Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc.

NOG
Northern Oil and Gas, Inc.US flagNew York Stock Exchange
26.58
USD
+0.28
- -
2.89BMarket Cap
Northern Oil and Gas, Inc.
NOG
(New York Stock Exchange)

Recent

price

26.58

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
11.82
25.85
47.5
59.2
71.12
33.42
26.11
35.89
20.91
15.53
7.58
15.48
25.28
20.85
21.67
21.44
21.63
Revenue per Share
1.37
6.57
11.57
8.51
26.98
-160.81
-47.98
-1.47
6.08
-2
-21.55
-0.13
9.72
10.09
5.21
0.4
-4.88
Basic EPS, GAAP
14.14
13.71
31.73
35.66
45.16
40.71
13.35
9.38
-0.58
2.83
1.12
-3.13
-5.49
-7.42
-2.66
2.59
1.29
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.54
0.93
1.35
1.62
1.77
1.8
Dividend per Share
70.07
78.41
92.27
100.2
126.23
-31.31
-77.05
-73.49
11.36
13.76
-4.86
2.78
8.75
20.32
23.41
21.86
18.73
Book Value per Share
70.07
78.41
92.27
100.2
126.23
-31.31
-77.05
-73.49
11.36
13.76
-4.86
2.78
8.75
20.32
23.41
21.86
18.73
Tangible Book Value per Share
5
6
6
6
6
6
6
6
24
39
43
63
79
91
100
98
100
Basic Weighted Avg Shares
60
160
297
369
432
203
160
224
494
601
324
975
1,986
1,907
2,164
2,095
2,156
Sales/Revenue/Turnover
44.52
48.57
38.54
41.02
32.84
-13.72
14.1
33.56
50.13
31.73
-0.84
57.04
63.88
45.23
35.86
28.69
29.33
Operating Margin (%)
17
41
99
124
173
138
61
60
120
210
162
141
251
486
741
815
793
Depreciation Expense
7
41
72
53
164
-975
-293
-9
144
-76
-906
6
773
923
520
39
-486
Net Income, GAAP
38.98
39.79
37.3
37.45
37.77
- -
- -
- -
- -
- -
- -
3.53
0.4
7.77
23.58
38.19
23.81
Effective Tax Rate (%)
11.61
25.43
24.35
14.37
37.94
-481.24
-183.75
-4.1
29.09
-12.69
-279.58
0.65
38.94
48.4
24.05
1.85
-22.54
Profit Margin (%)
173
-39
-6
-90
-60
44
-31
29
-3
-70
-57
-112
-24
124
-44
47
-128
Working Capital
- -
70
424
585
806
835
833
979
830
1,118
880
803
1,525
1,836
2,369
2,395
2,725
LT Debt
435
497
586
620
771
-198
-487
-491
430
559
-223
215
745
2,048
2,320
2,126
1,995
Total Equity
5.78
9.33
9.1
8.56
6.25
- -
- -
- -
- -
- -
- -
61.94
77.03
25.89
13.85
8.07
- -
Return on Invested Capital (%)
2.6
8.18
10.27
6.64
13.66
- -
- -
- -
- -
- -
- -
7.27
51.88
34.06
14.95
3.16
-4.2
Return on Capital (%)
2.48
8.72
13.35
8.8
23.55
- -
- -
- -
- -
-15.65
- -
- -
158.98
66.09
23.82
1.74
-22.05
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
2,395
2,552
2,725
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
97
106
107
Market Capitalization
2,088
3,092
1,934

