Citigroup Forecasts Strong Price Appreciation for Northern Oil and Gas (NYSE:NOG) Stock

Northern Oil and Gas (NYSE:NOG) had its price target lifted by research analysts at Citigroup from $28.00 to $34.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 23.12% from the stock’s current price.

Other research analysts have also issued reports about the company. Piper Sandler boosted their price target on Northern Oil and Gas from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Royal Bank Of Canada dropped their price objective on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. 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. Finally, Mizuho set a $29.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and an average price target of $31.14.

Northern Oil and Gas Price Performance

NYSE NOG opened at $27.62 on Wednesday. The company has a market cap of $2.69 billion, a PE ratio of 83.68 and a beta of 0.96. The firm’s 50 day moving average price is $25.05 and its 200-day moving average price is $23.96. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.09 and a current ratio of 1.09. Northern Oil and Gas has a 52-week low of $19.88 and a 52-week high of $32.62.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The company had revenue of $610.18 million during 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%. Northern Oil and Gas’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Sell-side analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NOG. Tributary Capital Management LLC grew its stake in shares of Northern Oil and Gas by 146.3% during the third quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company’s stock worth $32,544,000 after acquiring an additional 779,492 shares during the last quarter. Channing Capital Management LLC raised its position in shares of Northern Oil and Gas by 15.7% in the 3rd quarter. Channing Capital Management LLC now owns 1,702,177 shares of the company’s stock valued at $42,214,000 after purchasing an additional 230,899 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its position in shares of Northern Oil and Gas by 390.1% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 72,721 shares of the company’s stock valued at $1,803,000 after purchasing an additional 57,882 shares during the last quarter. 12th Street Asset Management Company LLC boosted its stake in Northern Oil and Gas by 20.0% in the 3rd quarter. 12th Street Asset Management Company LLC now owns 240,730 shares of the company’s stock worth $5,970,000 after purchasing an additional 40,181 shares in the last quarter. Finally, Register Financial Advisors LLC boosted its stake in Northern Oil and Gas by 364.4% in the 3rd quarter. Register Financial Advisors LLC now owns 104,547 shares of the company’s stock worth $2,593,000 after purchasing an additional 82,033 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Key Northern Oil and Gas News

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

• Positive Sentiment: Citigroup raised its price target to $34 and reiterated a “buy” view, signaling meaningful upside vs. the current market level. Citigroup $34 PT
• Positive Sentiment: Piper Sandler lifted its target to $32 (while keeping a “neutral” rating), which also increases the street upside expectation. Piper Sandler $32 PT
• Neutral Sentiment: The company announced a proposed underwritten public offering to raise up to $200M (with a 30‑day option for an additional $30M), signaling a capital‑raising move that could fund activities or balance‑sheet needs. Proposed Offering Announcement
• Negative Sentiment: The offering was priced (7,207,208 shares, plus underwriter option), confirming dilution and immediate share overhang. That concretely increases share supply and can pressure the stock. Offering Priced
• Negative Sentiment: Market reaction to the offering was negative — news reports show the stock fell after the offering was launched/priced, reflecting investor concern over dilution and near‑term supply. MSN: Stock Sinks After Offering
• Negative Sentiment: Zacks Research cut multiple near‑term EPS estimates (Q1/Q2/Q3/Q4 windows noted) and issued lower quarterly forecasts, which reduces short‑term earnings visibility and can weigh on multiples. Zacks Cuts EPS Estimates

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.