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 |
|---|---|---|---|
| 2/21/2025 | Overweight → Equal Weight | CapitalOne | |
| 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 |
FOURTH QUARTER HIGHLIGHTS Production of 131,777 Boe per day (59.9% oil), a 15% increase from the fourth quarter of the prior year GAAP cash flow from operations of $290.3 million. Excluding changes in net working capital, cash flow from operations was $358.9 million Capital expenditures of $258.9 million, excluding previously-announced non-budgeted acquisitions and other items Free Cash Flow (non-GAAP) was $96.4 million in the fourth quarter. See "Non-GAAP Financial Measures" below Closed previously announced acquisition of Uinta Basin assets from XCL Resources, LLC ("XCL") on October 1, 2024 for $511.3 million in cash Declared $0.45 per share common dividend for the first quart
Northern Oil and Gas, Inc. (NYSE:NOG) (the "Company" or "NOG") today announced a fourth quarter 2024 operations update and is providing initial 2025 capital and production guidance. HIGHLIGHTS Production estimated to have been 131.0 – 132.0 MBoe per day for the fourth quarter, putting NOG toward the high end of annual total production guidance Significant elective Ground Game and leasehold acquisitions totaling $27 million in the fourth quarter Fourth quarter capital expenditures, excluding non-budgeted transactions, estimated to be $231 – $232 million Initial 2025 production guidance of 130.0 – 135.0 Mboe per day 2025 capital budget of $1.05 to $1.20 billion to support inc
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") declared its first quarter common stock dividend and provided an update regarding fourth quarter share repurchases. DIVIDEND DECLARATION NOG's Board of Directors has declared a cash dividend in the amount of $0.45 per share for the first quarter of 2025, representing a 12.5% increase year over year and a 7% increase from the prior quarter. The dividend is payable on April 30, 2025, to stockholders of record as of the close of business on March 28, 2025. 2025 DIVIDEND PLAN As previously stated, NOG sets dividend policy once per year, no later than the declaration date for the first quarter dividend of any given calendar y
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") announced today that it plans to issue its fourth quarter and year-end 2024 financial and operating results on Wednesday, February 19, 2025, after the market closes. Additionally, the Company will host a conference call on Thursday, February 20, 2025, 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: February 20, 2025 Time: 8:00 a.m. Central Time Dial-In: (800) 715-9871 International Dial-In: (646) 307-1963 Conference ID: 4503139 W
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
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)
CapitalOne downgraded Northern Oil & Gas from Overweight to Equal Weight
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
FOURTH QUARTER HIGHLIGHTS Production of 131,777 Boe per day (59.9% oil), a 15% increase from the fourth quarter of the prior year GAAP cash flow from operations of $290.3 million. Excluding changes in net working capital, cash flow from operations was $358.9 million Capital expenditures of $258.9 million, excluding previously-announced non-budgeted acquisitions and other items Free Cash Flow (non-GAAP) was $96.4 million in the fourth quarter. See "Non-GAAP Financial Measures" below Closed previously announced acquisition of Uinta Basin assets from XCL Resources, LLC ("XCL") on October 1, 2024 for $511.3 million in cash Declared $0.45 per share common dividend for the first quart
Northern Oil and Gas, Inc. (NYSE:NOG) (the "Company" or "NOG") today announced a fourth quarter 2024 operations update and is providing initial 2025 capital and production guidance. HIGHLIGHTS Production estimated to have been 131.0 – 132.0 MBoe per day for the fourth quarter, putting NOG toward the high end of annual total production guidance Significant elective Ground Game and leasehold acquisitions totaling $27 million in the fourth quarter Fourth quarter capital expenditures, excluding non-budgeted transactions, estimated to be $231 – $232 million Initial 2025 production guidance of 130.0 – 135.0 Mboe per day 2025 capital budget of $1.05 to $1.20 billion to support inc
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") declared its first quarter common stock dividend and provided an update regarding fourth quarter share repurchases. DIVIDEND DECLARATION NOG's Board of Directors has declared a cash dividend in the amount of $0.45 per share for the first quarter of 2025, representing a 12.5% increase year over year and a 7% increase from the prior quarter. The dividend is payable on April 30, 2025, to stockholders of record as of the close of business on March 28, 2025. 2025 DIVIDEND PLAN As previously stated, NOG sets dividend policy once per year, no later than the declaration date for the first quarter dividend of any given calendar y
Northern Oil and Gas, Inc. (NYSE:NOG) ("NOG" or the "Company") announced today that it plans to issue its fourth quarter and year-end 2024 financial and operating results on Wednesday, February 19, 2025, after the market closes. Additionally, the Company will host a conference call on Thursday, February 20, 2025, 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: February 20, 2025 Time: 8:00 a.m. Central Time Dial-In: (800) 715-9871 International Dial-In: (646) 307-1963 Conference ID: 4503139 W
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
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8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
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8-K - NORTHERN OIL & GAS, INC. (0001104485) (Filer)
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)