What is Zacks Research’s Forecast for NOG FY2026 Earnings?

Northern Oil and Gas, Inc. (NYSE:NOG) – Analysts at Zacks Research raised their FY2026 earnings estimates for Northern Oil and Gas in a note issued to investors on Tuesday, May 12th. Zacks Research analyst Team now forecasts that the company will earn $2.74 per share for the year, up from their prior forecast of $2.30. 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’ Q4 2026 earnings at $0.78 EPS, Q2 2027 earnings at $0.74 EPS and Q1 2028 earnings at $0.85 EPS.

Other analysts have also issued reports about the stock. Morgan Stanley reissued an “underweight” rating on shares of Northern Oil and Gas in a research report on Friday, March 27th. Citigroup decreased their price target 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. Piper Sandler increased their price target on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Bank of America upped their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings downgraded shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.33.

Northern Oil and Gas Stock Performance

NOG stock opened at $23.35 on Friday. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -3.67 and a beta of 0.75. The firm has a 50-day simple moving average of $27.18 and a two-hundred day simple moving average of $24.66. Northern Oil and Gas has a one year low of $20.18 and a one year high of $32.62. 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 (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. The business had revenue of $5.03 million during the quarter, compared to analyst estimates 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 company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 earnings per share.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Northern Oil and Gas by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 10,873,455 shares of the company’s stock valued at $233,453,000 after acquiring an additional 141,499 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Northern Oil and Gas by 5.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,941,662 shares of the company’s stock valued at $122,563,000 after acquiring an additional 235,869 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Northern Oil and Gas by 9.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,899,017 shares of the company’s stock worth $47,096,000 after buying an additional 158,713 shares during the period. Channing Capital Management LLC increased its holdings in Northern Oil and Gas by 15.7% in the 3rd quarter. Channing Capital Management LLC now owns 1,702,177 shares of the company’s stock worth $42,214,000 after buying an additional 230,899 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Northern Oil and Gas by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,450,294 shares of the company’s stock worth $31,138,000 after buying an additional 105,876 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, June 29th will be issued 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 is -28.26%.

Key Stories Impacting Northern Oil and Gas

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

• Positive Sentiment: Zacks Research raised near-term and medium-term earnings estimates for NOG across several periods, including Q2 2026, Q3 2026, Q4 2026, Q1 2027, Q2 2027, Q4 2027, FY2026 and FY2027. Higher EPS forecasts usually signal improving profitability expectations and can support investor sentiment. Northern Oil and Gas stock page
• Positive Sentiment: Northern Oil and Gas declared a quarterly dividend of $0.45 per share, implying an annualized yield of about 7.7%. A sizable dividend can attract income-focused investors and may help support the share price. Northern Oil and Gas stock page
• Neutral Sentiment: One longer-term estimate was trimmed slightly for FY2028 EPS to $3.02 from $3.06, but that looks minor relative to the broader run of estimate increases. Northern Oil and Gas stock page

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.