Northern Oil and Gas, Inc. NOG

23.29 (0.31) (1.31%) as of 25 Sep
Market cap
$2.5B
P/E
0.0×
Growth Flags show if company had growth for consecutive years,
Insider Buys alert about insiders buying in the last 12 month

Insider Decisions

Total buys 1.10
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — 1 — — — — — 1 — — —
Sell — — — — — — — — — — — —
Insider Ownership 2.28%

Capital & Financial Ratios

Market Cap 2,510.00
Revenue 1,917.08
Net Income (486.02)
Free Cash Flow (294.16)
Net Debt 2,646.30
Current Ratio 0.80
Debt/Equity 1.37
P/E ratio 0.00
P/S ratio 1.29
P/B ratio 1.24
Past 5Y EPS Growth 10.56%
This Y EPS Growth (14.04%)
Next Y EPS Growth (1.74%)
Next 5Y EPS Growth (5.22%)
in millions of $

Dividends

Payout Ratio 0.09
Annual Dividend Rate 1.52
Annual Dividend Yield 4.49%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.79
0.45
0.45
0.45
2025 1.80
0.45
0.45
0.45
0.45
2024 1.64
0.40
0.40
0.42
0.42
2023 1.49
0.34
0.37
0.38
0.40
2022 0.88
0.14
0.19
0.25
0.30
2021 0.16
0.03
0.05
0.08
2020 Powerpack
2019 Powerpack
2018 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 84 55 181 79
Receivables 374 428 368 396
Inventory — — — —
Other 49 12 30 31
509 501 586 502
2023 2024 2025 Q'26
Payables 193 203 219 206
ST’ Debt — — — —
Other 19 25 4 25
386 544 539 630
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 24.57% 35.00% 16.38%
Cash Flow 19.81% 35.33% 17.48%
Earnings 0.00% 0.00% (62.37%)
Book Value 0.00% 0.00% 41.83%

Revenue

Mar Jun Sep Dec Year
’26 5 745 — — —
’25 602 707 557 610 2,476
’24 396 561 754 515 2,226
’23 582 477 314 794 2,166
’22 (33) 441 792 370 1,571
’21 21 25 132 319 497
’20 507 (52) 47 50 552
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 324 322 — — —
’25 407 362 423 313 1,505
’24 392 340 386 290 1,409
’23 269 308 264 342 1,183
’22 154 210 277 287 928
’21 63 106 94 133 396
’20 101 102 56 73 332
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (311) (58) — — —
’25 143 35 71 5 253
’24 (15) 117 4 (372) (266)
’23 (192) (65) (386) (36) (679)
’22 (264) 99 (24) (242) (431)
’21 28 (63) (66) (96) (197)
’20 (4) 16 (3) 38 48
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 (5.31) 2.19 — — —
’25 1.39 1.00 (1.33) (0.73) 0.39
’24 0.11 1.36 2.96 0.71 5.14
’23 3.98 1.88 0.28 3.90 10.03
’22 (2.92) 2.74 6.77 1.63 8.92
’21 (1.73) (1.55) 0.13 2.13 (0.13)
’20 7.40 (21.70) (5.44) (3.21) (21.55)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
15.50 6.30 14.70 14.10 3.35 8.58 20.02 25.56 31.13 19.88

