Northern Oil and Gas Ramps Up Share Repurchases, Keeps 2026 Production Forecast Intact
Northern Oil and Gas, Inc. (NYSE: NOG ) stock rose in Monday’s premarket session after the company reaffirmed its 2026 production and capital spending guidance and raised its share repurchase authorization to about $243 million. Buybacks And Guidance NOG repurchased 2.95 million shares in the second quarter, or about 3% of shares outstanding, at an average price of $20.37. The board later increased the repurchase authorization by $150 million, bringing total remaining capacity to roughly $243 million. The company expects second-quarter oil production of 67.5 Mboe to 68.25 Mboe per day and record natural gas volumes despite Permian curtailments. Production And Spending About 7,000 Boe per day was temporarily shut in due to weak Waha pricing, while roughly three net wells were deferred to the third quarter. Williston and Uinta production exceeded internal expectations by 4% and 11...
Northern Oil and Gas, Inc. (NYSE: NOG ) stock rose in Monday’s premarket session after the company reaffirmed its 2026 production and capital spending guidance and raised its share repurchase authorization to about $243 million. 37. The board later increased the repurchase authorization by $150 million, bringing total remaining capacity to roughly $243 million.
25 Mboe per day and record natural gas volumes despite Permian curtailments. Production And Spending About 7,000 Boe per day was temporarily shut in due to weak Waha pricing, while roughly three net wells were deferred to the third quarter. 5%, respectively. Second-quarter capital spending is expected to be $190 million to $200 million.
2 net wells for about $45 million. 7 million shares. NOG estimated unrealized derivative gains of $155 million to $160 million and realized hedge losses of $85 million to $90 million. 24.
Those levels may act as near-term resistance. The longer-term trend remains weak. 86. The stock also remains below a bearish “death cross” that formed in June.
That signal appeared when the 50-day moving average fell below the 200-day moving average. However, momentum is improving. The MACD remains above its signal line, which suggests selling pressure has eased. It also indicates buyers are gaining some control.
The next key technical level to watch is $20. Earnings And Analyst Outlook The company is scheduled to report its second-quarter results on Aug. 6. 37 a year earlier.
81 million in the year-ago quarter. 57. Recent analyst actions include: Morgan Stanley maintained Underweight and lowered its price forecast to $25 on June 29. Raymond James maintained Outperform and lowered its price forecast to $30 on June 15.
Morgan Stanley maintained Underweight and raised its price forecast to $29 on May 22. 00 during premarket trading on Monday, according to Pro data. Photo via Shutterstock Read Also: Oil Stocks Trade As If Iran War Never Happened: 10 Falling Knives To Watch