Analysts Set Northern Oil and Gas, Inc. (NYSE:NOG) Price Target at $31.71

Shares of the energy company have a 'Hold' rating from analysts covering the stock.

Apr. 5, 2026 at 5:54am

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Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have earned a consensus 'Hold' rating from the nine ratings firms currently covering the stock, with an average 1-year price target of $31.71. Several analysts have weighed in on the stock, with Morgan Stanley setting a $24 target price and an 'underweight' rating, while Citigroup raised its price target to $39 and maintained a 'buy' rating.

Why it matters

Northern Oil and Gas is a publicly traded independent energy company focused on acquiring, exploring, and developing oil and natural gas resources in the Williston Basin region. The company's stock performance and analyst ratings provide insight into the market's sentiment and expectations for the company's future growth and profitability.

The details

The analysts' ratings and price targets reflect a mixed outlook on Northern Oil and Gas. While some firms see upside potential, with Citigroup raising its price target to $39, others like Morgan Stanley are more cautious, setting a $24 target and an 'underweight' rating. The company's recent financial results, including a Q4 2025 earnings beat, have likely contributed to the varied analyst views.

  • Northern Oil and Gas last reported earnings on February 25, 2026.
  • The company is scheduled to pay a $0.45 quarterly dividend on April 30, 2026.

The players

Northern Oil and Gas, Inc.

A publicly traded independent energy company focused on acquiring, exploring, and developing oil and natural gas resources in the Williston Basin region.

Morgan Stanley

A global financial services firm that has set a $24 target price and 'underweight' rating on Northern Oil and Gas shares.

Citigroup

A multinational investment bank that has raised its price target on Northern Oil and Gas shares to $39 and maintained a 'buy' rating.

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What they’re saying

“We must remain cautious on Northern Oil and Gas given the uncertain market conditions and potential headwinds facing the energy sector.”

— Morgan Stanley Analyst, Equity Research Analyst

“Northern Oil and Gas continues to demonstrate strong operational execution and growth potential, which is why we are raising our price target and maintaining our buy rating.”

— Citigroup Analyst, Senior Equity Research Analyst

What’s next

Investors will be closely watching Northern Oil and Gas's upcoming quarterly earnings report and any further updates from analysts on the company's outlook and valuation.

The takeaway

The mixed analyst views on Northern Oil and Gas highlight the uncertainties facing the energy sector, but the company's recent financial performance and strategic positioning in the Williston Basin suggest it may have opportunities for growth if market conditions improve.