Zacks Research Has Optimistic Outlook of NOG Q2 Earnings

Key Points

• Zacks Research raised its Q2 2026 EPS estimate for Northern Oil and Gas to $0.68 from $0.62, and also lifted several longer-term earnings forecasts, signaling a more upbeat profit outlook.
• Other analysts remain mixed on NYSE:NOG, with an average Hold rating and an average price target of $33.00 despite some recent target-price increases from firms like RBC and Bank of America.
• The stock was up 3.1% and opened at $21.38, while the company also announced a quarterly dividend of $0.45 per share, equal to an annualized yield of about 8.4%.

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Investment analysts at Zacks Research raised their Q2 2026 earnings estimates for Northern Oil and Gas in a research report issued to clients and investors on Wednesday, June 10th. Zacks Research analyst Team now expects that the company will earn $0.68 per share for the quarter, up from their prior estimate of $0.62. The consensus estimate for Northern Oil and Gas' current full-year earnings is $3.37 per share. Zacks Research also issued estimates for Northern Oil and Gas' Q3 2026 earnings at $0.74 EPS, Q4 2026 earnings at $0.92 EPS, FY2026 earnings at $3.07 EPS, Q1 2027 earnings at $1.08 EPS, Q2 2027 earnings at $0.82 EPS, Q3 2027 earnings at $0.73 EPS, Q4 2027 earnings at $0.86 EPS, FY2027 earnings at $3.49 EPS and Q1 2028 earnings at $0.93 EPS.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada lifted their price objective on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 8th. Morgan Stanley restated an "underweight" rating and issued a $29.00 target price (up from $28.00) on shares of Northern Oil and Gas in a research report on Friday, May 22nd. Bank of America upped their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Piper Sandler upped their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Finally, Citigroup decreased their target price on shares of Northern Oil and Gas from $39.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Northern Oil and Gas currently has an average rating of "Hold" and an average target price of $33.00.

Northern Oil and Gas Stock Up 3.1%

Shares of NYSE:NOG opened at $21.38 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. Northern Oil and Gas has a 1-year low of $20.18 and a 1-year high of $32.62. The company's fifty day moving average is $24.90 and its two-hundred day moving average is $24.77. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -3.36 and a beta of 0.68.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.03. The company had revenue of $5.03 million for the quarter, compared to analysts' expectations of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The firm's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.80 annualized dividend and a yield of 8.4%. Northern Oil and Gas's dividend payout ratio (DPR) is presently -28.26%.

Hedge Funds Weigh In On Northern Oil and Gas

Several large investors have recently bought and sold shares of NOG. Deprince Race & Zollo Inc. acquired a new position in Northern Oil and Gas during the 4th quarter valued at about $25,492,000. First Trust Advisors LP increased its stake in Northern Oil and Gas by 116.8% during the 1st quarter. First Trust Advisors LP now owns 1,167,971 shares of the company's stock valued at $34,140,000 after buying an additional 629,197 shares during the period. Bridgeway Capital Management LLC acquired a new position in Northern Oil and Gas during the 3rd quarter valued at about $11,295,000. SG Americas Securities LLC increased its stake in Northern Oil and Gas by 499.9% during the 4th quarter. SG Americas Securities LLC now owns 421,809 shares of the company's stock valued at $9,056,000 after buying an additional 351,490 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in Northern Oil and Gas during the 1st quarter valued at about $8,115,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Trending Headlines about Northern Oil and Gas

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

• Positive Sentiment: Zacks Research increased its earnings estimates for several 2026–2028 periods, including FY2026 to $3.07 per share from $2.74 and FY2027 to $3.49 from $3.15, indicating improving profit outlook for Northern Oil and Gas NYSE: NOG.
• Positive Sentiment: Shorter-term forecast upgrades for Q2 2026, Q3 2026, Q4 2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, and Q1 2028 suggest analysts are becoming more constructive on the company’s near- and medium-term earnings trajectory.
• Neutral Sentiment: The updates are analyst estimate revisions rather than a new company announcement, so the impact on the share price may be limited unless future results confirm the higher expectations.

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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