Analyst Reduces Northern Oil and Gas (NOG) Price Target to $24

Sultan Khalid

Fri, February 20, 2026 at 1:03 AM GMT+9 1 min read

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Northern Oil and Gas, Inc. (NYSE:NOG) is included among the 12 Best Crude Oil Stocks to Buy as Tensions Rise.

Analyst Reduces Northern Oil and Gas (NOG) Price Target to $24

Northern Oil and Gas, Inc. (NYSE:NOG) is the largest publicly traded, non-operated upstream energy asset owner in the United States, engaged in the acquisition, exploration, development, and production of oil and natural gas properties.

On January 23, Morgan Stanley lowered the firm’s price target on Northern Oil and Gas, Inc. (NYSE:NOG) from $26 to $24, but maintained its ‘Underweight’ rating on the shares. The firm updated its 2026-27 oil price forecasts as of January 7, in conjunction with its Q4 preview for E&Ps, oil majors, and Canadian producers. The analyst expects the Q4 operational updates to be ‘fairly clean’, while it projects lighter cash flow from price realizations.

Earlier on January 21, Mizuho also slightly reduced its price target on Northern Oil and Gas, Inc. (NYSE:NOG) from $30 to $29, while keeping an ‘Outperform’ rating on the shares. The revised target, which still indicates an upside of over 13% from current levels, is part of the firm’s Q4 preview. The analyst cited wider natural gas differentials as the reason for the lowered target, but noted that NOG should see some stabilization in activity this year.

While we acknowledge the potential of NOG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 High Yield Utility Stocks to Buy in 2026 and 10 Best American Oil and Gas Stocks to Buy.

Disclosure: None.

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