Zacks Research Issues Positive Estimate for NOG Earnings

Key Points

• Zacks Research raised Northern Oil and Gas’ Q3 2026 earnings estimate to $0.83 per share from $0.81, while projecting full-year 2026 earnings of $3.46 per share.
• Analyst sentiment remains mixed: Citigroup and Raymond James raised price targets and maintained bullish ratings, while Scotiabank initiated coverage at Sector Perform and the overall consensus remains Hold with a $31.22 average target.
• NOG declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a cited 6.6% yield; institutional investors and hedge funds own 98.8% of the company.

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Research analysts at Zacks Research raised their Q3 2026 earnings estimates for shares of Northern Oil and Gas in a note issued to investors on Friday, October 16th. Zacks Research analyst Team now anticipates that the company will earn $0.83 per share 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.

Other equities research analysts also recently issued reports about the company. Weiss Ratings downgraded Northern Oil and Gas from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, October 8th. Citigroup lifted their target price on Northern Oil and Gas from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday. Scotiabank started coverage on Northern Oil and Gas in a research note on Wednesday. They set a "sector perform" rating and a $27.00 target price on the stock. Wall Street Zen upgraded Northern Oil and Gas from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $31.00 price target (up from $28.00) on shares of Northern Oil and Gas in a research report on Thursday, September 10th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Northern Oil and Gas has an average rating of "Hold" and an average target price of $31.22.

Northern Oil and Gas Trading Up 0.1%

Northern Oil and Gas stock opened at $27.19 on Monday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -5.25 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. The firm's 50 day moving average price is $25.18 and its two-hundred day moving average price is $23.51.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $1.18 by ($0.05). The company had revenue of $745.24 million for the quarter, compared to analyst estimates of $594.09 million. Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. Northern Oil and Gas's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 EPS.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Tuesday, September 29th. Northern Oil and Gas's dividend payout ratio is -34.75%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ascentis Independent Advisors acquired a new position in shares of Northern Oil and Gas during the 1st quarter worth about $33,000. Triumph Capital Management lifted its holdings in shares of Northern Oil and Gas by 77.8% during the third quarter. Triumph Capital Management now owns 1,600 shares of the company's stock worth $37,000 after buying an additional 700 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Northern Oil and Gas in the second quarter valued at approximately $29,000. Allworth Financial LP bought a new stake in shares of Northern Oil and Gas in the second quarter valued at approximately $31,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Northern Oil and Gas by 41.2% in the third quarter. Farther Finance Advisors LLC now owns 1,751 shares of the company's stock valued at $40,000 after acquiring an additional 511 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Key Stories Impacting Northern Oil and Gas

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

• Positive Sentiment: Zacks upgraded NOG to Rank #2 (Buy), citing growing optimism about the company’s earnings prospects. Because the Zacks system emphasizes earnings estimates and revisions, the upgrade may attract additional momentum-oriented investors. What Makes Northern Oil and Gas a New Buy Stock
• Positive Sentiment: Citigroup raised its NOG price target from $28 to $32 and maintained a Buy rating. The higher target implies meaningful upside from the recently cited $27.19 reference price and provides a strong near-term catalyst. Read More
• Positive Sentiment: Mizuho lifted its price target to $30 and was described as forecasting strong appreciation for NOG. The revision adds to the group of analysts signaling further potential upside. Mizuho lifts target for Northern Oil and Gas stock to USD 30.00
• Neutral Sentiment: Scotiabank initiated coverage with a Sector Perform rating, signaling a view that NOG should broadly track its industry rather than materially outperform it. Scotiabank Initiates Northern Oil and Gas at Sector Perform
• Neutral Sentiment: RBC Capital assigned NOG a Hold rating, tempering the more bullish calls and highlighting continued analyst disagreement over the stock’s valuation and outlook. Northern Oil and Gas Receives a Hold from RBC Capital
• Neutral Sentiment: A separate Zacks review examined NOG’s value, growth and momentum characteristics but did not identify a major new operating development or change in fundamentals. Should Value Investors Buy Northern Oil and Gas Stock?

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests in wells, allowing it to participate in hydrocarbon development without serving as the principal operator.

Northern Oil and Gas has built a diversified portfolio across several major U.S. oil and natural gas regions, including the Williston Basin, the Permian Basin and the Appalachian Basin.

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