Northern Oil and Gas, Inc. (NOG) Stock Price & Analysis
Northern Oil and Gas, Inc. (NOG) is trading at USD 28.42, up 0.96% today, as of October 28, 2026 at 18:49 UTC (US market open; quotes may be delayed), according to Nexqual market data.
NOG last closed at USD 28.15; today's session has ranged USD 28.14–28.51 on volume of 522,909 shares. Market capitalization is $3.03B, with a 52-week range of USD 17.18–31.17 (NYQ). Source: Nexqual, retrieved October 28, 2026 at 18:50 UTC.
Also available as compact Markdown for AI agents: nexqual.com/NOG.md
Key facts (NOG)
- Last four reported quarters (through Jun 30, 2026): revenue $1.92B, net income -$486M (-25.4% margin) (SEC filings).
- 1 of 80 tracked superinvestors hold NOG (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Hold (mean 2.60 on a 1–5 scale) (10 analysts), mean target USD 30.22 (range 26–35).
- Total return with dividends: 1Y +41.9% vs S&P 500 +13.6%; 5Y +57.3% vs S&P 500 +79.8%.
- Next earnings: 2026-11-05, EPS estimate USD 1.06, revenue estimate $606M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (NOG)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $975M | $1.99B | $2.17B | $2.23B | $2.48B | $1.92B |
| Gross profit | $804M | $1.73B | $1.82B | $1.80B | $2.00B | — |
| Operating income | $78.0M | $853M | $1.12B | $838M | $246M | -$462M |
| Net income | $6.4M | $773M | $923M | $520M | $38.8M | -$486M |
| EPS (diluted) | -$0.13 | $8.92 | $10.03 | $5.14 | $0.39 | — |
| Gross margin | 82.5% | 86.9% | 84.0% | 80.7% | 80.9% | — |
| Operating margin | 8.0% | 43.0% | 51.8% | 37.6% | 9.9% | -24.1% |
| Net margin | 0.7% | 38.9% | 42.6% | 23.4% | 1.6% | -25.4% |
| Revenue growth | +76.6% | +103.7% | +9.1% | +2.7% | +11.2% | — |
| Cash + short-term investments | $9.5M | $2.5M | $8.2M | $8.9M | $14.3M | — |
| Total debt | $803M | $1.53B | $1.84B | $2.37B | $2.40B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (NOG)
P/S 1.6x · EV/Sales 3.0x · P/B 1.5x · Earnings yield -16.05% · Dividend yield (paid, TTM) 5.92% · Buyback yield (TTM) 1.88% · Net debt $2.68B · EV $5.71B
P/E at fiscal year-ends: Dec 2025 55.0x, Dec 2024 7.2x, Dec 2023 3.7x.
Superinvestors (SEC 13F-HR, Q2 2026) (NOG)
1 of 80 tracked investors hold NOG. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Van Den Berg Management I | 0.16% | $776K | Added +1.0% |
Analysts (NOG)
Consensus Hold (mean 2.60 on a 1–5 scale), 10 analysts; mean target USD 30.22 (low 26, high 35).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Scotiabank | Initiated | Sector Perform | $27 |
| 2026-10-15 | Citigroup | Target raised | Buy | $28 → $32 |
| 2026-10-15 | Morgan Stanley | Target raised | Underweight | $25 → $26 |
| 2026-10-14 | Mizuho | Target raised | Neutral | $29 → $30 |
| 2026-09-10 | Raymond James | Target raised | Outperform | $28 → $31 |
| 2026-07-20 | Citigroup | Target lowered | Buy | $36 → $28 |
| 2026-07-14 | Mizuho | Target lowered | Neutral | $31 → $29 |
Total return (dividends reinvested) (NOG)
| 1Y (from 2025-10-28) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +41.9% | +57.3% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +41.9% | +9.5% |
| Volatility (annualized) | 44.7% | 48.1% |
| Max drawdown | -41.4% (Mar 2026→Jul 2026) | -53.6% (Nov 2024→Jun 2026) |
NOG earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $1.13 | $1.12 | Beat +0.9% | — |
| — | Quarter ended Mar 31, 2026 | $0.74 | $0.68 | Beat +8.8% | — |
| — | Quarter ended Dec 31, 2025 | $0.83 | $0.77 | Beat +7.8% | — |
| — | Quarter ended Sep 30, 2025 | $1.03 | $0.87 | Beat +18.4% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
NOG analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.06 | $0.97 | +9.5% | $605.8M | 10 |
| Next quarter (ends Dec 2026) | $1.16 | $0.97 | +19.8% | $625.6M | 9 |
| Current fiscal year (ends Dec 2026) | $4.22 | $3.90 | +8.1% | $2.17B | 9 |
| Next fiscal year (ends Dec 2027) | $5.03 | $4.17 | +20.6% | $2.50B | 8 |
Key Statistics (as of October 28, 2026 at 18:50 UTC)
| Price | USD 28.42 |
|---|---|
| Change | ▲ 0.96% (up) |
| Previous Close | USD 28.15 |
| Open | USD 28.51 |
| Day Range | USD 28.14 – 28.51 |
| 52-Week Range | USD 17.18 – 31.17 |
| Volume | 522,909 shares |
| Market Cap | $3.03B |
| Exchange | NYQ |
Technical Analysis (NOG)
Nexqual's technical model rates NOG "BUY" based on 5 bullish and 1 bearish signals across 128 daily candles, as of October 28, 2026 at 18:50 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 63.13 (neutral) |
| vs SMA50 | Above (USD 25.69) |
| MACD | 1.02 (positive) |
Analyst Ratings (NOG)
Wall Street analysts rate NOG "Hold" based on 10 analysts, with a mean price target of USD 30.22 (range USD 26–35), per Nexqual as of October 28, 2026 at 18:50 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 10 |
| Mean Target | USD 30.22 |
| High Target | USD 35 |
| Low Target | USD 26 |
| Buy / Hold / Sell | 4 / 5 / 1 |
Earnings (NOG)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 1.06 |
| Revenue Estimate | $605.83M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.13 vs est 1.12 ▲ beat |
| 2026-03-31 | USD 0.74 vs est 0.68 ▲ beat |
| 2025-12-31 | USD 0.83 vs est 0.77 ▲ beat |
| 2025-09-30 | USD 1.03 vs est 0.87 ▲ beat |
Source: Nexqual, October 28, 2026 at 18:50 UTC.
