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NOG stock logo

NOG

Northern Oil and Gas, Inc.

$28.29
0.69
 (2.5%)
Exchange:  NYSE
Market Cap:  2.752B
Shares Outstanding:  235799
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Energy
Industry:  Oil & Gas Exploration & Production
   
CEO:  James Evans
Full Time Employees:  49
Address: 
4350 Baker Road
Minnetonka
MN
55343
US
Website:  https://www.northernoil.com
Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States. As of December 31, 2021, it owned working interests in 7,436 gross producing wells; and had proved reserves of 287,682 million barrels of oil equivalent. The company is based in Minnetonka, Minnesota.

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Revenue Segmentation

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EPS

Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.

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View full analyst estimates

Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/02/26 — 4 quarter 2025

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue1,907,0092,163,7612,095,059
Gross Profit913,861835,977675,200
EBITDA1,622,4301,579,4351,049,944
Operating Income1,121,862837,831613,868
Net Income922,969520,30838,761

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets4,484,2555,603,8225,409,375
Total Liabilities2,436,5793,283,3873,283,034
Total Stockholders Equity2,047,6762,320,4352,126,341
Total Debt1,835,5542,369,2940
Cash and Cash Equivalents8,1958,93314,299

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow1,183,3211,408,6631,505,288
Capital Expenditure-1,845,25200
Free Cash Flow-661,9311,408,6631,505,288
Net Income922,969038,761
Net Change in Cash5,6677385,366

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2030Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Low)2,252,600.250Full AccessFull AccessFull AccessFull Access
Estimated Revenue (High)2,565,011.547Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Avg)2,423,500Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Low)1,284,667.495Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (High)1,462,836.986Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Avg)1,382,132.349Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Low)384,744.912Full AccessFull AccessFull AccessFull Access
Estimated Net Income (High)455,728.874Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Avg)423,575.843Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Low)59,479.180Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (High)67,728.299Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Avg)63,991.733Full AccessFull AccessFull AccessFull Access
Estimated EPS (Avg)4.270Full AccessFull AccessFull AccessFull Access
Estimated EPS (High)4.590Full AccessFull AccessFull AccessFull Access
Estimated EPS (Low)3.870Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated Revenue)2Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated EPS)1Full AccessFull AccessFull AccessFull Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
2.164B  ?P/S
 (TTM)
: 
1.22
?Net Income
 (TTM)
: 
520.308M  ?P/E
 (TTM)
: 
61.89
?Enterprise Value
 (TTM)
: 
4.947B  ?EV/FCF
 (TTM)
: 
-16.97
?Dividend Yield
 (TTM)
: 
0.07  ?Payout Ratio
 (TTM)
: 
4.47
?ROE
 (TTM)
: 
0.02  ?ROIC
 (TTM)
: 
0.08
?Net Debt
 (TTM)
: 
2.36B  ?Debt/Equity
 (TTM)
: 
1.13
?P/B
 (TTM)
: 
1.13  ?Current Ratio
 (TTM)
: 
1.09

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Full Access for high/low estimates and the interactive table.

Forward P/E 1YFull AccessFull AccessFull AccessFull Access
8.01Full AccessFull AccessFull AccessFull Access

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SWOT Analysis

Strengths (preview)
  • Solid Financial Performance in Q2 2025: As highlighted in the latest earnings call transcript, NOG reported robust financial results for the second quarter of 2025, reflecting strong revenue and operating income. This performance underscores the company’s operational efficiency and ability to generate consistent returns.
  • Positive Free Cash Flow and Operational Cash Flow: Based on cash flow statement data, NOG demonstrates healthy net cash provided by operating activities and positive free cash flow, indicating strong liquidity and the capacity to fund growth initiatives or reduce debt without external financing.
  • Strategic Focus on Acquisitions: The earnings call emphasized NOG’s proactive approach to acquisitions, positioning the company to enhance its asset base and capitalize on market opportunities, which could drive long-term growth.
  • Competitive Valuation Metrics: Current price-to-earnings (P/E) ratio and price-to-sales (P/S) ratio from key metrics suggest NOG is reasonably valued compared to industry averages, while forward P/E estimates indicate potential for sustained investor interest if growth targets are met.

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MARKETSnap estimates NOG intrinsic value between $78.12 – $204.68 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.


Calculate NOG Intrinsic Value

Common questions about NOG valuation

Is Northern Oil and Gas, Inc. (NOG) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for Northern Oil and Gas, Inc. (NOG) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is NOG a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NOG trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is NOG’s P/E ratio?

You can see NOG’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for NOG?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is NOG a good long-term investment?

Whether NOG fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

NOG

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

2.5
MARKETSnap

Trading Metrics:

Open: 28.39   Previous Close: 27.6
Day Low: 27.77   Day High: 28.92
Year Low: 19.88   Year High: 32.62
Price Avg 50: 26.99   Price Avg 200: 25.18
Volume: 2.281M   Average Volume: 2.542M

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NOG full analysis

07/11/2025

Welcome to MARKETSNAP’s SWOT analysis for Northern Oil and Gas, or NOG as it’s known on the ticker. If you’re not familiar with this player in the energy space, let me give you a quick rundown. Northern Oil and Gas is an independent energy company focused on the acquisition, exploration, and development of oil and natural gas properties, primarily in the Williston Basin of North Dakota and Montana. They operate in the heart of the oil and gas industry, part…

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See in Nexus

Relevant news

NOG Publishes 2025 ESG Report
10-04-2026 16:17
NOG Publishes 2025 ESG Report
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11-03-2026 19:57
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11-03-2026 16:10
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Northern Oil And Gas: The Best Money Could Buy Right Now
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