Northern Oil and Gas falls on $200 mln stock offering launch

Northern Oil and Gas

11/03/2026 20:30

** Northern Oil and Gas NOG.N shares down 6.8% post-market to $26.65 as it looks to raise equity

** Co focused on acquiring, developing and producing non-operated, minority working and mineral interests in oil and natural gas properties commences $200 mln stock offering

** Intends to use net offering proceeds for general corporate purposes, including paying down its revolving credit facility

** BofA sole bookrunner

** Minnetonka, Minnesota-based firm has ~97.3 mln shares outstanding for $2.8 bln market cap

** NOG stock closed up 3.9% at $28.59 on Weds, up 33% YTD

** Of 11 analysts covering the stock, recommendation breakdown is 6 "strong buy" or "buy", 4 "hold", 1 "sell"; median PT $31, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))