Zacks Research Has Optimistic Outlook of NOG Q2 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Research analysts at Zacks Research lifted their Q2 2026 EPS estimates for shares of Northern Oil and Gas in a report released on Wednesday, June 10th. Zacks Research analyst Team now anticipates that the company will post earnings of $0.68 per share for the quarter, up from their previous forecast of $0.62. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $3.37 per share. Zacks Research also issued estimates for Northern Oil and Gas’ Q3 2026 earnings at $0.74 EPS, Q4 2026 earnings at $0.92 EPS, FY2026 earnings at $3.07 EPS, Q1 2027 earnings at $1.08 EPS, Q2 2027 earnings at $0.82 EPS, Q3 2027 earnings at $0.73 EPS, Q4 2027 earnings at $0.86 EPS, FY2027 earnings at $3.49 EPS and Q1 2028 earnings at $0.93 EPS.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The company had revenue of $5.03 million for the quarter, compared to analysts’ expectations 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 business’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

Several other equities analysts have also recently issued reports on NOG. Johnson Rice cut shares of Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price objective on the stock. in a research note on Wednesday, May 20th. Raymond James Financial cut shares of Northern Oil and Gas from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $37.00 to $35.00 in a research note on Thursday, May 21st. Weiss Ratings cut shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Morgan Stanley reiterated an “underweight” rating and issued a $29.00 target price (up from $28.00) on shares of Northern Oil and Gas in a report on Friday, May 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.00.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $21.38 on Thursday. The firm’s 50 day moving average is $24.90 and its 200-day moving average is $24.77. The stock has a market capitalization of $2.33 billion, a P/E ratio of -3.36 and a beta of 0.68. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. Northern Oil and Gas has a 12-month low of $20.18 and a 12-month high of $32.62.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently -28.26%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NOG. AQR Capital Management LLC boosted its holdings in shares of Northern Oil and Gas by 55.1% in the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $1,233,000 after buying an additional 14,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Northern Oil and Gas by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock worth $1,763,000 after purchasing an additional 1,865 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after purchasing an additional 713 shares during the period. Empowered Funds LLC boosted its holdings in shares of Northern Oil and Gas by 5.0% during the first quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock worth $1,972,000 after purchasing an additional 3,124 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in shares of Northern Oil and Gas by 41.8% during the first quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock worth $1,404,000 after purchasing an additional 13,690 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Northern Oil and Gas

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

• Positive Sentiment: Zacks Research increased its earnings estimates for several 2026–2028 periods, including FY2026 to $3.07 per share from $2.74 and FY2027 to $3.49 from $3.15, indicating improving profit outlook for Northern Oil and Gas (NYSE: NOG).
• Positive Sentiment: Shorter-term forecast upgrades for Q2 2026, Q3 2026, Q4 2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, and Q1 2028 suggest analysts are becoming more constructive on the company’s near- and medium-term earnings trajectory.
• Neutral Sentiment: The updates are analyst estimate revisions rather than a new company announcement, so the impact on the share price may be limited unless future results confirm the higher expectations.

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.