Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana. As of December 31, 2020, it owned working interests in 6,640 gross producing wells; and had proved reserves of 122,632 million barrels of oil equivalent. The company is based in Minnetonka, Minnesota.
IPO Year: 2022
Exchange: AMEX
Website: northernoil.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/16/2024 | $47.00 | Outperform → Neutral | Mizuho |
| 11/20/2024 | $43.00 → $45.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 10/3/2024 | $53.00 | Buy | Jefferies |
| 9/19/2024 | $47.00 | Outperform | Mizuho |
| 1/5/2024 | $39.00 | Buy → Underperform | BofA Securities |
| 1/5/2024 | $40.00 | Equal-Weight | Morgan Stanley |
| 12/14/2023 | Buy → Accumulate | Johnson Rice | |
| 8/14/2023 | $46.00 | Overweight → Neutral | Piper Sandler |
| 1/6/2023 | $38.00 | Neutral → Buy | BofA Securities |
| 10/19/2022 | $37.00 | Buy | Jefferies |
8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
10-Q - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
SD - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
10-Q - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
SC 13G - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
SC 13G/A - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
SC 13G/A - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
SC 13G/A - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
SC 13G - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
SC 13D/A - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
SC 13D/A - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
SC 13D/A - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
SC 13G/A - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
SC 13G/A - NORTHERN OIL & GAS, INC. (0001104485) (Subject)
Mizuho downgraded Northern Oil & Gas from Outperform to Neutral and set a new price target of $47.00
RBC Capital Mkts downgraded Northern Oil & Gas from Outperform to Sector Perform and set a new price target of $45.00 from $43.00 previously
Jefferies resumed coverage of Northern Oil & Gas with a rating of Buy and set a new price target of $53.00
Mizuho initiated coverage of Northern Oil & Gas with a rating of Outperform and set a new price target of $47.00
BofA Securities downgraded Northern Oil & Gas from Buy to Underperform and set a new price target of $39.00
Morgan Stanley initiated coverage of Northern Oil & Gas with a rating of Equal-Weight and set a new price target of $40.00
Johnson Rice downgraded Northern Oil & Gas from Buy to Accumulate
Piper Sandler downgraded Northern Oil & Gas from Overweight to Neutral and set a new price target of $46.00
BofA Securities upgraded Northern Oil & Gas from Neutral to Buy and set a new price target of $38.00
Jefferies initiated coverage of Northern Oil & Gas with a rating of Buy and set a new price target of $37.00
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
4 - NORTHERN OIL & GAS, INC. (0001104485) (Issuer)
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") has a policy on not responding to acquisition rumors, however the Company believes that today's article regarding NOG's potential acquisition of Granite Ridge Resources ("Granite Ridge") requires a response. As the largest publicly traded dedicated non-operator, NOG has a large pipeline of acquisition opportunities and the Company frequently sends expressions of interest to acquire assets or businesses in order to evaluate and conduct due diligence on potential opportunities. Many of these requests to conduct diligence are rejected. The Company is not currently engaged in formal negotiations to acquire Granite Ridge. ABOUT N
HIGHLIGHTS Joint development program with existing Appalachian operator. NOG capital commitment not expected to exceed $160 million, for a 15% working interest at an average net revenue interest of 84% in the program Program to cover operator's Appalachia drilling activities in calendar year 2025 Adds accretive natural gas development in Appalachia with strong visibility and surety of development Northern Oil and Gas, Inc. (NYSE:NOG) (the "Company" or "NOG") today announced that it has entered a Joint Development Program with one of Appalachia's most capital efficient operators. The program, which covers drilling activities in calendar year 2025, requires a capital commitment fr
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") today announced that its Board of Directors has declared a cash dividend on the Company's common stock. The Company also announced its current plan with respect to quarterly dividends for 2025. DIVIDEND DECLARATION NOG's Board of Directors has declared a cash dividend in the amount of $0.42 per share, representing a 5% increase from the prior year's quarterly dividend and the same level as the previous quarter. The dividend is payable on January 31, 2025, to stockholders of record as of the close of business on December 30, 2024. 2025 DIVIDEND PLAN As previously stated, NOG plans to set dividend policy once per year, no
THIRD QUARTER HIGHLIGHTS Production of 121,815 Boe per day (58% oil), up 19% from the third quarter of 2023 Record oil volumes of 70,913 Bbl per day, despite only 9.5 net turn-in-lines during the quarter GAAP net income of $298.4 million, Adjusted Net Income of $141.1 million and Adjusted EBITDA of $412.4 million. See "Non-GAAP Financial Measures" below Cash flow from operations of $385.8 million. Excluding changes in net working capital, cash flow from operations was $377.1 million, an increase of 9% from the third quarter of 2023, up 1% from the second quarter of 2024 Generated record $177.1 million of Free Cash Flow, up 32% from the second quarter of 2024. See "Non-GAAP Financi
