NOG Stock: Price, Forecast, Financials & AI Analysis

High

Open

VWAP

Vol

Mkt Cap

Low

Amount

EV/EBITDA(TTM)

Total Shares

EV/OCF(TTM)

P/S(TTM)

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q4

FY2026Q1

FY2026Q2

535.44M

-1.84%

0.906

-18.37%

512.60M

-11.15%

0.790

-40.61%

519.25M

-26.54%

0.655

-52.18%

Estimates Revision

The market is revising Upward the revenue expectations for Northern Oil and Gas, Inc. (NOG) for FY2025, with the revenue forecasts being adjusted by 1.78% over the past three months. During the same period, the stock price has changed by -5.45%.

Revenue Estimates for FY2025

Revise Upward

+1.78%

In Past 3 Month

EPS Estimates for FY2025

Revise Upward

+1.47%

In Past 3 Month

Stock Price

Go Down

-5.45%

In Past 3 Month

8 Analyst Rating

Wall Street analysts forecast NOG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NOG is 28.86 USD with a low forecast of 25.00 USD and a high forecast of 34.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

4 Buy

3 Hold

1 Sell

Moderate Buy

Current: 0.000

Low

25.00

Averages

28.86

High

34.00

Current: 0.000

Low

25.00

Averages

28.86

High

34.00

Mizuho

Neutral

maintain

$28 -> $30

2025-12-12

Reason

Mizuho

Price Target

$28 -> $30

2025-12-12

maintain

Neutral

Reason

Mizuho raised the firm's price target on Northern Oil and Gas to $30 from $28 and keeps a Neutral rating on the shares. The firm adjusted ratings and targets in the exploration and production group as part of its 2026 outlook. While sentiment for U.S. oil and gas names is negative on oil market oversupply and high gas storage, there is "underappreciated value" in the group, particularly in exploration and production on longer-term fundamentals that could start becoming realized in 2026, the analyst tells investors in a research note. Mizuho suggests a reallocation of risk toward oil E&Ps with a selective bias in gas stocks. It turned more neutral on refining.

Citi

Buy

downgrade

$32 -> $28

2025-10-20

Reason

Citi

Price Target

$32 -> $28

2025-10-20

downgrade

Buy

Reason

Citi lowered the firm's price target on Northern Oil and Gas to $28 from $32 and keeps a Buy rating on the shares. The firm updated the company's model into earnings to reflect macroeconomic uncertainty and pricing volatility.

Morgan Stanley

Devin McDermott

Underweight

downgrade

$27 -> $26

2025-10-14

Reason

Morgan Stanley

Devin McDermott

Price Target

$27 -> $26

2025-10-14

downgrade

Underweight

Reason

Morgan Stanley analyst Devin McDermott lowered the firm's price target on Northern Oil and Gas to $26 from $27 and keeps an Underweight rating on the shares. The firm is updating its price targets for Energy in the North America stock under its coverage, the analyst tells investors. The firm expects "clean" Q3 operational updates, but cash flow will likely be generally below consensus due to weaker gas and NGL realizations.

Mizuho

Neutral

downgrade

$32 -> $28

2025-09-15

Reason

Mizuho

Price Target

$32 -> $28

2025-09-15

downgrade

Neutral

Reason

Mizuho lowered the firm's price target on Northern Oil and Gas to $28 from $32 and keeps a Neutral rating on the shares. The firm adjusted ratings in the integrated oil space after updating its commodity price outlook and valuations. Mizuho still sees a positive skew in gas prices over the next 12 months. Oil stocks are pricing in the current strip while gas stocks offer a 10%-15% discount based on implied commodity prices, the analyst tells investors in a research note. As such, the firm maintains a relative preference for large-cap, gas exploration and production companies with \"selective exposure\" to core oil names.

William Blair

NULL

Outperform

initiated

2025-08-25

Reason

William Blair

Price Target

2025-08-25

initiated

NULL

Outperform

Reason

William Blair initiated coverage of Northern Oil and Gas with an Outperform rating. The firm says the company's non-operated status allows it to "largely corner" the non-operated upstream acquisition market. Northern has industry-leading economies of scale across four core U.S. basins and has completed over 15 accretive acquisitions since 2021, the analyst tells investors in a research note.

