additional 400 shares in the last quarter. Range Financial Group LLC grew its stake in Northern Oil and Gas by 5.3% in the 3rd quarter. Range Financial Group LLC now owns 9,736 shares of the company’s stock worth $241,000 after acquiring an additional 486 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Northern Oil and Gas by 18.8% in the 4th quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company’s stock worth $69,000 after acquiring an additional 507 shares in the last quarter. Virtus Investment Advisers LLC increased its position in shares of Northern Oil and Gas by 8.4% during the fourth quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company’s stock worth $159,000 after acquiring an additional 572 shares during the period. Finally, First National Advisers LLC raised its stake in shares of Northern Oil and Gas by 4.8% during the third quarter. First National Advisers LLC now owns 12,665 shares of the company’s stock valued at $314,000 after acquiring an additional 580 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas News Roundup

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

• Positive Sentiment: Piper Sandler raised its price target to $32 (from $27), signaling ~16% upside versus recent levels and providing some analyst support for the shares. Article Title
• Positive Sentiment: Citigroup set a new $34 price target on NOG, which is another upward-tilted analyst view that can cushion downside from near-term dilution concerns. Article Title
• Positive Sentiment: Zacks Research raised its Q1 2027 EPS estimate to $0.79 (from $0.69), indicating at least one near-term beat expectation that may support quarterly sentiment. MarketBeat: Zacks Research Note
• Neutral Sentiment: Zacks also issued a set of forward-year and quarter estimates (FY2026–FY2028, Q2–Q4 windows) that provide updated modeling inputs for investors; some of these are lower and some higher, so they mainly change conviction rather than the fundamental story. MarketBeat: Zacks Research Notes
• Negative Sentiment: Northern priced an underwritten public offering of 7,207,208 shares on March 11 and granted the underwriter a 30‑day option for up to 1,081,081 additional shares — a clear near‑term dilution overhang that typically pressures the stock. Business Wire: Pricing of Public Offering
• Negative Sentiment: The company announced completion of the public equity offering, confirming the dilution is moving forward and removing uncertainty about whether it would proceed. TipRanks: Offering Completed
• Negative Sentiment: Multiple Zacks Research cuts across Q2–Q4 2026 and FY2026–FY2027 lowered forward EPS projections (several quarter estimates materially trimmed), which increases downside risk to consensus earnings and share valuation. MarketBeat: Analyst Estimate Changes
• Negative Sentiment: Market reaction was immediate: headlines noted the stock sank after the offering launch — short‑term selling pressure is consistent with dilution and estimate cuts. MSN: Market Reaction

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.