Northern Oil and Gas, Inc. (NOG) is a publicly traded company in the Energy — Oil & Gas Exploration & Production industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Northern Oil and Gas, Inc. operates as an independent energy enterprise within the United States. The company's core business revolves around the entire lifecycle of crude oil and natural gas properties, from their acquisition and exploration to their development and eventual production. Its primary operations are concentrated in significant U.S. shale plays, namely the Williston, Appalachian, and Permian Basins.
Is Northern Oil and Gas, Inc. stock overvalued or undervalued in 2026?
As of October 30, 2026, Northern Oil and Gas, Inc. (NOG) trades at $28.35 with no positive earnings over the last twelve months, according to Kaplio. No valuation verdict: it has no earnings to calculate a P/E from.
Kaplio overview: Northern Oil and Gas, Inc.
Market cap $3B · 52 weeks $17 – $31 (4 % below the high) · P/E no earnings · 2027 est. P/E 6.4× · Dividend 6.3 % · 4 years rising · Next earnings November 5, 2026 · expected EPS $1.09 · Closing price, Oct 30 · accounts published Aug 6.
- Valuation: EV/EBITDA 17.7× (no earnings).
- Business: 5-year ROIC 17.1 % (excellent).
- Balance sheet: Net debt/EBITDA 2.3× (fragile).
- Earnings: 6 of 8 (uneven).
What would it be worth at its usual multiples?
No valuation verdict: it has no earnings to calculate a P/E from.
In cyclicals the P/E misleads: today's earnings are not the normal ones.
What matters in energy: 2 of 7 pass
- FCF yield −7.6 %, fails.
- Positive FCF through the cycle 3 of 10 fiscal years, fails.
- Net debt / EBITDA 2.3×, fails.
- Capex / Revenue 59.8 %, fails.
- EV/EBITDA vs own 10y 17.7×, fails.
- 5y avg ROIC 17.1 %, passes.
- Dividend coverage (FCF / div) 1.5×, passes.
- P/E read in reverse (cyclicals) 53.7×, info.
Against its peers (reference peers) — Northern Oil and Gas, Inc.: P/E —; EV/EBITDA 17.7×; ROIC 10.4 %; $3.0B. Talos Energy Inc. (P/E —; EV/EBITDA 5.4×; ROIC 1.1 %; $3.0B), Baytex Energy Corp. (P/E —; EV/EBITDA 5.5×; ROIC 6.6 %; $3.8B), BKV Corporation (P/E 7.6×; EV/EBITDA 5.6×; ROIC 3.8 %; $2.3B).
Dividend
fragile · Yield 6.3 % ($1.77 per share in 2025) · Years raising it ≥ 4 · paying since 2021 · Free cash flow coverage -1.6× · With $1,000 invested today you'd collect $63.50 a year ($5.29 a month).
Profitability
| Return on Equity | -23.85% |
| Return on Invested Capital | 10.41% |
| Return on Assets | -8.34% |
| Gross Margin | 34.45% |
| Operating Margin | 32.01% |
| Net Margin | -21.83% |
Financial Health
| Debt / Equity | 1.37 |
| Current Ratio | 0.80 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 1.28 |
Price Performance
| 1 month | +18.97% |
| 3 months | +37.16% |
| Year-to-date | +32.04% |
| 1 year | +28.11% |
| 3 years | -26.73% |
| 5 years | +16.76% |
| 10 years | +71.82% |
Dividend History
Paid in the last 12 months: $1.8000 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-09-29 | $0.4500 |
| 2026-06-29 | $0.4500 |
| 2026-03-30 | $0.4500 |
| 2025-12-30 | $0.4500 |
| 2025-09-29 | $0.4500 |
| 2025-06-27 | $0.4500 |
| 2025-03-28 | $0.4500 |
| 2024-12-30 | $0.4200 |
| 2024-09-27 | $0.4200 |
| 2024-06-27 | $0.4000 |
Amounts adjusted for stock splits.
Related companies: TRMD · CRGY · SM · BTE · BKV · DHT · TNK
Explore sector: Energy · Oil & Gas Exploration & Production
More sections of NOG: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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