Northern Oil and Gas, Inc. (NOG)

Northern Oil and Gas Stock Forecast

Stock Price Forecast

The 7 analysts that cover Northern Oil and Gas stock have a consensus rating of "Buy" and an average price target of $31, which forecasts a 38.70% increase in the stock price over the next year. The lowest target is $25 and the highest is $38.

Price Target: $31 (+38.70%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$25	$31	$33	$38
Change	+11.86%	+38.70%	+47.65%	+70.02%

Analyst Ratings

The average analyst rating for Northern Oil and Gas stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	May '25	Jun '25	Jul '25	Aug '25	Sep '25	Oct '25
Strong Buy	4	4	4	3	3	3
Buy	0	0	0	1	1	1
Hold	4	4	4	3	3	3
Sell	0	0	0	1	1	1
Strong Sell	0	0	0	0	0	0
Total	8	8	8	8	8	8

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Devin McDermott Morgan Stanley	Morgan Stanley	Sell Maintains $27 → $26	Sell	Maintains	$27 → $26	+16.33%	Oct 14, 2025
William Janela Mizuho	Mizuho	Hold Maintains $32 → $28	Hold	Maintains	$32 → $28	+25.28%	Sep 15, 2025
Neal Dingmann William Blair	William Blair	Buy Initiates n/a	Buy	Initiates	n/a	n/a	Aug 25, 2025
John Freeman Raymond James	Raymond James	Strong Buy Maintains $36 → $34	Strong Buy	Maintains	$36 → $34	+52.13%	Aug 21, 2025
Devin McDermott Morgan Stanley	Morgan Stanley	Hold → Sell Downgrades $29 → $27	Hold → Sell	Downgrades	$29 → $27	+20.81%	Aug 18, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

2.38B

Increased by 18.65%

from 2.01B

Revenue Next Year

2.08B

Decreased by -12.73%

from 2.38B

EPS This Year

4.62

Decreased by -10.07%

from 5.14

EPS Next Year

3.19

Decreased by -30.90%

from 4.62

Fiscal Year	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	294.29M	898.14M	1.83B	1.75B	2.01B	2.38B	2.08B
Revenue Growth	-45.85%	205.19%	103.49%	-4.42%	14.87%	18.65%	-12.73%
EPS	-21.55	-0.13	8.92	10.03	5.14	4.62	3.19
EPS Growth	-	-	-	12.43%	-48.75%	-10.07%	-30.90%
Forward PE	-	-	-	-	-	4.83	7.00
No. Analysts	-	-	-	-	-	12	12

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2025	2026	2027	2028	2029
High	2.6B	2.3B
Avg	2.4B	2.1B
Low	2.2B	1.8B

Revenue Growth

Revenue Growth	2025	2026	2027	2028	2029
High	28.1%	-1.9%
Avg	18.7%	-12.7%
Low	11.5%	-25.2%

EPS Forecast

EPS	2025	2026	2027	2028	2029
High	5.18	4.02
Avg	4.62	3.19
Low	4.11	2.19

EPS Growth

EPS Growth	2025	2026	2027	2028	2029
High	0.7%	-13.0%
Avg	-10.1%	-30.9%
Low	-20.0%	-52.7%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.