Is Northern Oil and Gas (NOG) overvalued or fairly valued?

MarketChacha shows Northern Oil and Gas's valuation in context — a forward P/E of about 5.9, a price-to-book of about 1.4 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Northern Oil and Gas's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.76×) from reported figures — education, not a rating.

What is Northern Oil and Gas's revenue?

Northern Oil and Gas reported revenue of $2.5B for FY2025, with net profit of $38.8M, per official filings.

What is the share price of Northern Oil and Gas (NOG)?

Northern Oil and Gas last traded at $25.92 (+0.1% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Northern Oil and Gas

NOG · NYSE · Energy · United States

Snapshot

TickerNOG

ExchangeNYSE

SectorEnergy

IndustryOil & Gas E&P

CountryUnited States

Employees64

HeadquartersMinnetonka, United States

Websitewww.noginc.com

Filings tracked24

About Northern Oil and Gas

Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. Northern Oil and Gas, Inc. was founded in 2006 and is headquartered in Minnetonka, Minnesota.

Who owns it

Insiders2.9%
Institutions97.1%
Public & other0.0%

443 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.15.06%
American Century Companies Inc7.94%
State Street Corporation6.74%
Vanguard Portfolio Management LLC6.44%
Invesco Ltd.5.64%
Vanguard Capital Management LLC4.30%
Dimensional Fund Advisors LP4.21%
Geode Capital Management, LLC2.54%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 41.0 points over the period — profitability is trending down.

Cash conversion2.76×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend42.6% → 1.6%

Margin has compressed by about 41.0 points over the period — profitability is trending down.

Return on equity1.8%

Latest ROE of 1.8% is on the low side — the business earns a modest return on shareholder capital.

Growth qualityrev 7% · PAT -80%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $594.8M · EPS 1.04

Est. earnings growth +25.3%

Next fiscal year

Rev $2.3B · EPS 4.38

Est. earnings growth +8.0%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$2.5B

Net margin

1.6%

ROE

1.8%

Revenue CAGR (2y)

+6.9%

Profit CAGR (2y)

-79.5%

EPS (FY2025)

0.39

Net profit (FY2025)

$38.8M

Ask MarketChacha about NOG

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$2.5B	$38.8M	0.39	1.6%	1.8%
FY2024	$2.2B	$520.3M	5.14	23.4%	22.4%
FY2023	$2.2B	$923.0M	10.03	42.6%	45.1%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$745.2M	$236.6M	2.19	31.8%
2026Q1	$5.0M	$-522.8M	-5.31	-10396.6%
2025Q3	$556.6M	$-129.1M	-1.33	-23.2%
2025Q2	$706.8M	$99.6M	1.00	14.1%
2025Q1	$602.1M	$139.0M	1.39	23.1%
2024Q3	$753.6M	$298.4M	2.96	39.6%
2024Q2	$560.8M	$138.6M	1.36	24.7%
2024Q1	$396.3M	$11.6M	0.11	2.9%
2023Q3	$314.0M	$26.1M	0.28	8.3%
2023Q2	$476.6M	$167.8M	1.88	35.2%
2023Q1	$582.2M	$340.2M	3.98	58.4%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC8/7/2026
8-K — Results of operations, Exhibits
SEC8/6/2026material
8-K — Results of operations, Exhibits
SEC7/13/2026material
8-K — Other events, Exhibits
SEC6/2/2026material
8-K — Material agreement, Unregistered equity sale, Exhibits
SEC6/1/2026material
8-K — Material agreement, Unregistered equity sale, Reg FD disclosure, Exhibits
SEC5/26/2026material
8-K — Shareholder vote results
SEC5/26/2026material
10-Q filing
SEC4/29/2026
8-K — Results of operations, Exhibits
SEC4/28/2026material
8-K — Other events, Exhibits
SEC3/13/2026material
10-K filing
SEC2/26/2026
8-K — Results of operations, Exhibits
SEC2/25/2026material
8-K — Material agreement, Completion of acquisition/disposition, Material financial obligation, Reg FD disclosure, Exhibits
SEC2/24/2026material
8-K — Results of operations, Exhibits
SEC2/10/2026material

2025

8-K — Material agreement, Reg FD disclosure, Exhibits
SEC12/8/2025material
8-K — Material agreement, Material financial obligation, Exhibits
SEC11/10/2025material
10-Q filing
SEC11/7/2025
8-K — Results of operations, Exhibits
SEC11/6/2025material
8-K — Results of operations, Exhibits
SEC10/21/2025material
8-K — Material agreement, Material financial obligation, Other events, Exhibits
SEC10/1/2025material
8-K — Reg FD disclosure, Other events, Exhibits
SEC9/22/2025material
8-K — Other events, Exhibits
SEC9/22/2025material
10-Q filing
SEC8/1/2025
8-K — Results of operations, Exhibits
SEC7/31/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.