Analyst estimates 2026–2028

Powerpack
Low Price
58.50 40.00 44.90 29.40 23.60 27.87 39.10 43.64 44.31 42.35
High Price
19 18 20 24 25 25 33 38 49 64
Employees
8 12 34 20 22 20 48 57 45 39
Revenue/Emp
145 209 679 472 552 497 1,571 2,166 2,226 2,476
Revenue
57.77% 66.40% 83.51% 62.60% 73.54% 50.14% 73.33% 76.59% 73.63% 75.56%
Gross Margin
(295) (11) 144 (76) (906) 7 776 1,001 681 63
EBT
(203.51%) (5.14%) 21.16% (16.16%) (164.11%) 1.33% 49.43% 46.20% 30.59% 2.53%
EBT Margin
(293) (9) 144 (76) (906) 6 773 923 520 39
Net Income
66 64 124 213 166 144 254 493 749 823
Depreciation
23.69 33.54 28.74 12.20 12.92 7.89 19.99 23.68 22.29 25.34
Revenue/Sh
(48.00) (1.50) 6.10 (2.00) (21.55) (0.13) 9.26 10.09 5.21 0.40
Earnings/Sh
16.66 11.69 10.34 8.78 7.76 6.29 11.82 12.93 14.11 15.41
Cash Flow/Sh
(14.87) (19.11) (20.09) (14.70) (6.64) (9.43) (17.31) (20.36) (16.77) (12.82)
Capex/Sh
1.79 (7.41) (9.75) (5.93) 1.12 (3.13) (5.49) (7.42) (2.66) 2.59
Free CF/Sh
(79.68) (78.65) 18.20 14.43 (5.22) 3.42 9.49 22.38 23.24 21.76
Book Value/Sh
6 6 24 39 43 63 79 91 100 98
Shares
0.00 0.00 3.69 0.00 0.00 0.00 3.16 3.65 7.12 58.03
PE Ratio
1.22 0.76 0.79 1.92 0.68 2.61 1.45 1.56 1.67 0.85
PS Ratio
0.00 0.00 1.24 1.62 0.00 6.03 3.06 1.65 1.60 0.99
PB Ratio
6.93 5.69 2.06 4.57 2.29 4.33 2.44 2.39 2.74 1.77
EV/Sales
91.84 (25.73) (6.08) (9.40) 26.52 (10.91) (8.88) (7.64) (22.88) 17.31
EV/FCF
102 73 244 340 332 396 928 1,183 1,409 1,505
Op' Cash Flow
(91) (119) (475) (569) (284) (594) (1,360) (1,862) (1,675) (1,252)
Capex
11 (46) (230) (229) 48 (197) (431) (679) (266) 253
FCF
(31) 29 (3) (70) (57) (112) (24) 124 (44) 47
Working Cap'
833 979 830 1,118 945 803 1,525 1,836 2,369 2,395
Total Debt
826 877 712 1,096 892 791 1,488 1,752 2,314 2,214
Net Debt
(487) (491) 430 559 (223) 215 745 2,048 2,320 2,126
Sh' Equity
(50.91%) (1.73%) 13.45% (4.54%) (66.34%) (0.70%) 33.09% 25.08% 10.32% 0.70%
ROA
(42.31%) 9.79% 23.68% 2.10% (78.61%) 4.84% 23.88% 18.46% 11.30% 3.54%
ROIC
85.69% 1.88% (471.30%) (15.65%) (549.48%) 205.53% 151.54% 66.09% 23.82% 1.74%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 23 Sep 2026

Northern Oil and Gas, Inc. peers in Oil & Gas E&P

All 73 Oil & Gas E&P stocks →

Northern Oil and Gas, Inc. (NOG) key facts

  • Northern Oil and Gas, Inc. (NOG) is an Oil & Gas E&P company in the Energy sector, listed on the New York Stock Exchange.
  • Northern Oil and Gas, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 11.2% from fiscal 2024.
  • As of September 25, 2026, NOG traded at $23.29, a market capitalization of $2.5 billion.
  • Northern Oil and Gas, Inc. pays an annual dividend of $1.52 per share, a yield of 4.49%, with a payout ratio of 8.65%.
  • Return on equity was 1.74% and debt-to-equity 1.37.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Sep 23, 2026.

Northern Oil and Gas, Inc. (NOG) Latest News

News by impact score

Fine-tune

4 Sep

3

Northern Oil and Gas, Inc. issues an update on its ongoing consent solicitation and tender offer. Consent solicitation and tender offer updates can alter capital structure and near-term financing costs.

27 Aug

3

NOG stock has gained 89% but remains reasonably valued according to current performance metrics and market positioning. Stock valuation commentary after large price rise can moderately affect near-term investor sentiment toward NOG.

26 Aug

3

Northern Oil and Gas issued $500 million in notes. The financing prompts reassessment of whether the stock's bull case remains undervalued. The notes issuance shifts NOG's debt load and capital allocation options.

19 Aug

3

NOG priced a $500 million private offering of senior notes. The $500 million senior notes issuance supplies fresh capital that may support operations or acquisitions without fundamentally shifting company trajectory.

3

Northern Oil and Gas faces commodity and leverage risks despite low valuation, questioning its buy status. Commodity and leverage risks combined with valuation analysis can moderately influence NOG investor sentiment and stock trajectory.

3

Northern Oil and Gas, Inc. proposes a $500 million private offering of senior notes. The $500 million senior notes offering will alter Northern Oil and Gas capital structure and provide substantial liquidity.

18 Aug

3

Northern Oil and Gas updates transaction details and supplements its tender offer memorandum. Tender offer updates can shift capital structure and near-term shareholder positions.

15 Aug

3

Northern Oil and Gas addressed top analyst questions in its Q2 earnings call on financial results, operations, and strategy. Earnings call questions can reveal analyst concerns that moderately shape near-term investor sentiment and operational focus.

