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NOG
Volume: 1.4M

NOG Stock Forecast & Price Target

NOG Analyst Ratings

Based on 8 analyst ratings
Buy
Strong Buy 50%
Buy 0%
Hold 38%
Sell 13%
Strong Sell 0%

Bulls say

Northern Oil & Gas is set to pivot from initial capital spending expectations of $250-300 million, positioning itself for significant growth heading into FY26, even amid a modest decline in front-month WTI prices year-to-date. The company anticipates a robust reinvestment rate of 79% for FY26, indicating strong capital commitment to its operations and growth initiatives. Additionally, a projected leverage ratio of 1.6x at annualized 4Q26 EBITDA surpasses the peer median of less than 0.9x, suggesting Northern Oil & Gas is managing its financial metrics favorably in comparison to industry standards.

Bears say

Northern Oil & Gas is facing a significant downward revision in its production outlook, with projected oil production for FY26 declining to 73.9 mbbls/d from earlier estimates of approximately 84 mbbls/d, indicating a notable reduction in growth expectations. The company is also expected to experience a sequential decline in production for 3Q25 and maintain similar output levels in 4Q25, which raises concerns about its operational efficiency and growth trajectory. Additionally, the projected enterprise value to free cash flow yields of 11.9% for FY25 and 9.2% for FY26 are significantly lower than the small and mid-cap peer group averages of 13.3% and 15.9%, suggesting potential undervaluation relative to market expectations.

NOG has been analyzed by 8 analysts, with a consensus rating of Buy. 50% of analysts recommend a Strong Buy, 0% recommend Buy, 38% suggest Holding, 13% advise Selling, and 0% predict a Strong Sell.

This aggregate rating is based on analysts' research of Northern Oil and Gas and is not a guaranteed prediction by Public.com or investment advice.

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FAQs About Northern Oil and Gas (NOG) Forecast

Analysts have given NOG a Buy based on their latest research and market trends.

According to 8 analysts, NOG has a Buy consensus rating as of Jan 7, 2026. This rating is provided by third-party analysts and is not investment advice from Public.com.

Wall Street analysts have set a price target of $33, reflecting a 0.00% increase from the current stock price.

Financial analysts have set a price target of $33, indicating a 0.00% increase from the current stock price, but ratings and forecasts are frequently updated based on market conditions, earnings reports, and industry trends. This prediction is provided by third-party analysts and is not investment advice from Public.com.

Northern Oil and Gas (NOG)

Volume: 1.4M

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