Citigroup Cuts Northern Oil and Gas (NYSE:NOG) Price Target to $28.00

Posted by Brian Himes on Jul 23rd, 2026

Northern Oil and Gas (NYSE:NOG – Free Report) had its price objective decreased by Citigroup from $36.00 to $28.00 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. Royal Bank Of Canada raised their price objective on Northern Oil and Gas from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Weiss Ratings lowered Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Wall Street Zen cut Northern Oil and Gas from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Mizuho decreased their price target on shares of Northern Oil and Gas from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Finally, Bank of America lifted their price target on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.62.

View Our Latest Stock Report on NOG

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $22.08 on Monday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a 50-day moving average of $20.77 and a two-hundred day moving average of $24.15. The stock has a market cap of $2.40 billion, a P/E ratio of -3.47 and a beta of 0.69. Northern Oil and Gas has a 1-year low of $17.18 and a 1-year high of $31.17.

Northern Oil and Gas (NYSE:NOG – Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The business had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. During the same period in the previous year, the company earned $1.33 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts expect that Northern Oil and Gas will post 3.48 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a yield of 8.2%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently -28.26%.

Insider Activity at Northern Oil and Gas

In related news, Director Bahram Akradi bought 25,760 shares of the stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $19.40 per share, with a total value of $499,744.00. Following the completion of the acquisition, the director owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. This trade represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NOG. Quadrant Capital Group LLC increased its stake in shares of Northern Oil and Gas by 14.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company’s stock valued at $66,000 after purchasing an additional 400 shares during the period. SBI Securities Co. Ltd. grew its holdings 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 buying an additional 507 shares in the last quarter. Virtus Investment Advisers LLC increased its position in Northern Oil and Gas by 8.4% in the 4th quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company’s stock valued at $159,000 after acquiring an additional 572 shares during the period. Isthmus Partners LLC raised its stake in Northern Oil and Gas by 0.8% during the 1st quarter. Isthmus Partners LLC now owns 82,358 shares of the company’s stock valued at $2,407,000 after acquiring an additional 619 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Northern Oil and Gas by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 91,485 shares of the company’s stock worth $1,963,000 after acquiring an additional 633 shares during the period. 98.80% of the stock is currently owned by institutional investors.

About Northern Oil and Gas

(Get Free Report)

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.