Morgan Stanley

Equal Weight -> Underweight

downgrade

$29 -> $27

2025-08-18

Reason

Morgan Stanley

Price Target

$29 -> $27

2025-08-18

downgrade

Equal Weight -> Underweight

Reason

Morgan Stanley downgraded Northern Oil and Gas to Underweight from Equal Weight with a price target of $27, down from $29. The firm is shifting to a more defensive stance in oil exploration and production following the stocks' outperformance relative to oil over the past two weeks. Oil fundamentals still screen as soft into year end, the analyst tells investors in a research note. Morgan Stanley says Northern Oil reduced growth expectations Q2 and further downside is possible if oil moves lower.

Valuation Metrics

The current forward P/E ratio for Northern Oil and Gas Inc (NOG.N) is 7.15, compared to its 5-year average forward P/E of 5.43. For a more detailed relative valuation and DCF analysis to assess Northern Oil and Gas Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

5Y Average PE

5.43

Current PE

7.15

Overvalued PE

7.11

Undervalued PE

3.75

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

5Y Average EV/EBITDA

3.15

Current EV/EBITDA

3.09

Overvalued EV/EBITDA

3.52

Undervalued EV/EBITDA

2.78

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

5Y Average PS

1.36

Current PS

1.01

Overvalued PS

1.63

Undervalued PS

1.08

Financials

Annual

Quarterly

N/A

Total Revenue

N/A

Operating Profit

N/A

Net Income after Tax

N/A

EPS - Diluted

N/A

Free Cash Flow

N/A

Gross Profit Margin - %

N/A

FCF Margin - %

N/A

Net Margin - %

N/A

ROIC

Trading Trends

Insider

Insiders are Neutral. There are no significant trading trends over the last month.

Sold

Bought

Hedge Fund

Hedge Funds are Neutral. There are no significant trading trends over the last quarter.

Sold

Bought

Congress Trading

Congress are Neutral. There are no significant trading trends over the last month.

Sold

Bought

Insider

Insiders are Neutral. There are no significant trading trends over the last month.

Sold

Bought

NOG News & Events

Events Timeline

No data

News

2.0

2025-12-29Benzinga

Lucid Group Inc. Stock Short Interest Hits 54.51%

8.0

2025-12-17MarketWatch

Top 10 Favorite Dividend Stocks for 2026 Offering Yields of 4% or Higher

5.0

2025-12-15NASDAQ.COM

Directors' Major Purchases: Easley Invests $600.8K in NOG

People Also Watch

Frequently Asked Questions

What is Northern Oil and Gas Inc (NOG) stock price today?

The current price of NOG is 21.87 USD — it has increased 0.88 % in the last trading day.

What is Northern Oil and Gas Inc (NOG)'s business?

Northern Oil and Gas, Inc. is a real asset company that focuses on acquiring and investing in non-operated minority working and mineral interests in the hydrocarbon producing basins. The Company is engaged as a non-operator in the acquisition, exploration, development and production of oil and natural gas properties in the United States, primarily in the Williston Basin, the Permian Basin, the Appalachian Basin and the Uinta Basin. Its portfolio comprises 300,000 acres of low-breakeven land with over 10,000 wells. Diversified by basin and across commodity type, its wells are operated by over 100 public and private operators. It engages in oil and natural gas exploration and production by participating on a proportionate basis alongside third-party interests in wells drilled and completed in spacing units that include its acreage. In addition, it acquires wellbore-only working interests in wells in which it does not hold the underlying leasehold interests from third parties.

What is the price predicton of NOG Stock?

What is Northern Oil and Gas Inc (NOG)'s revenue for the last quarter?

Northern Oil and Gas Inc revenue for the last quarter amounts to 485.87M USD, decreased -5.75 % YoY.

What is Northern Oil and Gas Inc (NOG)'s earnings per share (EPS) for the last quarter?

Northern Oil and Gas Inc. EPS for the last quarter amounts to -1.33 USD, decreased -144.93 % YoY.

What changes have occurred in the market's expectations for Northern Oil and Gas Inc (NOG)'s fundamentals?

How many employees does Northern Oil and Gas Inc (NOG). have?

Northern Oil and Gas Inc (NOG) has 49 emplpoyees as of January 11 2026.

What is Northern Oil and Gas Inc (NOG) market cap?

Today NOG has the market capitalization of 2.13B USD.