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
586
473
502
Cash, Cash Equivalents & STI
14
37
48
Accounts Receivable, Net
350
395
378
Inventories
- -
- -
- -
Total Current Liabilities
539
899
630
Payables & Accruals
535
637
605
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.96%
45.96%
-8.36%
Free Cash Flow
-177.04%
-118.59%
-195.01%
Net Income, GAAP
1,094.28%
2,367.68%
-92.55%
Sales/Revenue/Turnover
42.6%
62.17%
-3.18%
Total Cash Common Dividend
- -
26.67%
7.06%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
535
564
515
549
2,164
2025
580
578
486
451
2,095
2026
544
675
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.12
1.38
3
0.72
5.21
2025
1.41
1.02
-1.33
-0.73
0.4
2026
-5.31
2.24
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.4
0.4
0.4
0.42
1.62
2025
0.42
0.45
0.45
0.45
1.77
2026
0.45
0.45
- -
- -
- -
Business
Northern Oil and Gas, Inc. (NYSE: NOG) operates as the largest publicly traded non-operated upstream energy asset owner in the United States, focusing on the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties; its core assets consist of non-operated minority working and mineral interests across approximately 300,000 acres primarily in the Williston Basin (North Dakota and Montana), Uinta Basin (Utah), Permian Basin (Texas), and Appalachian Basin, with operations supported by a proprietary data lake encompassing performance data from over 100 operators and 10,000 wells. Founded in 2006 and headquartered in Minnetonka, Minnesota, the company targets independent energy producers and E&P operators through bolt-on acquisitions, Ground Game transactions for wells and drillcos, and joint development agreements, delivering peer-leading efficiency at $0.82 cash G&A per BOE in Q3 2025 and average 20% return on capital employed from 2018 to 2024. Recent developments include the October 2024 completion of a major Uinta Basin acquisition from XCL Resources LLC and Umont Energy LLC in partnership with SM Energy Inc., securing over 15,000 net acres and 116 net drilling locations under long-term joint development pacts; a June 2024 $510 million asset deal with SM Energy; a February 2025 $40 million bolt-on acquisition of 2,275 net acres in Upton County, Texas (Midland Basin); April 2025 expansion of its reserves-based credit facility to a $1.6 billion elected commitment with 20 banks including new partner CIBC Capital Markets; and year-to-date 2025 deployment of over $95.8 million across 50+ Ground Game trades adding 11.6 net wells and 6,100 net acres, alongside a $1.05-$1.20 billion 2025 capital budget emphasizing natural gas activity and Appalachian expansion.

Company News

  • Northern Oil And Gas: My Conviction Holds As Unit Economics Strengthen In Q2

  • Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Rating of “Hold” by Analysts

  • Freestone Grove Partners LP Invests $1.49 Million in Northern Oil and Gas, Inc. $NOG

  • NOG Announces Pricing of $500 Million Private Offering of Senior Notes

  • Is NOG a Buy Now as Low Valuation Meets Commodity and Leverage Risks?

  • Northern Oil and Gas: Big Upside, If You Can Stomach The Risks

  • NOG Announces Proposed $500 Million Private Offering of Senior Notes

  • NOG Announces Proposed $500 Million Private Offering of Senior Notes

  • Northern Oil and Gas Q2 Earnings Beat Estimates, Decline Y/Y

  • Bank of America Corp DE Purchases 194,861 Shares of Northern Oil and Gas, Inc. $NOG

  • Northern Oil and Gas Q2 Earnings Call Highlights

  • Northern Oil and Gas (NOG) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

  • Northern Oil and Gas, Inc. (NOG) Q2 2026 Earnings Call Transcript

  • Northern Oil and Gas (NOG) Reports Q2 Earnings: What Key Metrics Have to Say

  • Northern Oil and Gas (NOG) Q2 Earnings and Revenues Surpass Estimates

  • NOG Announces Second Quarter 2026 Results

  • NOG Declares Quarterly Cash Dividend

  • Analysts Estimate Northern Oil and Gas (NOG) to Report a Decline in Earnings: What to Look Out for

  • First Trust Advisors LP Purchases 629,197 Shares of Northern Oil and Gas, Inc. $NOG

  • Dimensional Fund Advisors LP Trims Stake in Northern Oil and Gas, Inc. $NOG