Financials & Fundamentals (NOG)
| Total Revenue | $2.01B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +16.00% |
| Gross Margin | +75.40% |
| Operating Margin | +57.06% |
| Profit Margin | -24.15% |
| ROE | -22.05% |
| Debt / Equity | 1.37 |
| Current Ratio | 0.8 |
| Total Cash | $47.60M |
| Total Debt | $2.72B |
Source: Nexqual, October 28, 2026 at 18:50 UTC.
Financial Health Score (NOG)
Nexqual rates Northern Oil and Gas, Inc.'s overall financial health "Mixed" across five dimensions, as of October 28, 2026 at 18:50 UTC.
| Growth | Strong — Revenue +15% YoY (annual) |
|---|---|
| Profitability | Solid — Gross margin 74%, operating -24% (last 4 quarters to Jun 2026, SEC) |
| Balance Sheet | Weak — $48M cash and investments vs $2.72B debt (Jun 2026, SEC) |
| Cash Flow | Solid — Operating cash flow $1.51B (FY ended Dec 2025, 10-K) |
| Efficiency | Critical — ROE -24%, ROA -8.3% (last 4 quarters, SEC) |
Ownership (NOG)
| Insider Ownership | +2.91% |
|---|---|
| Institutional Ownership | +104.68% |
| Shares Outstanding | 106.55M |
| Float | 103.02M |
| Short % of Float | +22.73% |
Source: Nexqual, October 28, 2026 at 18:50 UTC.
Leadership (NOG)
Northern Oil and Gas, Inc. is led by Nicholas L. O'Grady, CEO & Director, per Nexqual as of October 28, 2026 at 18:50 UTC.
| CEO & Director | Nicholas L. O'Grady |
|---|---|
| President | Adam Dirlam |
| Chief Financial Officer | Chad Allen |
| Founder & Chairman Emeritus | Michael L. Reger |
| Vice President of Investor Relations | Evelyn Leon Infurna |
Major Backers & Investors (NOG)
Notable institutional backers of Northern Oil and Gas, Inc. include American Century Companies Inc, Invesco, Millennium Management, according to Nexqual as of October 28, 2026 at 18:50 UTC.
Active Investors
| Investor | Stake |
|---|---|
| American Century Companies Inc | 7.94% |
| Invesco | 5.64% |
| Millennium Management | 2.16% |
| UBS Group AG | 1.96% |
| AIM Sector Funds (Invesco Sector Funds)-Invesco Small Cap Value Fund | 1.62% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 15.06% |
| Vanguard Group | 10.74% |
| State Street | 6.74% |
| Dimensional Fund Advisors | 4.21% |
| Geode Capital | 2.54% |
Source: Nexqual, October 28, 2026 at 18:50 UTC.
From Northern Oil and Gas, Inc.'s Latest SEC 10-K Filing (filed 2026-02-26)
Key Strengths & Strategy (as disclosed to the SEC)
- Given the volatility of the commodity price environment, we employ an active commodity price risk management program to better enable us to execute our business plan over the entire commodity price cycle.
Legal & Regulatory Risks (Item 1A, quoted)
- The executive branch and/or Congress could enact additional rules and regulations that restrict our ability to acquire federal leases in the future and/or impose more onerous permitting and other costly environmental, health and safety requirements.
- We are affected by the adoption of laws, regulations and policy directives that, for economic, environmental protection or other policy reasons, could curtail exploration and development drilling for oil and gas.
- Our ability to use net operating loss carryforwards to offset future taxable income may be subject to certain limitations.
- We have net operating loss ("NOL") carryforwards that we may use to offset against taxable income for U.S. federal income tax purposes.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| BSM | Black Stone Minerals, L.P. | USD 14.85 | ▲ 0.3% |
| BTE | Baytex Energy Corp | USD 5.51 | ▲ 1.66% |
| CRK | Comstock Resources, Inc. | USD 14.98 | ▲ 0.54% |
| CRC | California Resources Corporatio | USD 54.85 | ▲ 1.36% |
| CRGY | Crescent Energy Company | USD 13.91 | ▲ 1.61% |
| CNX | CNX Resources Corporation | USD 38.31 | ▼ 0.7% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 28, 2026 at 18:50 UTC. This page is informational and not investment advice.
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