Northern Oil and Gas Shares to Perform In-line With Peers Over Next Year, RBC Says

MT Newswires Live12-19 19:55

Northern Oil and Gas (NOG) shares should perform in line with its peers over the next 12 months, RBC Capital Markets analysts said in a Thursday note.

Analysts said that, considering volatility in recent commodity prices and a highly competitive mergers and acquisitions market, they expect the company to focus more on stabilizing its balance sheet.

RBC raised Northern Oil and Gas' earnings estimates to reflect the company's updated hedge book after its recent announcement on the acquisition of Utica assets, expected to close in early 2026.

Analysts increased the company's 2026 earnings per share estimate to $2.47 from $2.40 and the 2027 estimate to $2.40 from $2.39.

RBC has a sector perform rating and a $33 price target on the stock.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment