Q1 EPS Forecast for Northern Oil and Gas Raised by Analyst

Key Points

• Zacks Research$0.74 (from $0.67) and boosting FY2026 to $2.30 and FY2027 to $2.81, though it cut FY2028 to $3.06 from $3.95.
• Northern Oil and Gas recently beat expectations with quarterly EPS of $0.83 (vs. $0.71 est.) and revenue of $610.18M, up 18.5% year‑over‑year.
• The company announced a quarterly dividend of $0.45 (annualized yield ~6.7%), but the payout ratio is extremely high at 545.45%, signaling potential sustainability risk.

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Stock analysts at Zacks Research boosted their Q1 2026 earnings estimates for shares of Northern Oil and Gas in a report released on Thursday, April 9th. Zacks Research analyst Team now forecasts that the company will post earnings of $0.74 per share for the quarter, up from their previous forecast of $0.67. The consensus estimate for Northern Oil and Gas' current full-year earnings is $5.18 per share. Zacks Research also issued estimates for Northern Oil and Gas' Q2 2026 earnings at $0.50 EPS, Q3 2026 earnings at $0.47 EPS, Q4 2026 earnings at $0.58 EPS, FY2026 earnings at $2.30 EPS, Q2 2027 earnings at $0.58 EPS, Q3 2027 earnings at $0.65 EPS, Q4 2027 earnings at $0.68 EPS, FY2027 earnings at $2.81 EPS and FY2028 earnings at $3.06 EPS.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.12. The company had revenue of $610.18 million for the quarter, compared to analyst estimates of $524.98 million. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. Northern Oil and Gas's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 EPS.

A number of other research analysts have also commented on NOG. Citigroup upped their price target on shares of Northern Oil and Gas from $34.00 to $39.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. Morgan Stanley reiterated an "underweight" rating on shares of Northern Oil and Gas in a research note on Friday, March 27th. Bank of America upped their price target on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada decreased their price target on shares of Northern Oil and Gas from $33.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $31.71.

Northern Oil and Gas Stock Up 0.2%

Northern Oil and Gas stock opened at $26.98 on Monday. The firm has a market capitalization of $2.62 billion, a PE ratio of 81.76 and a beta of 0.94. The company's 50-day moving average is $27.52 and its 200-day moving average is $24.35. Northern Oil and Gas has a fifty-two week low of $20.18 and a fifty-two week high of $32.62. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09.

Institutional Trading of Northern Oil and Gas

A number of institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its holdings in Northern Oil and Gas by 14.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company's stock valued at $66,000 after purchasing an additional 400 shares during the period. Range Financial Group LLC boosted its holdings in Northern Oil and Gas by 5.3% in the 3rd quarter. Range Financial Group LLC now owns 9,736 shares of the company's stock valued at $241,000 after purchasing an additional 486 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Northern Oil and Gas by 18.8% in the 4th quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company's stock valued at $69,000 after purchasing an additional 507 shares during the period. Virtus Investment Advisers LLC boosted its holdings in Northern Oil and Gas by 8.4% in the 4th quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company's stock valued at $159,000 after purchasing an additional 572 shares during the period. Finally, First National Advisers LLC boosted its holdings in Northern Oil and Gas by 4.8% in the 3rd quarter. First National Advisers LLC now owns 12,665 shares of the company's stock valued at $314,000 after purchasing an additional 580 shares during the period. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.80 dividend on an annualized basis and a yield of 6.7%. Northern Oil and Gas's payout ratio is currently 545.45%.

Northern Oil and Gas News Roundup

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

• Positive Sentiment: Zacks raised near‑term and medium‑term EPS forecasts across most quarters and years (multiple upward revisions to Q1–Q4 2026, FY2026, Q2–Q4 2027 and FY2027). That signals expectations for stronger cash flow and profitability versus prior views, which can support the share price and investor sentiment. MarketBeat NOG
• Positive Sentiment: Specifically, Zacks lifted Q1 2026 to $0.74 EPS (from $0.67) and raised FY2026 to $2.30 EPS (from $2.10), plus FY2027 to $2.81 — these upward revisions tighten near‑term estimates and reduce earnings risk for the next 12–18 months. What is Zacks Research's Estimate for NOG Q1 Earnings?
• Neutral Sentiment: Consensus and Zacks’ new numbers still sit against a relatively high valuation: NOG’s trailing PE is ~81.8 and the company’s current consensus full‑year figure cited is $5.18 — investors must weigh upgraded quarterly/near‑term prints against already elevated expectations. MarketBeat NOG
• Negative Sentiment: Zacks cut FY2028 EPS materially (to $3.06 from $3.95), which tempers the positive near‑term story and suggests either slower longer‑term growth assumptions or expected margin pressure thereafter. That downgrade is a potential headwind for the stock if investors focus on multi‑year growth. MarketBeat NOG

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company's primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.

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