Northern Oil And Gas (NOG) AI Stock Analysis

• Market Cap: $2.08B
• Dividend Yield: 8.27%
• Average Volume (3M): 2.09M
• Price to Earnings (P/E): 3.5
• Beta (1Y): 1.01
• Revenue Growth: 2.98%
• EPS Growth: 7.94%
• Country: US
• Employees: 49
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 1.37
• Shares Outstanding: 97,594,680
• 10 Day Avg. Volume: 2,090,205
• 30 Day Avg. Volume: 2,086,664
• PEG Ratio: -0.15
• Price to Book (P/B): 1.60
• Price to Sales (P/S): 1.71
• P/FCF Ratio: -13.10
• Enterprise Value/Market Cap: 2.48
• Enterprise Value/Revenue: 2.32
• Enterprise Value/Gross Profit: 6.19
• Enterprise Value/Ebitda: 2.91
• 1Y Price Target: $28.86
• Price Target Upside: 34.86% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 68 Neutral
• Price Target: $23.50 ▲(9.81% Upside)

The overall stock score of 68 reflects strong financial performance and attractive valuation, tempered by bearish technical indicators. The company's robust revenue growth and profitability are significant strengths, but challenges in cash flow generation and current market trends pose risks.

Positive Factors

Revenue Growth

Strong revenue growth reflects the company's ability to expand its market presence and capitalize on production opportunities, supporting long-term business sustainability.

Free Cash Flow Generation

Consistent free cash flow generation enhances financial flexibility, enabling the company to invest in growth opportunities and manage debt effectively.

Strategic Acquisitions

Strategic acquisitions bolster the company's asset base and revenue potential, leveraging proprietary knowledge to enhance long-term growth prospects.

Negative Factors

Higher Operating Costs

Increasing operating costs can pressure margins and profitability, potentially impacting the company's ability to sustain its competitive position in the long term.

Noncash Impairment Charge

Significant impairment charges can indicate asset devaluation, affecting the company's financial health and potentially limiting future investment capabilities.

Cash Flow Challenges

Challenges in free cash flow generation may constrain the company's ability to finance growth initiatives and manage its debt obligations effectively.

Northern Oil And Gas Business Overview & Revenue Model

Company Description

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.

How the Company Makes Money

Northern Oil and Gas generates revenue primarily through the sale of crude oil, natural gas, and natural gas liquids produced from its properties. The company's revenue model is based on the production and sale of these hydrocarbons, where it earns income from the extraction and sale of these resources at prevailing market prices. Key revenue streams include the direct sale of oil and gas, as well as revenues from joint venture arrangements where Northern Oil and Gas partners with other companies to develop specific properties. Additionally, the company benefits from cost management strategies and operational efficiencies, which enhance profitability. Significant partnerships with other operators and service providers also contribute to its ability to capitalize on production opportunities and market fluctuations, thus bolstering its earnings potential.

Northern Oil And Gas Financial Statement Overview

Summary

Northern Oil And Gas shows strong revenue growth and profitability, supported by effective cost management and leverage improvements. However, challenges with free cash flow generation could impact its ability to finance growth and manage debt.

Income Statement

Northern Oil And Gas has demonstrated strong revenue growth with a TTM revenue growth rate of 62.4%, indicating robust expansion. The company maintains healthy profitability with a net profit margin of 27.38% and an EBIT margin of 43.77%. However, the gross profit margin has decreased compared to previous years, which could indicate rising costs or pricing pressures.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.98, showing better leverage management compared to past years. Return on equity is strong at 25.77%, reflecting efficient use of equity. However, the equity ratio is relatively low, suggesting a higher reliance on debt financing, which could pose risks in volatile market conditions.

