Q3 EPS Estimate for Northern Oil and Gas Cut by Analyst

Northern Oil and Gas, Inc. (NYSE:NOG) – Equities research analysts at Zacks Research lowered their Q3 2026 earnings estimates for shares of Northern Oil and Gas in a research report issued to clients and investors on Wednesday, March 11th. Zacks Research analyst Team now anticipates that the company will post earnings of $0.44 per share for the quarter, down from their prior forecast of $0.63. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.18 per share. Zacks Research also issued estimates for Northern Oil and Gas’ Q4 2026 earnings at $0.54 EPS, FY2026 earnings at $2.10 EPS, Q1 2027 earnings at $0.79 EPS, Q2 2027 earnings at $0.52 EPS and FY2027 earnings at $2.53 EPS.

Several other brokerages also recently weighed in on NOG. Royal Bank Of Canada lowered their price target on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Piper Sandler increased their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley set a $24.00 price objective on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Friday, January 23rd. Citigroup lifted their target price on shares of Northern Oil and Gas from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Mizuho set a $29.00 price target on Northern Oil and Gas in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.14.

Northern Oil and Gas Trading Down 0.3%

Shares of NYSE:NOG opened at $27.52 on Friday. The stock’s fifty day moving average price is $25.16 and its 200-day moving average price is $23.96. The company has a market cap of $2.68 billion, a P/E ratio of 83.40 and a beta of 0.96. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $32.62. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Wednesday, February 25th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. The business had revenue of $610.18 million for the quarter, compared to the consensus estimate of $524.98 million. Northern Oil and Gas had a return on equity of 19.74% and a net margin of 1.57%.The company’s revenue was up 18.5% compared to the same quarter last year. During the same period last year, the business posted $1.11 EPS.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, March 30th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, March 30th. Northern Oil and Gas’s payout ratio is 545.45%.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors have recently bought and sold shares of the stock. First Horizon Corp purchased a new stake in Northern Oil and Gas in the 3rd quarter worth $27,000. Laurel Wealth Advisors LLC grew its position in shares of Northern Oil and Gas by 2,736.1% during the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock valued at $29,000 after purchasing an additional 985 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Northern Oil and Gas by 181.0% in 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 last quarter. Global Retirement Partners LLC increased its holdings in shares of Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after purchasing an additional 1,432 shares during the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in shares of Northern Oil and Gas in the fourth quarter worth about $43,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Northern Oil and Gas

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

• Positive Sentiment: Piper Sandler raised its price target to $32 (from $27), signaling ~16% upside versus recent levels and providing some analyst support for the shares. Article Title
• Positive Sentiment: Citigroup set a new $34 price target on NOG, which is another upward-tilted analyst view that can cushion downside from near-term dilution concerns. Article Title
• Positive Sentiment: Zacks Research raised its Q1 2027 EPS estimate to $0.79 (from $0.69), indicating at least one near-term beat expectation that may support quarterly sentiment. MarketBeat: Zacks Research Note
• Neutral Sentiment: Zacks also issued a set of forward-year and quarter estimates (FY2026–FY2028, Q2–Q4 windows) that provide updated modeling inputs for investors; some of these are lower and some higher, so they mainly change conviction rather than the fundamental story. MarketBeat: Zacks Research Notes
• Negative Sentiment: Northern priced an underwritten public offering of 7,207,208 shares on March 11 and granted the underwriter a 30‑day option for up to 1,081,081 additional shares — a clear near‑term dilution overhang that typically pressures the stock. Business Wire: Pricing of Public Offering
• Negative Sentiment: The company announced completion of the public equity offering, confirming the dilution is moving forward and removing uncertainty about whether it would proceed. TipRanks: Offering Completed
• Negative Sentiment: Multiple Zacks Research cuts across Q2–Q4 2026 and FY2026–FY2027 lowered forward EPS projections (several quarter estimates materially trimmed), which increases downside risk to consensus earnings and share valuation. MarketBeat: Analyst Estimate Changes
• Negative Sentiment: Market reaction was immediate: headlines noted the stock sank after the offering launch — short‑term selling pressure is consistent with dilution and estimate cuts. MSN: Market Reaction

Northern Oil and Gas Company Profile

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.