13 Aug

4 transcript

Northern Oil and Gas (NOG) held its Q2 2026 earnings call covering financial results, production metrics, and forward guidance. Q2 2026 earnings figures and guidance directly shift revenue outlook and investor positioning for NOG.

11 Aug

3

Northern Oil and Gas reported positive Q2 results driven by diversified asset strategy and shareholder returns. Q2 results reflect diversified assets and returns focus that moderately influence financial performance and investor views.

8 Aug

3

Northern Oil and Gas earnings lifted investor sentiment and prompted questions on whether the stock trades as a bargain at current prices. Recent earnings directly affect near-term financial perception and stock valuation for Northern Oil and Gas.

3

Northern Oil and Gas reported Q2 production volumes, revenue, and operational metrics during its earnings call. Quarterly earnings updates provide financial details that moderately influence near-term stock performance.

3

Northern Oil and Gas beat Q2 estimates driven by record gas production. Earnings beat with record production points to stronger financial results and operational gains.

7 Aug

4 transcript

Northern Oil & Gas Inc (NOG) reported record volumes in its Q2 2026 earnings call. Record volumes signal strong production growth that can significantly lift revenues and market position.

4 transcript

Northern Oil and Gas, Inc. held its Q2 2026 earnings call, detailing financial results, operational updates, and forward guidance for the company. Q2 earnings call details directly shape near-term valuation and investor positioning for NOG.

6 Aug

3

Northern Oil and Gas reported Q2 earnings with analysis of key financial metrics. Q2 earnings and metrics analysis can shift investor views on near-term results.

3

Northern Oil and Gas (NOG) Q2 earnings and revenues surpassed estimates. Q2 earnings beat lifts near-term sentiment for NOG but leaves core trajectory unchanged.

3

Northern Oil and Gas’s Q2 CY2026 sales exceeded analyst estimates. Quarterly sales beat provides moderate positive signal for near-term performance and sentiment.

3

Northern Oil and Gas, Inc. announced its second quarter 2026 financial results. Quarterly results deliver performance data that can shift market views on company value.

16 Jul

3

Northern Oil and Gas reported Q1 earnings, positioned against other U.S. shale E&P stocks. Q1 earnings results shape NOG performance perception versus shale peers.

13 Jul

3

Northern Oil and Gas, Inc. issued a second quarter operational update covering production activity and development progress. Quarterly operational updates supply production metrics that can shift near-term financial expectations and investor views.

10 Jul

4

Northern Oil and Gas completed a Duvernay deal that positions the company as potentially 48% undervalued based on updated valuation metrics. Duvernay deal marks major strategic expansion with potential to significantly boost reserves and production outlook.

10 Jun

3

Northern Oil and Gas and HighPeak Energy shares surge higher. Share price gains signal improved near-term market sentiment for Northern Oil and Gas but lack details on operational or strategic changes.

31 May

4

Northern Oil and Gas raised its 2026 output outlook after posting strong Q1 results and completing new acquisitions. Raised 2026 production guidance plus new acquisitions indicate major expansion in output and asset base.

28 May

4

NOG acquires Duvernay assets from Parallax, entering the Canadian market. Duvernay acquisition represents major strategic expansion into Canada with potential to alter NOG growth trajectory.

27 May

4

NOG acquires 25% Duvernay light oil stake for $253 million. Major acquisition expands NOG light oil asset base and production potential.

26 May

4

Northern Oil and Gas, Inc. (NOG) acquires 25% stake in Alberta Assets. Acquisition expands NOG resource base and operational footprint in a key region.

4

Northern Oil and Gas acquires 25% undivided stake in Canadian Duvernay light oil assets, marking entry into Canada via long-term joint development agreement. Acquisition expands NOG into Canadian light oil assets with joint development upside.

18 May

3

Northern Oil and Gas (NOG) is singled out as a Russell 2000 stock worth investigating for its operational strength and energy-sector positioning, while two other unnamed companies in the index are questioned over weaker fundamentals and limited upside. Positive mention as a stock worth investigating can lift near-term investor attention and trading volume for NOG but stops short of major strategic or financial changes.

16 May

3

Northern Oil and Gas sustains its dividend payments despite margin pressures, pointing to company resilience and implications for shareholder returns amid ongoing operational challenges. Dividend continuity amid margin pressure signals moderate effects on financial stability and near-term investor sentiment without major trajectory shifts.

stockrow.com/NOG · Data as of Sep 23, 2026 · For information only; not investment advice. · © 2026 stockrow.com