Raymond James Reiterates Buy Rating on Northern Oil and Gas

Raymond James reiterated its buy rating on Northern Oil and Gas, Inc. (NYSE: NOG) on June 15, 2026, maintaining a price target of $30. Analyst John Freeman continues to see potential upside for the stock, which is trading around $20.79.

Other Institutional Activity in Northern Oil and Gas

BlackRock, Inc. increased its stake in Northern Oil and Gas by 1,148,557 shares, bringing its total holdings to 15,718,942 shares valued at approximately $459.5 million. State Street Corp also added 1,356,072 shares, ending with 6,539,968 shares worth about $194.1 million. On the other hand, American Century Companies Inc reduced its position by 425,775 shares, holding 7,974,272 shares valued at $233.1 million.

Northern Oil and Gas, Inc. Stock Snapshot

Shares of Northern Oil and Gas, Inc. (NYSE: NOG) are trading near $20.79. The company has a market cap of approximately $2.17 billion and a forward P/E ratio of 4.78. Its beta is 0.686, indicating lower volatility compared to the market. The stock's 52-week range is between $19.64 and $32.27, with a 50-day moving average of $24.45 and a 200-day moving average of $24.43.

Recent Earnings

Northern Oil and Gas reported revenue of about $1.93 billion, though it experienced a revenue decline of 7.1%. The company is not currently profitable, with a negative net margin of -32.36% and ROE of -29.77%. The next earnings release is expected on August 6, 2026.

Dividend

Northern Oil and Gas pays an annual dividend of $1.80 per share, yielding 9.02% based on its current price. The dividend payout ratio stands at 4.62%.

Insider Buying and Selling at Northern Oil and Gas, Inc.

On March 16, 2026, several insiders engaged in stock transactions. Adam Dirlam, President, acquired 36,241 shares, while CFO Chad Allen bought 13,850 shares. Meanwhile, CEO Nicholas O'Grady and Chief Technical Officer James Evans each sold shares at an average price of $27.51.

Analysts Set New Price Targets

On June 15, 2026, Raymond James maintained its buy rating on Northern Oil and Gas with a $30 price target. Morgan Stanley recently maintained a sell rating with a $29 target on May 22, 2026. The consensus among analysts remains positive, with a mean target price of $33.67 across nine opinions.

About Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. is an energy company focused on acquiring, exploring, and developing crude oil and natural gas properties in the United States. Founded in 2006, the company is headquartered in Minnetonka, Minnesota, and is led by CEO Nicholas L. O'Grady. With around 64 employees, Northern Oil and Gas operates in the Oil & Gas Exploration and Production industry.

Bottom Line

Raymond James's reiterated buy rating on Northern Oil and Gas highlights continued confidence in the company's prospects. While the stock currently trades below the target at $20.79, the analyst's outlook suggests potential growth. Investors often track such ratings and insider activities for insights, though it's important to remember that 13F filings and analyst ratings reflect past positions and opinions.