Northern Oil and Gas, Inc. (NOG)
NYSEEnergyOil & Gas Exploration & ProductionSnapshot 2026-09-04
$25.92+0.12%
Close 2026-09-04 · 1-day change
NYSEEnergyOil & Gas Exploration & ProductionSnapshot 2026-09-04
QuarterlyIQ Insights · NOG
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within energy on a research-validated quality screen. As of 2026-09-04.
The screen ranks NOG against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 3 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Energy names rated weak grew net income 60% of the time over the next year (vs 55% for the rest of the cohort, n=1735).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Maintain full-year 2026 production guidance at 143,000-148,000 Boe per day and capital expenditures budget of $850-$900 million.
Stated as a priority in 3 of last 3 quarters. Management reiterated 2026 production guidance at 143,000 - 148,000 Boe per day and capital expenditure guidance at $850 - $900 million. Second quarter 2026 production averaged 145,659 Boe per day, a 9% increase from 2025-Q2, and capital expenditures were $195.8 million in 2026-Q2. The trajectory is delivering consistent with guidance.
“NOG reiterated its full year 2026 production and capital expenditure guidance.”
“NOG is reiterating its previous 2026 production and capital expenditure guidance.”
“NOG provided updated 2026 Annual Guidance including production and capital expenditures.”
Pursue and close acquisitions to grow non-operated interests and expand footprint in key basins.
Stated as a priority in 3 of last 3 quarters. Management completed the Ohio Utica acquisition for $464.6 million in 2026-Q1 and the Duvernay acquisition for $262.1 million in 2026-Q2. Ground game transactions added over 7,400 net acres and approximately 12.3 net wells in these quarters. The trajectory shows active execution of strategic acquisitions.
Sustain dividend payout of $0.45 per share and opportunistically repurchase shares to enhance shareholder value.
Stated as a priority in 3 of last 3 quarters. Management maintained a dividend payout of $0.45 per share consistently. In 2026-Q2, the company repurchased 2.95 million shares at an average price of $20.37 and increased the repurchase program authorization to approximately $243 million. The trajectory shows active capital return to shareholders.
Manage capital expenditures within budgeted range to support production growth and cash flow generation.
Stated as a priority in 3 of last 3 quarters. Capital expenditures were $270.1 million in 2026-Q1 and $195.8 million in 2026-Q2, totaling $465.9 million for half the year, within the full-year guidance range of $850 - $900 million. Management is maintaining capital discipline consistent with budget.
Pursue and close accretive acquisitions including Ohio Utica and Duvernay assets to grow production and reserves.
Over the trailing year it converted -10.65x of net income into operating cash flow.
Most sensitive to the broad stock market and long-term interest rates.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, Fed net liquidity (low R² over the window).
24 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Energy names rated volatile grew net income 53% of the time over the next year (vs 58% for the rest of the cohort, n=640).
Not investment advice. As of 2026-09-04.
“Closed Duvernay Light Oil Joint Development and completed 30 ground game transactions adding over 2,300 net acres and 6.2 net wells.”
“Closed Joint Ohio Utica acquisition of upstream and midstream assets in February 2026 and completed 41 ground game transactions adding over 5,100 net acres and 6.14 net wells.”
“Closed joint acquisition of Ohio Utica Shale Assets with Infinity Natural Resources.”
“Declared $0.45 dividend payable October 30, 2026; repurchased 2.95 million shares and increased repurchase program to ~$243 million.”
“Declared $0.45 dividend payable April 30, 2026.”
“Declared $0.45 dividend payable January 30, 2026.”
“Capital expenditures of $195.8 million in 2026-Q2, excluding non-budgeted acquisitions.”
“Capital expenditures of $270.1 million in 2026-Q1, excluding non-budgeted acquisitions.”
“Capital expenditure guidance for 2026 maintained at $850 - $900 million.”