Cash Flow

Operating cash flow is robust, with a high operating cash flow to net income ratio of 2.96. However, the negative free cash flow and its growth rate indicate challenges in generating cash after capital expenditures. The negative free cash flow to net income ratio highlights potential issues in cash generation relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.22B	2.16B	1.91B	1.99B	975.09M	324.07M
Gross Profit	833.32M	835.98M	913.86M	1.32B	586.49M	15.83M
EBITDA	1.77B	1.58B	1.62B	1.11B	206.44M	-685.58M
Net Income	608.71M	520.31M	922.97M	773.24M	6.36M	-906.04M
Balance Sheet
Total Assets	5.70B	5.60B	4.48B	2.88B	1.52B	872.09M
Cash, Cash Equivalents and Short-Term Investments	25.86M	8.93M	8.20M	2.53M	9.52M	1.43M
Total Debt	2.37B	2.37B	1.84B	1.53B	803.44M	944.84M
Total Liabilities	3.29B	3.28B	2.44B	2.13B	1.31B	1.10B
Stockholders Equity	2.41B	2.32B	2.05B	745.26M	215.13M	-223.30M
Cash Flow
Free Cash Flow	-233.33M	-283.19M	-661.93M	-431.36M	-197.32M	47.76M
Operating Cash Flow	1.45B	1.41B	1.18B	928.42M	396.47M	331.69M
Investing Cash Flow	-1.64B	-1.67B	-1.86B	-1.40B	-634.43M	-283.93M
Financing Cash Flow	208.81M	266.83M	684.69M	467.37M	246.06M	-62.40M

Northern Oil And Gas Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 21.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NOG, the sentiment is Negative. The current price of 21.4 is below the 20-day moving average (MA) of 23.65, below the 50-day MA of 24.38, and below the 200-day MA of 27.73, indicating a bearish trend. The MACD of -1.06 indicates Positive momentum. The RSI at 35.08 is Neutral, neither overbought nor oversold. The STOCH value of 11.35 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NOG.

Northern Oil And Gas Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CIVI	74 Outperform	$2.54B	3.47	11.31%	7.30%	0.24%	-9.19%
SM	72 Outperform	$2.44B	3.01	19.27%	3.90%	28.20%	1.63%
BSM	70 Outperform	$2.67B	10.93	24.31%	11.09%	-8.06%	-22.61%
NOG	68 Neutral	$2.08B	3.51	27.17%	8.27%	2.98%	7.94%
CRGY	68 Neutral	$2.03B	―	0.70%	5.96%	32.84%	-755.17%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
BKV	57 Neutral	$1.81B	―	-1.36%	―	13.20%	55.44%

Northern Oil And Gas Corporate Events

Northern Oil and Gas Issues $725M Senior Notes

On October 1, 2025, Northern Oil and Gas, Inc. issued $725 million in 7.875% Senior Notes due 2033, with interest payable semi-annually starting April 2026. The company also announced the results of its tender offer for its 8.125% Senior Notes due 2028, accepting $684.943 million of these notes for payment using proceeds from the new 2033 Notes issuance. This financial maneuver is expected to impact the company’s debt structure and potentially improve its financial flexibility.

The most recent analyst rating on (NOG) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Northern Oil And Gas stock, see the NOG Stock Forecast page.

Northern Oil And Gas Prices $725M Senior Notes

On September 22, 2025, Northern Oil and Gas, Inc. announced the pricing of a private placement of $725 million in new 7.875% senior notes due 2033. The proceeds from this offering will be used to fund the purchase and potential redemption of the company’s outstanding 8.125% senior notes due 2028, as well as for general corporate purposes. This strategic financial maneuver aims to optimize the company’s debt structure and potentially improve its financial flexibility.

The most recent analyst rating on (NOG) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Northern Oil And Gas stock, see the NOG Stock Forecast page.

Northern Oil And Gas Announces Cash Tender Offer

On September 22, 2025, Northern Oil and Gas, Inc. announced the commencement of a cash tender offer for any and all of its outstanding 8.125% senior notes due 2028. The offer is contingent upon the successful completion of a concurrent bond offering and the receipt of net proceeds. Additionally, the company plans to offer $725 million in new senior notes due 2033 in a private offering, subject to market conditions. This strategic financial maneuver aims to optimize the company’s debt structure and potentially impact its financial stability and market positioning.

The most recent analyst rating on (NOG) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Northern Oil And Gas stock, see the NOG Stock Forecast page.

Northern Oil and Gas Reports Strong Q2 2025 Results

Northern Oil and Gas, Inc. is a real asset company focused on acquiring and investing in non-operated minority working and mineral interests in the premier hydrocarbon producing basins within the contiguous United States.

Northern Oil and Gas Earnings Call: Balancing Optimism and Caution

During the recent earnings call, Northern Oil and Gas (NOG) conveyed a mix of optimism and caution. The company celebrated its robust free cash flow generation and operational achievements, particularly in the Uinta Basin, alongside record gas volumes. However, challenges such as a sequential decline in oil production, increased lease operating expenses, and a significant impairment charge were acknowledged. Despite these hurdles, NOG’s strong liquidity position and recent credit upgrade are positive indicators, though market volatility and reduced production guidance suggest a cautious outlook.