Zacks Research Brokers Reduce Earnings Estimates for NOG

Key Points

• Zacks Research cut Northern Oil and Gas’ Q2 2027 EPS forecast to $0.76 from $0.80; full-year consensus earnings are $3.79 per share.
• Analyst sentiment remains mixed, with four Buy, four Hold and two Sell ratings, resulting in a consensus Hold rating and a $30.62 price target.
• NOG reported quarterly EPS of $1.13, missing estimates of $1.18, while revenue rose 5.4% year over year to $745.2 million. The company also declared a $0.45 quarterly dividend, representing a 6.6% annualized yield.

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Research analysts at Zacks Research reduced their Q2 2027 EPS estimates for shares of Northern Oil and Gas in a report issued on Thursday, August 20th. Zacks Research analyst Team now forecasts that the company will earn $0.76 per share for the quarter, down from their prior estimate of $0.80. The consensus estimate for Northern Oil and Gas' current full-year earnings is $3.79 per share. Zacks Research also issued estimates for Northern Oil and Gas' Q1 2028 earnings at $0.92 EPS.

Several other equities analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Northern Oil and Gas from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Mizuho upgraded Northern Oil and Gas to a "hold" rating in a report on Friday, July 31st. Weiss Ratings upgraded Northern Oil and Gas from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Johnson Rice lowered Northern Oil and Gas from an "accumulate" rating to a "hold" rating and set a $36.00 price target on the stock. in a research report on Wednesday, May 20th. Finally, Raymond James Financial restated an "outperform" rating and issued a $28.00 price target on shares of Northern Oil and Gas in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of "Hold" and a consensus price target of $30.62.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $27.30 on Monday. The firm has a fifty day moving average of $20.90 and a 200-day moving average of $24.15. Northern Oil and Gas has a 52-week low of $17.18 and a 52-week high of $31.17. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $2.91 billion, a P/E ratio of -5.27 and a beta of 0.70.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its holdings in Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock valued at $33,000 after purchasing an additional 713 shares during the last quarter. Ascentis Independent Advisors acquired a new position in Northern Oil and Gas in the first quarter worth about $33,000. EverSource Wealth Advisors LLC increased its holdings in Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company's stock valued at $43,000 after buying an additional 1,228 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Northern Oil and Gas by 85.7% during the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company's stock valued at $44,000 after buying an additional 702 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Northern Oil and Gas during the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Insiders Place Their Bets

In other news, Director Bahram Akradi acquired 25,760 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $19.40 per share, with a total value of $499,744.00. Following the transaction, the director directly owned 1,713,444 shares in the company, valued at approximately $33,240,813.60. This represents a 1.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 6.6%. Northern Oil and Gas's payout ratio is currently -34.75%.

Key Northern Oil and Gas News

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

• Positive Sentiment: Near-term earnings estimates improved: Zacks Research raised its Q3 2026 EPS forecast to $0.81 from $0.77 and lifted its FY2026 estimate to $3.42 from $3.13. The analyst also increased its FY2028 estimate slightly to $3.38 from $3.35. These changes suggest better expected near-term operating performance, although the FY2026 estimate remains below the broader consensus of $3.60. Zacks Research earnings estimate revisions
• Neutral Sentiment: Former NOG executive joins Williston Basin transaction: Callan JMB’s Callan Power plans to acquire Reger Oil assets in the Williston Basin, with Northern Oil and Gas’ former CEO and founder Michael Reger named president. The announcement may draw attention to regional consolidation and management expertise but does not represent a direct transaction by NOG. Callan Power to acquire Reger Oil assets
• Negative Sentiment: Longer-term earnings expectations were cut: Zacks lowered its Q4 2026 EPS forecast to $0.74 from $0.84, Q1 2027 to $0.90 from $0.93, Q3 2027 to $0.68 from $0.69, and FY2027 to $3.12 from $3.22. The reductions indicate some pressure on expected earnings growth beyond 2026. Zacks Research earnings estimate revisions
• Negative Sentiment: Debt financing adds interest-cost and leverage concerns: NOG priced a private offering of $500 million in 7.500% senior notes. The capital may provide financial flexibility, but the high coupon increases future interest expense and adds to balance-sheet obligations. NOG announces senior notes offering

Northern Oil and Gas Company Profile

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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