Zacks Research Issues Negative Outlook for NOG Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Equities researchers at Zacks Research cut their Q1 2026 earnings per share estimates for Northern Oil and Gas in a report issued on Wednesday, March 11th. Zacks Research analyst Team now anticipates that the company will post earnings of $0.67 per share for the quarter, down from their prior estimate of $0.73. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.18 per share. Zacks Research also issued estimates for Northern Oil and Gas’ Q2 2026 earnings at $0.45 EPS, Q3 2027 earnings at $0.59 EPS, Q4 2027 earnings at $0.62 EPS and FY2028 earnings at $3.95 EPS.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.12. The firm had revenue of $610.18 million during the quarter, compared to the consensus estimate of $524.98 million. Northern Oil and Gas had a return on equity of 19.74% and a net margin of 1.57%.The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share.

NOG has been the topic of several other research reports. Piper Sandler lifted their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley set a $24.00 price objective on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Friday, January 23rd. Mizuho set a $29.00 price objective on Northern Oil and Gas in a report on Wednesday, January 21st. Royal Bank Of Canada dropped their target price on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.14.

Northern Oil and Gas Stock Down 3.4%

Shares of Northern Oil and Gas stock opened at $27.62 on Thursday. The company has a market cap of $2.69 billion, a P/E ratio of 83.68 and a beta of 0.96. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.09 and a current ratio of 1.09. Northern Oil and Gas has a one year low of $19.88 and a one year high of $32.62. The firm has a fifty day moving average of $25.05 and a two-hundred day moving average of $23.96.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.5%. The ex-dividend date is Monday, March 30th. Northern Oil and Gas’s dividend payout ratio is presently 545.45%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. DLD Asset Management LP increased its holdings in Northern Oil and Gas by 42.9% during the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock valued at $708,750,000 after acquiring an additional 7,500,000 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at approximately $25,492,000. Tributary Capital Management LLC grew its position in shares of Northern Oil and Gas by 146.3% in the third quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company’s stock valued at $32,544,000 after purchasing an additional 779,492 shares during the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Northern Oil and Gas during the 3rd quarter worth approximately $11,295,000. Finally, SG Americas Securities LLC increased its stake in shares of 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 worth $9,056,000 after purchasing an additional 351,490 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Key Northern Oil and Gas News

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

• Positive Sentiment: Citigroup raised its price target to $34 and reiterated a “buy” view, signaling meaningful upside vs. the current market level. Citigroup $34 PT
• Positive Sentiment: Piper Sandler lifted its target to $32 (while keeping a “neutral” rating), which also increases the street upside expectation. Piper Sandler $32 PT
• Neutral Sentiment: The company announced a proposed underwritten public offering to raise up to $200M (with a 30‑day option for an additional $30M), signaling a capital‑raising move that could fund activities or balance‑sheet needs. Proposed Offering Announcement
• Negative Sentiment: The offering was priced (7,207,208 shares, plus underwriter option), confirming dilution and immediate share overhang. That concretely increases share supply and can pressure the stock. Offering Priced
• Negative Sentiment: Market reaction to the offering was negative — news reports show the stock fell after the offering was launched/priced, reflecting investor concern over dilution and near‑term supply. MSN: Stock Sinks After Offering
• Negative Sentiment: Zacks Research cut multiple near‑term EPS estimates (Q1/Q2/Q3/Q4 windows noted) and issued lower quarterly forecasts, which reduces short‑term earnings visibility and can weigh on multiples. Zacks Cuts EPS Estimates

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.