Zacks Research Issues Optimistic Forecast for NOG Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Stock analysts at Zacks Research lifted their Q3 2026 earnings estimates for shares of Northern Oil and Gas in a research report issued to clients and investors on Friday, October 16th. Zacks Research analyst Team now expects that the company will post earnings per share of $0.83 for the quarter, up from their prior estimate of $0.81. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $3.82 per share. Zacks Research also issued estimates for Northern Oil and Gas’ FY2026 earnings at $3.46 EPS, Q1 2027 earnings at $0.89 EPS and Q3 2027 earnings at $0.70 EPS.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.05). The firm had revenue of $745.24 million for the quarter, compared to analysts’ expectations of $594.09 million. Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.37 EPS.

Other analysts have also issued reports about the company. Scotiabank assumed coverage on Northern Oil and Gas in a research report on Wednesday, October 14th. They set a “sector perform” rating and a $27.00 target price on the stock. Weiss Ratings downgraded Northern Oil and Gas from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded Northern Oil and Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Morgan Stanley restated an “underweight” rating and set a $26.00 price objective (up from $25.00) on shares of Northern Oil and Gas in a research note on Thursday, October 15th. Finally, Citigroup lifted their price objective on Northern Oil and Gas from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.22.

Northern Oil and Gas Stock Down 0.7%

Shares of Northern Oil and Gas stock opened at $27.56 on Monday. The business has a 50-day moving average of $25.33 and a 200-day moving average of $23.50. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $2.94 billion, a PE ratio of 7.44 and a beta of 0.90. Northern Oil and Gas has a 1-year low of $17.18 and a 1-year high of $31.17.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas’s payout ratio is currently -34.75%.

Institutional Trading of Northern Oil and Gas

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Northern Oil and Gas by 18.5% in the first quarter. Bank of America Corp DE now owns 1,245,639 shares of the company’s stock valued at $36,410,000 after acquiring an additional 194,861 shares during the period. First Trust Advisors LP grew its holdings in shares of Northern Oil and Gas by 116.8% during the first quarter. First Trust Advisors LP now owns 1,167,971 shares of the company’s stock valued at $34,140,000 after purchasing an additional 629,197 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Northern Oil and Gas during the second quarter valued at approximately $26,769,000. Empowered Funds LLC raised its position in shares of Northern Oil and Gas by 5.3% during the 1st quarter. Empowered Funds LLC now owns 403,127 shares of the company’s stock worth $11,783,000 after purchasing an additional 20,413 shares during the period. Finally, Requisite Capital Management LLC acquired a new stake in shares of Northern Oil and Gas during the 2nd quarter worth approximately $10,519,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Trending Headlines about Northern Oil and Gas

Here are the key news stories impacting Northern Oil and Gas this week:

• Positive Sentiment: An analysis argues that NOG remains undervalued despite a 41% run, suggesting the shares may still have upside if the company’s earnings and cash-flow performance support the valuation. Northern Oil And Gas (NOG) Stock Looks Undervalued On Its 41% Run
• Positive Sentiment: An analyst raised the forecast for Northern Oil and Gas’ third-quarter earnings per share, providing a modest positive signal ahead of the company’s results. Q3 EPS Forecast for Northern Oil and Gas Raised by Analyst
• Neutral Sentiment: Wall Street analysts maintained a “Hold” rating on NOG. This indicates limited conviction that the recent rally will continue, although it is not an outright bearish recommendation. Northern Oil and Gas, Inc. Stock Rated Hold by Wall Street Analysts
• Negative Sentiment: Zacks Research made small but mixed changes to its forecasts: estimates increased for fourth-quarter 2026 EPS to $0.75 from $0.74 and fourth-quarter 2027 EPS to $0.79 from $0.78, but declined for second-quarter 2028 EPS to $0.86 from $0.87 and full-year 2028 EPS to $3.36 from $3.38. The longer-term reductions may weigh on sentiment, particularly with current full-year consensus EPS at $3.82.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests, allowing it to participate in wells drilled and managed by other exploration and production companies while maintaining exposure to a broad portfolio of oil and gas assets.

Northern Oil and Gas has historically focused on properties in the Williston Basin of North Dakota and Montana and has expanded its operations into other major U.S.