Northern Oil & Gas (NYSE:NOG) Stock

NORTHERN OIL AND GAS INC

Northern Oil & Gas

Northern Oil & Gas Inc is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil and natural gas properties. Its principal business is crude oil and natural gas exploration, development, and production. The company's oil and natural gas sales come from three geographic areas in the United States: the Williston Basin (North Dakota and Montana), the Permian Basin (New Mexico and Texas), the Uinta Basin, and the Appalachian Basin (Pennsylvania and Ohio).

Northern Oil & Gas Inc

NONGFU SPRING UNSP/ADR by NONGFU SPRING CO LTD.

Nongfu Spring Co Ltd

Nogin Inc COM NEW

Nogin Inc

Nogin Inc WT EXP

Nogin Inc Warrants (01/03/2028)

<ul>
<li>Reopening of existing 2029 convertible notes provides NOG with incremental strategic flexibility</li>
<li>A portion of the proceeds will be used to repurchase stock and purchase a hedge overlay intended to offset share dilution until the stock is above approximately $50.87</li>
</ul>

News

Reported Earlier, Northern Oil and Gas Prices $175M Convertible Notes Reopening At 105.597%, With $50.87 Cap To Offset Potential Dilution

Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) has outperformed the market over the past 5 years by 4.64% on an annualized basis producing an average annual return of 17.71%. Currently, Northern Oil &amp; Gas has a market capitalization of $2.74 billion. 
Buying $100 In NOG: If an investor had bought $100 of NOG stock 5 years ago, it would be worth $220.63 today based on a price of $27.80 for NOG at the time of writing.
<h3>Northern Oil &amp; Gas's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749157219_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Here's How Much $100 Invested In Northern Oil & Gas 5 Years Ago Would Be Worth Today

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Shares of energy related stocks are trading higher after President Trump said the U.S won't agree to any uranium enrichment by Iran. Additionally, the commodity could be seeing continued strength after OPEC+ decision to keep output levels unchanged.

B of A Securities analyst Noah Hungness maintains Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) with a Buy and raises the price target from $29 to $33.

Price Target

Analyst Ratings

B of A Securities Maintains Buy on Northern Oil & Gas, Raises Price Target to $33

Raymond James analyst John Freeman maintains Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) with a Strong Buy and raises the price target from $35 to $36.

Raymond James Maintains Strong Buy on Northern Oil & Gas, Raises Price Target to $36

Across the recent three months, 8 analysts have shared their insights on Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">6</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $36.88, a high estimate of $45.00, and a low estimate of $30.00. This current average has decreased by 11.66% from the previous average price target of $41.75. 
<img src="https://www.benzinga.com/files/images/story/2025/1747159238_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Northern Oil &amp; Gas. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$30.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>William Janela</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$33.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$34.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$34.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Noah Hungness</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$41.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Devin McDermott</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$38.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Paul Diamond</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$45.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$40.00</td>
<td>$45.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Northern Oil &amp; Gas. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Northern Oil &amp; Gas compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Northern Oil &amp; Gas's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
For valuable insights into Northern Oil &amp; Gas's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/NOG/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Northern Oil &amp; Gas analyst ratings.</a>
<h2>Delving into Northern Oil &amp; Gas's Background</h2>
Northern Oil &amp; Gas Inc is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil and natural gas properties. Its principal business is crude oil and natural gas exploration, development, and production. The company's oil and natural gas sales come from three geographic areas in the United States: the Williston Basin (North Dakota and Montana), the Permian Basin (New Mexico and Texas), the Uinta Basin, and the Appalachian Basin (Pennsylvania and Ohio).
<h3>Northern Oil &amp; Gas's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Northern Oil &amp; Gas's remarkable performance in 3M is evident. As of 31 March, 2025, the company achieved an impressive revenue growth rate of 8.5%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Northern Oil &amp; Gas's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 23.95% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Northern Oil &amp; Gas's ROE stands out, surpassing industry averages. With an impressive ROE of 5.89%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.46%, the company showcases effective utilization of assets.
Debt Management: With a high debt-to-equity ratio of 0.96, Northern Oil &amp; Gas faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Basics of Analyst Ratings</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Beyond The Numbers: 8 Analysts Discuss Northern Oil & Gas Stock

Piper Sandler analyst Mark Lear maintains Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) with a Neutral and lowers the price target from $34 to $30.

Piper Sandler Maintains Neutral on Northern Oil & Gas, Lowers Price Target to $30

Mizuho analyst William Janela maintains Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) with a Neutral and lowers the price target from $35 to $33.

Mizuho Maintains Neutral on Northern Oil & Gas, Lowers Price Target to $33

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Shares of energy stocks are trading higher amid a rise in the price of oil after the US and China agreed to a temporary reduction in most tariffs. The commodity may be experiencing strength amid escalating conflict between Pakistan and India.

Northern Oil & Gas shares are trading higher after the company reported better-than-expected Q1 financial results.

Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) reported quarterly earnings of $1.33 per share which beat the analyst consensus estimate of $1.12 by 18.75 percent. This is a 3.91 percent increase over earnings of $1.28 per share from the same period last year. The company reported quarterly sales of $576.95 million which beat the analyst consensus estimate of $560.82 million by 2.88 percent. This is a 8.44 percent increase over sales of $532.04 million the same period last year.

Earnings

Earnings Beats

Northern Oil & Gas Q1 Adj. EPS $1.33 Beats $1.12 Estimate, Sales $576.95M Beat $560.82M Estimate

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Earnings Scheduled For April 29, 2025

<a href="https://noginc.com/sustainability/default.aspx">https://noginc.com/sustainability/default.aspx</a>

General

NOG Reveals 2024 ESG Report

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Shares of energy stocks are trading higher as the price of oil rises. Oil has gained amid overall market strength following US Treasury Secretary Scott Bessent's reported remarks about trade de-escalation with China. Recent Iran sanctions may also be driving supply uncertainty.

RBC Capital analyst Scott Hanold reiterates Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) with a Sector Perform and maintains $34 price target.

Reiteration

RBC Capital Reiterates Sector Perform on Northern Oil & Gas, Maintains $34 Price Target

Northern Oil and Gas Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) shares are rising in extended trading Wednesday after the company provided an update on first-quarter hedging results <a href="https://www.benzinga.com/pressreleases/25/04/b44852024/nog-provides-update-on-first-quarter-hedging-results-and-shareholder-returns">and shareholder returns</a>.
What Happened: Northern Oil and Gas reported estimated unrealized mark-to-market gains on derivatives of $9 million to $10 million for the first quarter. The unrealized gains were driven primarily by changes to the value of the company&#8217;s oil derivatives portfolio.
Northern Oil And Gas said realized hedge gains were an estimated $11 million to $12 million in the quarter, primarily driven by the company&#8217;s crude oil and Waha basis hedges. 
Northern Oil and Gas noted it added &#8220;substantial&#8221; hedges since its fourth quarter report, including hedges to oil, natural gas and Waha, Midland-Cushing and M2 basis hedges.
The company also provided an update on shareholder returns. Northern Oil and Gas said it paid dividends of approximately $42 million during the first quarter. In February, the company declared a dividend of 45 cents per share, up 7% compared to the prior quarterly dividend. The dividend is payable on April 30.
See Also: <a href="https://www.benzinga.com/news/earnings/25/04/44852989/kinder-morgan-q1-earnings-revenue-beat-eps-miss-forward-guidance-our-company-can-be-a-safe-haven-during-the-storm">Kinder Morgan Q1 Earnings: Revenue Beat, EPS Miss, Forward Guidance — &#8216;Our Company Can Be A Safe Haven During The Storm&#8217;</a>
Northern Oil and Gas also said it repurchased 499,100 shares during the quarter at an average price of $30.07. Year-to-date shareholder returns are currently around $57 million, the company said.
Northern Oil and Gas is scheduled to report first-quarter earnings after the market close on April 29. Analysts are looking for adjusted earnings of 11 cents per share and revenue of $556.94 million, per <a href="http://pro.benzinga.com">Benzinga Pro</a> estimates.
NOG Price Action: <a href="http://benzinga.com/quote/nog">Northern Oil And Gas shares</a> were up 4.43% at $23.95 after-hours at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: <a href="https://www.shutterstock.com/g/color+space+illusion">fotokaleinar</a>/Shutterstock.

Dividends

Commodities

Buybacks

After-Hours Center

Movers

Northern Oil And Gas Stock Climbs On Q1 Hedging Results, Shareholder Return Update: What You Need To Know

RBC Capital analyst Scott Hanold maintains Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) with a Sector Perform and lowers the price target from $40 to $34.

RBC Capital Maintains Sector Perform on Northern Oil & Gas, Lowers Price Target to $34

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Shares of energy companies are trading lower as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

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Shares of energy stocks are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

B of A Securities analyst Noah Hungness maintains Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) with a Buy and lowers the price target from $48 to $41.

B of A Securities Maintains Buy on Northern Oil & Gas, Lowers Price Target to $41

Press Releases

NOG Board Approves Increase in Share Buyback Authorization; Adds $100 Million to Existing Program

NOG Schedules First Quarter 2025 Earnings Release and Conference Call

NOG Provides Update on First Quarter Hedging Results and Shareholder Returns

NOG Publishes 2024 ESG Report

NOG Announces First Quarter 2025 Results

NOG Declares $0.45 Quarterly Cash Dividend, 12.5% Increase Year-over-Year

NOG Expands Credit Facility

NOG Announces Proposed Reopening of 3.625% Convertible Senior Notes Due 2029

NOG Prices Upsized $175.0 Million Reopening of 3.625% Convertible Senior Notes Due 2029

NOG Closes Upsized Reopening of its 3.625% Convertible Unsecured Senior Notes Due 2029

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