Northern Oil and Gas Inc.
We are an independent energy company engaged as a non-operator in the acquisition, exploration, development and production of oil and natural gas properties in the United States, primarily in the Williston Basin, the Permian Basin, the Appalachian Basin and the Uinta Basin. We believe the location, size and concentration of our acreage positions in some of North America s leading uncon…
$27.44
-$0.10 (-0.36%)
EOD Oct 21, 2026
Operating margin is thin at 9.93%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 11.2%, still solid. Margins contracted 27.7pp, which offsets some of the top-line progress.
ROIC dropped from 15.80% to 4.82%, capital efficiency is deteriorating. Operating margin contracted 27.7pp YoY, cost discipline may be slipping.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$1.92B
▲ +11.2% YoY
Net Income (TTM)
-$486M
▼ -92.6% YoY
Op. Margin
-24.10%
▼ -27.7pp YoY
ROIC
-8.03%
▼ -11.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.38B
▲ +6.8% YoY
Op. Cash Flow (TTM)
$1.38B
▲ +6.9% YoY
Net Debt
$2.68B
Cash & Equiv.
$48M
5Y CAGR: +35.0%
5Y CAGR: +35.3%
Continue Research
SourceComputed from the 10-Q filed 3 Aug 2026, covering the period ending 30 Jun 2026, as reported to the SEC. Data last refreshed 12 Oct 2026. How this is calculated.
Price from market data, last close as of 21 Oct 2026. Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.
Is Northern Oil and Gas (NOG) overvalued?
Northern Oil and Gas (NOG) trades below a two-stage DCF intrinsic value of about $620.14 per share, so at $27.44 the stock looks undervalued (2,160.0% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Northern Oil and Gas scores 45/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 6.1%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Northern Oil and Gas's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $620.14 per share for NOG, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $465.11. At today's $27.44, that puts the stock about 2,160.0% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Northern Oil and Gas a high-quality business?+
Northern Oil and Gas scores 45 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a -24.1% operating margin and a -8.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Northern Oil and Gas (NOG) pay a dividend, and how much?+
Yes, Northern Oil and Gas pays a regular dividend of about $1.66 per share per year (typically in quarterly installments), a yield of roughly 6.1% at the current price. Northern Oil and Gas has grown the dividend at roughly 143.4% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For NOG's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Northern Oil and Gas a good stock to buy right now?+
That depends on valuation and quality together, not either alone. NOG currently trades below its estimated intrinsic value and scores 45/100 on quality (mixed). It also yields about 6.1%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.
Related stocks: Crude Petroleum & Natural Gas
Spot a number that looks wrong? Check it in NOG's SEC filings or
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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