Raymond James Downgrades Northern Oil and Gas Amid Near-Term Hedge Headwinds

Northern Oil and Gas (NOG) was downgraded by Raymond James from Strong Buy to Outperform with a reduced price target of $35, citing near-term hedge headwinds. The stock fell 1.4% in Thursday trading as the firm noted that approximately 70% of its oil production is hedged.

By Carl Surran, SA News Editor · Seeking Alpha · May 21, 2026, 19:23 UTC

Raymond James Downgrades Northern Oil and Gas Amid Near-Term Hedge Headwinds

Tickers: $NOG $RJF

Topics: Northern Oil and Gas Raymond James stock downgrade

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