5 Oil Stocks with Highest Dividends

In this article, we will take a look at the 5 Oil Stocks with Highest Dividends. For a deeper discussion and an extended list, please see the 13 Oil Stocks with Highest Dividends.

5. Northern Oil and Gas, Inc. (NYSE:NOG) 

Dividend Yield as of March 18: 6.56%

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

On March 17, Mizuho bumped its price target on Northern Oil and Gas, Inc. (NYSE:NOG) from $28 to $31, but maintained its ‘Neutral’ rating on the shares. The revised target indicates an upside of over 13% from the current levels.

The adjustment comes as the analyst firm raised its 2026 oil price outlook by 14% to $73.25 per barrel amid the US-Iran war. Mizuho acknowledged that while it is still too early to decide whether the ongoing supply disruptions will actually raise the structural price of global oil, the bias is likely higher. Overall, the analyst firm remains optimistic regarding the oil and gas industry.

That said, while the analyst firm noted that natural gas fundamentals remain constructive, it reduced its 2026 price outlook on the commodity by 6%.

The share price of Northern Oil and Gas, Inc. (NYSE:NOG) has surged by over 24% since the beginning of 2026.