Northern Oil and Gas, Inc. (NOG) Stock

Northern Oil and Gas, Inc. (NOG) is a Energy stock trading at $26.91 (as of 2026-08-20), with a market capitalization of $2.87B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Northern Oil and Gas, Inc. acquires, explores, develops, and produces crude oil and natural gas in the United States, holding interests in the Williston Basin, Appalachian Basin, and Permian Basin. The company focuses on working interests in producing wells and manages proved reserves associated with these properties.

Understand Northern Oil and Gas, Inc.: how it makes money

Northern Oil and Gas acquires, explores, develops, and produces crude oil and natural gas in the United States, primarily earning from operating interests in producing wells across the Williston Basin, Appalachian Basin, and Permian Basin.

Profit is primarily driven by producing crude oil and natural gas from the company’s working interests in producing wells and its reserve base across its key U.S. basins.

Business quality (Weak): The business model is asset based (producing wells and proved reserves in specific U.S. basins), so performance is closely tied to the output and durability of those producing properties.

Bull case

  • U.S. producing asset base: As of December 31, 2021, the company owned working interests in 7,436 gross producing wells.
  • Large proved reserve base (as reported): As of December 31, 2021, it reported proved reserves of 287,682 million barrels of oil equivalent.
  • Geographic and basin mix within the U.S: The company primarily holds interests in three U.S. basins, the Williston Basin, the Appalachian Basin, and the Permian Basin.

Bear case

  • Asset concentration risk in specific basins: Because the company primarily holds interests in the Williston, Appalachian, and Permian basins, problems affecting those areas or the producing wells could have an outsized impact.
  • Dependence on producing wells and reserves (as of the latest disclosed date): The company’s scale is tied to its producing wells and proved reserves reported as of December 31, 2021, which may not translate into stable future performance.
Valuation — source: SEC EDGAR (first-party)
Price$26.91
Market Cap$2.87B
Price / Book1.44
Price / Sales2.19
Dividend Yield6.3%
DCF Value (model)$469.92
DCF Upside vs Price1646.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$2.48B
Net Margin1.6%
Return on Equity-24.4%
Debt / Equity1.37
Current Ratio0.80
Revenue Growth (YoY)11.2%
EPS Growth (YoY)-92.3%
Financial Health — source: SEC EDGAR
Altman Z-Score1.22 (distress)
Piotroski F-Score7/9 (strong)
Valuation vs Sector & Industry
Sector P/E (Energy)16.8
Industry P/E (Petroleum & Natural Gas)16.7
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($459.46M)
Institutional Holders Tracked10
Congressional Trades (recent)2
Company
SectorEnergy
IndustryPetroleum & Natural Gas
CEONicholas L. O'Grady
Employees49
CountryUS
IPO Date2007-04-13

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NOG earnings history · NOG institutional & insider holders · NOG KPIs & operating metrics · NOG financials · NOG investor presentations & press releases · NOG SEC filings · NOG peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.