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.
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