Zacks Research Issues Positive Forecast for NOG Earnings

Key Points

• Zacks Research raised its Q2 2026 EPS estimate for Northern Oil and Gas to $0.62 from $0.50, reflecting a more positive outlook on near-term earnings. It also published projections for several future periods, including FY2027 EPS of $3.15.
• Northern Oil and Gas recently beat quarterly earnings expectations, reporting $0.74 EPS versus the $0.71 consensus, though revenue came in well below estimates and declined 6.2% year over year.
• Wall Street remains mixed on the stock: analysts currently hold a consensus “Hold” rating with an average price target of $31.33, while NOG shares were trading around $23.35 and the company also announced a quarterly dividend of $0.45 per share.

Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) - Stock analysts at Zacks Research upped their Q2 2026 earnings per share estimates for shares of Northern Oil and Gas in a research report issued to clients and investors on Tuesday, May 12th. Zacks Research analyst Team now anticipates that the company will earn $0.62 per share for the quarter, up from their prior estimate of $0.50. The consensus estimate for Northern Oil and Gas' current full-year earnings is $3.04 per share. Zacks Research also issued estimates for Northern Oil and Gas' Q3 2026 earnings at $0.60 EPS, Q1 2027 earnings at $1.00 EPS, Q4 2027 earnings at $0.75 EPS, FY2027 earnings at $3.15 EPS and FY2028 earnings at $3.02 EPS.

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

A number of other analysts also recently issued reports on the company. Weiss Ratings downgraded Northern Oil and Gas from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 4th. Piper Sandler raised their price target on 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. Citigroup lowered their price target on 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. Morgan Stanley restated an "underweight" rating on shares of Northern Oil and Gas in a research report on Friday, March 27th. Finally, Mizuho set a $29.00 price target on Northern Oil and Gas in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.33.

Northern Oil and Gas Stock Down 2.2%

Shares of NOG opened at $23.35 on Thursday. The company has a market cap of $2.47 billion, a PE ratio of -3.66 and a beta of 0.75. The business has a fifty day moving average of $27.27 and a 200 day moving average of $24.65. Northern Oil and Gas has a 52-week low of $20.18 and a 52-week high of $32.62. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of Northern Oil and Gas by 14.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company's stock valued at $66,000 after buying an additional 400 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Northern Oil and Gas by 18.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company's stock valued at $69,000 after buying an additional 507 shares during the period. Virtus Investment Advisers LLC increased its stake in shares of Northern Oil and Gas by 8.4% during the fourth quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company's stock valued at $159,000 after buying an additional 572 shares during the period. First National Advisers LLC increased its stake in shares of Northern Oil and Gas by 4.8% during the third quarter. First National Advisers LLC now owns 12,665 shares of the company's stock valued at $314,000 after buying an additional 580 shares during the period. Finally, Isthmus Partners LLC increased its stake in shares of Northern Oil and Gas by 0.8% during the first quarter. Isthmus Partners LLC now owns 82,358 shares of the company's stock valued at $2,407,000 after buying an additional 619 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, June 29th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, June 29th. This represents a $1.80 annualized dividend and a dividend yield of 7.7%. Northern Oil and Gas's dividend payout ratio (DPR) is currently -28.26%.

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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