Northern Oil and Gas, Inc. (NYSE:NOG) was among the energy stocks that gained the most this week. In this article, we are going discuss why the stock surged 21.9% between May 7th and May 14th.Is Northern Oil and Gas, Inc. (NOG) the Underperforming Stock Targeted By Short Sellers?

An aerial view of an oil and gas platform in the middle of the ocean, representing the massive resources harvested by the company.

Northern Oil and Gas, Inc. (NYSE:NOG) is the largest, publicly traded, non-operated, upstream energy asset owner in the United States that engages in the acquisition, exploration, development, and production of oil and natural gas properties.

Northern Oil and Gas, Inc. (NYSE:NOG) received a boost this week after Raymond James upgraded the stock’s price target from $35 to $36, while reaffirming its Strong Buy rating.

NOG posted strong results for its Q1 2025 recently with record total quarterly production of 134,959 boe/d (58% oil), up 13% YoY. The company also managed to beat both profit and revenue estimates, while its free cash flow came in at $135.7 million, up 41% from the same quarter last year.

While we acknowledge the potential of NOG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than NOG and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.

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