NOG
Northern Oil and Gas, Inc.
NOG lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve, though they disagree widely on how much.
NOG Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Strong | |
| Unavailable |
NOG's cash flow is currently strong, but its revenue and profitability are under pressure. There isn't enough data to rate its balance sheet.
NOG PE Valuation
NOG has no meaningful PE right now: it lost money over the past year.
NOG Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for NOG, with profitability improving. However, they disagree widely on these estimates.
NOG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.69 | — |
| Q3 2026 | -$4.85 | -374% |
| Q2 2026 | -$5.12 | -184% |
| Q1 2026 | -$6.31 | -198% |
| Q4 2025 | $0.39 | -92% |
| Q3 2025 | $1.77 | -79% |
| Q2 2025 | $6.06 | +7.4% |
| Q1 2025 | $6.42 | +4.2% |
| Q4 2024 | $5.14 | -49% |
NOG has swung to a loss: it lost $4.85 per share over the past year, after a profit the year before.
NOG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $345.9M | -38% |
| Q2 2026 | $745.2M | +5.4% |
| Q1 2026 | $5M | -99% |
| Q4 2025 | $610.2M | +18% |
| Q3 2025 | $556.6M | -26% |
| Q2 2025 | $706.8M | +26% |
| Q1 2025 | $602.1M | +52% |
| Q4 2024 | $515M | -35% |
NOG's revenue has slid since its 2023 peak: $346M last quarter, down 38% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -22% | +0.4 points |
| Q2 2026 | 47% | +22 points |
| Q1 2026 | -13022% | -13060 points |
| Q4 2025 | -5.5% | -31 points |
| Q3 2025 | -23% | -80 points |
| Q2 2025 | 25% | -14 points |
| Q1 2025 | 38% | +25 points |
| Q4 2024 | 26% | -35 points |
NOG's operating margin was −22% last quarter, about level with the same quarter a year ago.
NOG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $397.7M | -6% |
| Q2 2026 | $321.6M | -11% |
| Q1 2026 | $323.6M | -20% |
| Q4 2025 | $312.6M | +7.7% |
| Q3 2025 | $422.9M | +9.6% |
| Q2 2025 | $362.2M | +6.4% |
| Q1 2025 | $406.8M | +3.8% |
| Q4 2024 | $290.3M | -15% |
NOG's free cash flow has been positive every quarter for six years: $1.4B over the past year, down 8.6% from the year before.
NOG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2% | -2.1M shares |
| 1 year | +9.1% | +8.8M shares |
| 3 years | +13% | +12.2M shares |
| 5 years | +59% | +39.3M shares |
| Available history | +174% | +67.2M shares |
NOG has 106M diluted shares, up 9.1% from a year ago, despite $83M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $26M |
| Q2 2026 | $50M |
| Q1 2026 | — |
| Q4 2025 | $7M |
| Q3 2025 | — |
| Q2 2025 | $35M |
| Q1 2025 | $15M |
| Q4 2024 | $25.2M |
NOG spent $83M buying back its own shares over the past year, up 11% from the year before.
NOG Net Leverage
NOG's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
NOG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.4 | Neutral |
| Stochastic | 57.4 | Neutral |
NOG's weekly RSI is 50 (neutral) and its Stochastic is 57 (neutral).
NOG PE vs Energy Sector
| Metric | NOG | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
NOG has no meaningful PE right now: it lost money over the past year.
NOG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $25.4 | 2.6% below |
| 20 week MA | $24.0 | 3.1% above |
| 50 week MA | $24.3 | 1.8% above |
| 100 week MA | $26.3 | 5.8% below |
| 200 week MA | $31.6 | 22% below |
NOG's trend is mixed: it's above two of its five weekly moving averages, and 22% below its 200-week average.
NOG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.5 | $8.96 | -62% |
| 2021 | $8.96 | $19.9 | +122% |
| 2022 | $19.9 | $31.8 | +59% |
| 2023 | $31.8 | $37.1 | +17% |
| 2024 | $37.1 | $36.0 | -2.8% |
| 2025 | $36.0 | $21.4 | -41% |
| 2026 YTD | $21.4 | $24.7 | +16% |
NOG's yearly returns have swung widely, from +122% in 2021 to −62% in 2020. It's up 16% so far in 2026.