NOG Stock - Northern Oil and Gas, Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $2.16B | $1.91B | $1.99B | $975.09M | $324.07M |
| Gross Profit | $835.98M | $913.86M | $1.32B | $586.49M | $15.83M |
| Gross Margin | 38.6% | 47.9% | 66.3% | 60.1% | 4.9% |
| Operating Income | $837.83M | $1.12B | $853.19M | $77.96M | $-841,243,000 |
| Net Income | $520.31M | $922.97M | $773.24M | $6.36M | $-906,041,000 |
| Net Margin | 24.0% | 48.4% | 38.9% | 0.7% | -279.6% |
| EPS | $5.21 | $10.09 | $9.26 | $-0.13 | $-21.55 |
Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States. As of December 31, 2021, it owned working interests in 7,436 gross producing wells; and had proved reserves of 287,682 million barrels of oil equivalent. The company is based in Minnetonka, Minnesota.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| August 25th 2025 | William Blair | Initiation | Outperform | - |
| August 18th 2025 | Morgan Stanley | Downgrade | Underweight | $27 |
| February 21st 2025 | CapitalOne | Downgrade | Equal Weight | - |
| December 16th 2024 | Mizuho | Downgrade | Neutral | $47 |
| November 20th 2024 | RBC Capital Mkts | Downgrade | Sector Perform | $45← $43 |
| October 3rd 2024 | Jefferies | Resumed | Buy | $53 |
| September 19th 2024 | Mizuho | Initiation | Outperform | $47 |
| January 5th 2024 | Morgan Stanley | Initiation | Equal Weight | $40 |
| January 5th 2024 | BofA Securities | Downgrade | Underperform | $39 |
| December 14th 2023 | Johnson Rice | Downgrade | Accumulate | - |
| August 14th 2023 | Piper Sandler | Downgrade | Neutral | $46 |
| January 6th 2023 | BofA Securities | Upgrade | Buy | $38 |
| October 19th 2022 | Jefferies | Initiation | Buy | $37 |
| September 19th 2022 | BofA Securities | Reiterated | Neutral | $34← $32 |
Earnings History & Surprises
NOGEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 27, 2026 | — | — | — | — |
Q1 2026 | Feb 18, 2026 | $0.85 | — | — | — |
Q4 2025 | Nov 6, 2025 | $0.82 | $1.03 | +25.6% | ✓ BEAT |
Q3 2025 | Jul 31, 2025 | $0.87 | $1.37 | +57.5% | ✓ BEAT |
Q2 2025 | Apr 29, 2025 | $1.12 | $1.33 | +18.7% | ✓ BEAT |
Q1 2025 | Feb 19, 2025 | $1.27 | $1.11 | -12.6% | ✗ MISS |
Q4 2024 | Nov 5, 2024 | $1.16 | $1.40 | +20.7% | ✓ BEAT |
Q3 2024 | Jul 30, 2024 | $1.22 | $1.46 | +19.7% | ✓ BEAT |
Q2 2024 | Apr 30, 2024 | $1.15 | $1.28 | +11.3% | ✓ BEAT |
Q1 2024 | Feb 22, 2024 | $1.64 | $1.61 | -1.8% | ✗ MISS |
Q4 2023 | Nov 1, 2023 | $1.76 | $1.73 | -1.7% | ✗ MISS |
Q3 2023 | Aug 2, 2023 | $1.35 | $1.49 | +10.4% | ✓ BEAT |
Q2 2023 | May 4, 2023 | $1.54 | $1.76 | +14.3% | ✓ BEAT |
Q1 2023 | Feb 23, 2023 | $1.65 | $1.43 | -13.3% | ✗ MISS |
Q4 2022 | Nov 8, 2022 | $1.70 | $1.80 | +5.9% | ✓ BEAT |
Q3 2022 | Aug 3, 2022 | $1.57 | $1.72 | +9.6% | ✓ BEAT |
Q2 2022 | May 5, 2022 | $1.20 | $1.58 | +31.7% | ✓ BEAT |
Q1 2022 | Feb 24, 2022 | $1.10 | $1.06 | -3.6% | ✗ MISS |
Q4 2021 | Nov 5, 2021 | $0.91 | $0.84 | -7.7% | ✗ MISS |
Q3 2021 | Aug 5, 2021 | $0.69 | $0.92 | +33.3% | ✓ BEAT |
Latest News
Northern Oil and Gas Boosts Natural Gas Hedges After Ohio Utica Deal
📈 PositiveMizuho Maintains Neutral on Northern Oil & Gas, Raises Price Target to $30
➖ NeutralNOG Announces $1.2B Joint Acquisition With Infinity To Buy Ohio Utica Upstream And Integrated Midstream Assets From Antero, With NOG Paying $588M For 49% Stake
📈 PositiveShares of natural gas stocks are trading higher as prices rise.
📈 PositiveNorthern Oil & Gas Q3 Adj. EPS $1.03 Beats $0.86 Estimate, Sales $482.243M Miss $521.124M Estimate
➖ NeutralNOG Expects Total Capital Expenditures Of ~$272M For Q3, Inclusive Of Ground Game, But Excluding Non-Budgeted And Other Capital Expenditures, Tightening Annual Capital Expenditure Guidance Range To $950 – $1,025M
➖ NeutralNOG provides Guidance For Q3 With Total Production Expected To Reach 131 Mboe/d, And Annual Production Guidance Was Raised To 75,000–76,500 Bopd And 132,500–134,000 Boepd
📈 PositiveCitigroup Maintains Buy on Northern Oil & Gas, Lowers Price Target to $28
➖ NeutralMorgan Stanley Maintains Underweight on Northern Oil & Gas, Lowers Price Target to $26
📉 NegativeMizuho Maintains Neutral on Northern Oil & Gas, Lowers Price Target to $28
➖ NeutralWilliam Blair Initiates Coverage On Northern Oil & Gas with Outperform Rating
📈 PositiveMorgan Stanley Downgrades Northern Oil & Gas to Underweight, Lowers Price Target to $27
📉 NegativeFrequently Asked Questions about NOG
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