Northern Oil and Gas, Inc. (NYSE:NOG) is included among the 10 Fastest Growing Dividend Stocks to Buy Now.
On April 14, Citigroup lowered its price recommendation on Northern Oil and Gas, Inc. (NYSE:NOG) to $36 from $39. It reiterated a Buy rating on the shares. The firm updated its model ahead of the upcoming earnings report and pointed to geopolitical volatility as the reason for the lower target.
During the Q4 2025 earnings call, management outlined a two-case outlook for 2026. They said uncertainty around commodity prices continues to limit visibility. In a lower activity case, they expect a modest decline in oil volumes, along with a more meaningful pullback in spending. In a higher activity case, the company assumes a pickup in operations, fewer curtailments than in prior periods, and a higher TIL count.
CEO Nicholas O’Grady said the guidance reflects current market conditions. He added that capital deployment on the ground would focus on positioning the business for what he described as “coiled spring growth,” similar to the setup seen in 2021. President Adam Dirlam said activity in 2026 is expected to be spread across regions. He noted that about 40% would come from the Permian, 25% from Appalachia, 25% from the Williston, and 10% from the Uinta. He also said well activity should be fairly even throughout the year, while spending is expected to be weighted toward the first half on roughly a 60-40 basis.
Northern Oil and Gas, Inc. (NYSE:NOG) focuses on acquiring and investing in non-operated minority working and mineral interests in hydrocarbon-producing basins. The company participates as a non-operator in the acquisition, exploration, development, and production of oil and natural gas properties across the United States, primarily in the Williston, Permian, Appalachian, and Uinta basins.
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