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

Northern Oil and Gas (NYSE:NOG) had its price objective boosted by equities research analysts at Piper Sandler from $27.00 to $32.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 15.24% from the company’s current price.

Several other research firms also recently weighed in on NOG. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Thursday, January 22nd. 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 dropped their price objective on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Morgan Stanley set a $24.00 target price on Northern Oil and Gas and gave the company an “underweight” rating in a research report on Friday, January 23rd. Finally, Citigroup raised their target price on Northern Oil and Gas from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.14.

Northern Oil and Gas Stock Down 2.9%

Northern Oil and Gas stock traded down $0.82 during midday trading on Thursday, reaching $27.77. The company’s stock had a trading volume of 3,767,985 shares, compared to its average volume of 2,305,793. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $2.70 billion, a P/E ratio of 84.09 and a beta of 0.96. The stock’s 50-day simple moving average is $24.93 and its 200-day simple moving average is $23.93. 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 results on Wednesday, February 25th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $610.18 million for the quarter, compared to analyst estimates of $524.98 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The company’s revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts expect that Northern Oil and Gas will post 5.18 EPS for the current year.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOG. First Horizon Corp purchased a new position in shares of Northern Oil and Gas during the 3rd quarter valued at about $27,000. Laurel Wealth Advisors LLC boosted its stake in shares of Northern Oil and Gas by 2,736.1% in the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after buying an additional 985 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after acquiring an additional 713 shares during the period. Global Retirement Partners LLC lifted its holdings in Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after acquiring an additional 1,432 shares during the period. Finally, Plato Investment Management Ltd acquired a new position in Northern Oil and Gas in the fourth quarter valued at approximately $43,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Northern Oil and Gas

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

• Positive Sentiment: Citigroup raised its price target to $34 and kept a buy rating, signaling institutional support and implying meaningful upside from current levels. Article Title
• Neutral Sentiment: Consensus full-year EPS expectations cited in the reports remain around $5.18 — a reminder that long?term analyst estimates still assume solid earnings power despite recent short?term cuts.
• Negative Sentiment: Zacks Research cut near?term EPS forecasts across multiple quarters (Q1 2026: $0.73?$0.67; Q2 2026: $0.59?$0.45; Q3 2027: $0.76?$0.59; Q4 2027: $0.74?$0.62), lowering expectations for 2026–2027 and increasing short?term earnings risk.
• Negative Sentiment: Northern launched a sizeable underwritten equity offering (up to $200M, plus a $30M option) — a clear dilutive event that increases share supply and can pressure the stock absent offsetting uses of proceeds. Article Title
• Negative Sentiment: The offering was priced (7,207,208 shares, with a 30?day option for an additional 1,081,081 shares) and is expected to close imminently, concretizing the dilution and near?term supply increase. Article Title
• Negative Sentiment: Market reaction: coverage noted the stock sank after the offering news — confirming the offering and earnings?estimate cuts are the primary downward catalysts today. Article Title

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.