Northern Oil and Gas, Inc. (NYSE:NOG) (the "Company" or "NOG") today announced a third quarter 2024 operations update. THIRD QUARTER HIGHLIGHTS Production estimated to be 121.6 – 121.8 MBoe per day Oil volumes estimated to have increased quarter-over-quarter to record levels despite a lower 9.5 net wells turned-in-line ("TIL") Strong AFE and spud activity drove growth in D&C list to 52.2 net wells-in-process Repurchased 397,301 shares of common stock for $36.38 per share Provides hedging update Reiterates 2024 annual production guidance and capital expenditure guidance THIRD QUARTER OPERATIONAL UPDATE Production volumes in the third quarter of 2024 are estimated to have aver
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") announced today that it plans to issue its third quarter 2024 financial and operating results on Tuesday, November 5, 2024, after the market closes. Additionally, the Company will host a conference call on Wednesday, November 6, 2024, at 8:00 a.m. Central Time. Those wishing to listen to the conference call may do so via phone or the Company's webcast. Conference Call and Webcast Details: Date: November 6, 2024 Time: 8:00 a.m. Central Time Dial-In: (800) 715-9871 International Dial-In: (646) 307-1963 Conference ID: 4503139 Webcast: Third Quarter 2024 Earnings Conference Call
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG") closed its previously announced acquisition of Uinta Basin assets from XCL Resources, LLC ("XCL") on October 1, 2024. The closing included the assets previously owned by Altamont Energy, LLC ("Altamont"). These transactions provide NOG with over a decade of Tier 1 inventory across ~15,800 net acres in the Uinta Basin with ~116 net underwritten undeveloped locations and additional exploration upside potential. NOG jointly acquired the assets with SM Energy, Inc. ("SM"), which will become the operator of substantially all the assets. In connection with the transaction, NOG and SM entered into cooperation and long-term joint development agreements
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG") closed its previously announced acquisition of Delaware Basin assets from Point Energy Partners, LLC ("Point"), a Vortus Investments company, on September 20, 2024. NOG jointly acquired the assets with Vital Energy, Inc. ("Vital"), which will become the operator of substantially all the assets. In connection with the transaction, NOG and Vital entered into cooperation and joint operating agreements, which include a multi-year development plan for the Point assets. At closing, NOG paid $205.0 million in cash, which includes a $22.0 million deposit paid at signing in July 2024. The closing settlement is net of preliminary and customary purchase
HIGHLIGHTS NOG and SM Energy Company ("SM") exercised option to jointly acquire additional Uinta Basin assets adjacent to the XCL Resources, LLC asset acquisition, which were previously owned by Altamont Energy LLC (the "Altamont Assets") NOG to acquire a 20% undivided stake in the Altamont Assets (the "Acquired Assets") for an unadjusted purchase price of $17.5 million in cash (all data below is net to NOG) Expands Uinta footprint by ~6,500 net acres, located primarily in Duchesne and Uintah Counties, UT Transaction to close simultaneously with the close of the XCL asset acquisition NOG's total Uinta net acreage to increase to ~15,800 with ~116 net underwritten undeveloped l
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") today announced that its Board of Directors has declared a cash dividend on the Company's common stock. DIVIDEND DECLARATION NOG's Board of Directors has declared a cash dividend in the amount of $0.42 per share, representing an 11% increase year-over-year and 5% sequential increase from the prior quarterly dividend. The dividend is payable on October 31, 2024, to stockholders of record as of the close of business on September 27, 2024. FUTURE DIVIDEND PLANS The Company continues to anticipate reviewing and setting dividend policy during the first fiscal quarter of each year, with the potential for interim modifications
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") has a policy on not responding to acquisition rumors, however the Company believes that today's article regarding NOG's potential acquisition of Granite Ridge Resources ("Granite Ridge") requires a response. As the largest publicly traded dedicated non-operator, NOG has a large pipeline of acquisition opportunities and the Company frequently sends expressions of interest to acquire assets or businesses in order to evaluate and conduct due diligence on potential opportunities. Many of these requests to conduct diligence are rejected. The Company is not currently engaged in formal negotiations to acquire Granite Ridge. ABOUT N
HIGHLIGHTS Joint development program with existing Appalachian operator. NOG capital commitment not expected to exceed $160 million, for a 15% working interest at an average net revenue interest of 84% in the program Program to cover operator's Appalachia drilling activities in calendar year 2025 Adds accretive natural gas development in Appalachia with strong visibility and surety of development Northern Oil and Gas, Inc. (NYSE:NOG) (the "Company" or "NOG") today announced that it has entered a Joint Development Program with one of Appalachia's most capital efficient operators. The program, which covers drilling activities in calendar year 2025, requires a capital commitment fr
