(NOG) Northern Oil & Gas - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US6655313079

Crude Oil, Natural Gas

Stock: Oil & Gas Exploration & Production
Age 18.8y

MCap 2,171m
Avg Vol 1.94M (42.3M USD)

Beta 1.648
Volatility 42.11%

EPS (Earnings per Share)

EPS CAGR: -48.38%
EPS Trend: -71.3%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 10.66%
Rev. Trend: 59.7%

Last SUE: -1.01
Qual. Beats: 0

Dividends

Dividend Yield	6.87%
Yield on Cost 5y	19.07%
Yield CAGR 5y	70.10%
Payout Consistency	100.0%
Payout Ratio	40.3%

Risk via 5d forecast
Volatility	42.1%
Value at Risk 5%th	69.4%
Relative Tail Risk	0.17%

Reward TTM
Sharpe Ratio	-0.87
Alpha	-70.09
CAGR/Max DD	-0.15

Character TTM
Hurst Exponent	0.406
Beta	1.648
Beta Downside	2.164

Drawdowns 3y
Max DD	51.36%
Mean DD	18.26%
Median DD	12.99%

Description: NOG Northern Oil & Gas January 10, 2026

Northern Oil & Gas Inc. (NYSE: NOG) is an independent U.S. energy firm that acquires, explores, develops, and produces crude oil and natural-gas assets across the lower 48 states. Founded in 2006, the company is headquartered in Minnetonka, Minnesota, and trades as a common-stock under the GICS sub-industry “Oil & Gas Exploration & Production.”

Key recent metrics: (1) Proven reserves of roughly 150 million barrels of oil equivalent (MMboe) as of Q3 2024, (2) cash-flow conversion around 70 % of net income, and (3) net-debt-to-EBITDA of ≈ 2.2×, indicating a relatively low leverage profile for an E&P player. The firm’s earnings are especially sensitive to U.S. Henry Hub natural-gas prices and WTI-to-natural-gas spread dynamics, both of which are driven by macro-level demand shifts, inventory levels, and Federal Reserve monetary policy.

If you want a data-rich, side-by-side comparison of NOG’s valuation and operational performance, a quick browse of ValueRay’s analyst toolkit could be a useful next step.

Piotroski VR‑10 (Strict, 0-10) 5.0

Net Income (181.2m TTM) > 0 and > 6% of Revenue (6% = 131.6m TTM)

FCFTA -0.03 (>2.0%) and ΔFCFTA -4.77pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 2.15% (prev 4.56%; Δ -2.42pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.27 (>3.0%) and CFO 1.48b > Net Income 181.2m (YES >=105%, WARN >=100%)

Net Debt (2.31b) to EBITDA (1.23b) ratio: 1.88 <= 3.0 (WARN <= 3.5)

Current Ratio 1.10 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (97.1m) change vs 12m ago -3.58% (target <= -2.0% for YES)

Gross Margin 34.86% (prev 41.54%; Δ -6.69pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 41.58% (prev 42.74%; Δ -1.16pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 2.34 (EBITDA TTM 1.23b / Interest Expense TTM 176.5m) >= 6 (WARN >= 3)

Altman Z'' 1.09

(A) 0.01 = (Total Current Assets 542.5m - Total Current Liabilities 495.3m) / Total Assets 5.49b

(B) 0.10 = Retained Earnings (Balance) 552.0m / Total Assets 5.49b

(D) 0.17 = Book Value of Equity 552.5m / Total Liabilities 3.25b

Total Rating: 1.09 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 49.35

1. Piotroski 5.0pt

2. FCF Yield -3.72%

3. FCF Margin -7.60%

4. Debt/Equity 1.05

5. Debt/Ebitda 1.88

6. ROIC - WACC (= 0.24)%

7. RoE 7.73%

8. Rev. Trend 59.67%

9. EPS Trend -71.27%

What is the price of NOG shares?

As of January 19, 2026, the stock is trading at USD 22.24 with a total of 1,540,498 shares traded.
Over the past week, the price has changed by +2.44%, over one month by +4.16%, over three months by +6.60% and over the past year by -41.22%.

Is NOG a buy, sell or hold?

Northern Oil & Gas has received a consensus analysts rating of 3.90. Therefore, it is recommended to buy NOG.

Strong Buy: 4
Buy: 1
Hold: 5
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the NOG price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	30.3	36.2%
Analysts Target Price	30.3	36.2%
ValueRay Target Price	23.2	4.4%

NOG Fundamental Data Overview January 19, 2026

P/E Trailing = 12.2198
P/E Forward = 9.0009
P/S = 1.0587
P/B = 0.9672
P/EG = 0.5583
Revenue TTM = 2.19b USD
EBIT TTM = 413.1m USD
EBITDA TTM = 1.23b USD
Long Term Debt = 2.35b USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 2.35b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.31b USD (from netDebt column, last quarter)
Enterprise Value = 4.48b USD (2.17b + Debt 2.35b - CCE 31.6m)
Interest Coverage Ratio = 2.34 (Ebit TTM 413.1m / Interest Expense TTM 176.5m)
EV/FCF = -26.91x (Enterprise Value 4.48b / FCF TTM -166.7m)
FCF Yield = -3.72% (FCF TTM -166.7m / Enterprise Value 4.48b)
FCF Margin = -7.60% (FCF TTM -166.7m / Revenue TTM 2.19b)
Net Margin = 8.26% (Net Income TTM 181.2m / Revenue TTM 2.19b)
Gross Margin = 34.86% ((Revenue TTM 2.19b - Cost of Revenue TTM 1.43b) / Revenue TTM)
Gross Margin QoQ = 28.71% (prev 37.23%)
Tobins Q-Ratio = 0.82 (Enterprise Value 4.48b / Total Assets 5.49b)
Interest Expense / Debt = 1.83% (Interest Expense 43.0m / Debt 2.35b)
Taxrate = 23.58% (160.5m / 680.8m)
NOPAT = 315.7m (EBIT 413.1m * (1 - 23.58%))
Current Ratio = 1.10 (Total Current Assets 542.5m / Total Current Liabilities 495.3m)
Debt / Equity = 1.05 (Debt 2.35b / totalStockholderEquity, last quarter 2.24b)
Debt / EBITDA = 1.88 (Net Debt 2.31b / EBITDA 1.23b)
Debt / FCF = -13.88 (negative FCF - burning cash) (Net Debt 2.31b / FCF TTM -166.7m)
Total Stockholder Equity = 2.34b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.44% (Net Income 181.2m / Total Assets 5.49b)
RoE = 7.73% (Net Income TTM 181.2m / Total Stockholder Equity 2.34b)
RoCE = 8.81% (EBIT 413.1m / Capital Employed (Equity 2.34b + L.T.Debt 2.35b))
RoIC = 6.73% (NOPAT 315.7m / Invested Capital 4.69b)
WACC = 6.49% (E(2.17b)/V(4.52b) * Re(11.99%) + D(2.35b)/V(4.52b) * Rd(1.83%) * (1-Tc(0.24)))
Discount Rate = 11.99% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.36%
Fair Price DCF = unknown (Cash Flow -166.7m)
EPS Correlation: -71.27 | EPS CAGR: -48.38% | SUE: -4.0 | # QB: 0
Revenue Correlation: 59.67 | Revenue CAGR: 10.66% | SUE: -1.01 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.78 | Chg30d=-0.012 | Revisions Net=-1 | Analysts=8
EPS next Year (2026-12-31): EPS=2.79 | Chg30d=-0.087 | Revisions Net=-2 | Growth EPS=-38.2% | Growth Revenue=-12.4%

Additional Sources for NOG Stock

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