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") announced today that it published its Environmental, Social and Governance ("ESG") Report for the year ended December 31, 2023. NOG's ESG disclosure framework relies on the Sustainability Accounting Standards Board (SASB) Oil & Gas – Exploration & Production standard as well as the SASB Asset Management and Custody Activities standard. The Company believes that providing disclosures across these two standards best captures NOG's business model of owning and managing non-operated minority working and mineral interests. NOG's 2023 ESG Report is available on the Company's website under the Sustainability section. ABOUT NOG
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") today announced that its Board of Directors has declared a cash dividend on the Company's common stock. The Company also announced its current plan with respect to quarterly dividends for 2025. DIVIDEND DECLARATION NOG's Board of Directors has declared a cash dividend in the amount of $0.42 per share, representing a 5% increase from the prior year's quarterly dividend and the same level as the previous quarter. The dividend is payable on January 31, 2025, to stockholders of record as of the close of business on December 30, 2024. 2025 DIVIDEND PLAN As previously stated, NOG plans to set dividend policy once per year, no
THIRD QUARTER HIGHLIGHTS Production of 121,815 Boe per day (58% oil), up 19% from the third quarter of 2023 Record oil volumes of 70,913 Bbl per day, despite only 9.5 net turn-in-lines during the quarter GAAP net income of $298.4 million, Adjusted Net Income of $141.1 million and Adjusted EBITDA of $412.4 million. See "Non-GAAP Financial Measures" below Cash flow from operations of $385.8 million. Excluding changes in net working capital, cash flow from operations was $377.1 million, an increase of 9% from the third quarter of 2023, up 1% from the second quarter of 2024 Generated record $177.1 million of Free Cash Flow, up 32% from the second quarter of 2024. See "Non-GAAP Financi
Northern Oil and Gas, Inc. (NYSE:NOG) (the "Company" or "NOG") today announced a third quarter 2024 operations update. THIRD QUARTER HIGHLIGHTS Production estimated to be 121.6 – 121.8 MBoe per day Oil volumes estimated to have increased quarter-over-quarter to record levels despite a lower 9.5 net wells turned-in-line ("TIL") Strong AFE and spud activity drove growth in D&C list to 52.2 net wells-in-process Repurchased 397,301 shares of common stock for $36.38 per share Provides hedging update Reiterates 2024 annual production guidance and capital expenditure guidance THIRD QUARTER OPERATIONAL UPDATE Production volumes in the third quarter of 2024 are estimated to have aver
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") announced today that it plans to issue its third quarter 2024 financial and operating results on Tuesday, November 5, 2024, after the market closes. Additionally, the Company will host a conference call on Wednesday, November 6, 2024, at 8:00 a.m. Central Time. Those wishing to listen to the conference call may do so via phone or the Company's webcast. Conference Call and Webcast Details: Date: November 6, 2024 Time: 8:00 a.m. Central Time Dial-In: (800) 715-9871 International Dial-In: (646) 307-1963 Conference ID: 4503139 Webcast: Third Quarter 2024 Earnings Conference Call
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG") closed its previously announced acquisition of Uinta Basin assets from XCL Resources, LLC ("XCL") on October 1, 2024. The closing included the assets previously owned by Altamont Energy, LLC ("Altamont"). These transactions provide NOG with over a decade of Tier 1 inventory across ~15,800 net acres in the Uinta Basin with ~116 net underwritten undeveloped locations and additional exploration upside potential. NOG jointly acquired the assets with SM Energy, Inc. ("SM"), which will become the operator of substantially all the assets. In connection with the transaction, NOG and SM entered into cooperation and long-term joint development agreements
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG") closed its previously announced acquisition of Delaware Basin assets from Point Energy Partners, LLC ("Point"), a Vortus Investments company, on September 20, 2024. NOG jointly acquired the assets with Vital Energy, Inc. ("Vital"), which will become the operator of substantially all the assets. In connection with the transaction, NOG and Vital entered into cooperation and joint operating agreements, which include a multi-year development plan for the Point assets. At closing, NOG paid $205.0 million in cash, which includes a $22.0 million deposit paid at signing in July 2024. The closing settlement is net of preliminary and customary purchase
Point Energy Partners II ("Point Energy") today announced the completion of its previously announced $1.1 billion all cash sale of its assets to Vital Energy, Inc. (NYSE:VTLE) ("Vital") and Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG"). Point Energy is a portfolio company of Vortus Investments Advisors. Point Energy is proud to announce a significant milestone in its operational journey, having increased production from an initial 300 net barrels of oil equivalent per day (boepd) to over 40,000 net boepd over a span of six years. This impressive growth underscores Point Energy's commitment to innovation and excellence in the oil and gas sector. "This incredible achievement would not have