Northern Oil and Gas, Inc. (NOG)
NYSEEnergyOil & Gas Exploration & ProductionSnapshot 2026-11-05
$22.14-0.58%
Close 2026-11-05 · 1-day change
NYSEEnergyOil & Gas Exploration & ProductionSnapshot 2026-11-05
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 2026-11-05.
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 56% for the rest of the cohort, n=1774).
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.
2026 ANNUAL GUIDANCE NOG is raising its annual production guidance for the year to reflect outperformance in the third quarter.
Stated in 3 of 4 supplied quarters. Management reported: “OPERATING COSTS Lease operating costs were $143.5 million in the third quarter of 2026, or $9.98 per Boe, 2% higher on a per unit basis compared to the third quarter of 2025, driven in part by higher processing costs.” “2026 ANNUAL GUIDANCE NOG is raising its annual production guidance for the year to reflect outperformance in the third quarter.”
“2026 ANNUAL GUIDANCE NOG is raising its annual production guidance for the year to reflect outperformance in the third quarter.”
“2 2026 ANNUAL GUIDANCE NOG has made minor changes to its previous guidance reflected in the table below.”
“The first quarter marked a lower point for well additions, in line with forecast, with the expectation of an acceleration of TILs through the balance of 2026.”
The Company is maintaining its Capital Expenditures budget guidance but expects Cap Ex to trend toward the high-end of the range based on current activity levels.
Stated in 3 of 4 supplied quarters. Management reported: “OPERATING COSTS Lease operating costs were $143.5 million in the third quarter of 2026, or $9.98 per Boe, 2% higher on a per unit basis compared to the third quarter of 2025, driven in part by higher processing costs.” “The Company is maintaining its Capital Expenditures budget guidance but expects Cap Ex to trend toward the high-end of the range based on current activity levels.”
We cut total debt by more than $100 million, brought leverage below 1.5 times a quarter ahead of our year-end goal, and continued buying back our own shares,” stated Nick O’Grady, Chief Executive Off…
Stated in 2 of 4 supplied quarters. Management reported: “OPERATING COSTS Lease operating costs were $143.5 million in the third quarter of 2026, or $9.98 per Boe, 2% higher on a per unit basis compared to the third quarter of 2025, driven in part by higher processing costs.” “We cut total debt by more than $100 million, brought leverage below 1.5 times a quarter ahead of our year-end goal, and continued buying back our own shares,” stated Nick O’Grady, Chief Executive Officer.”
OPERATING COSTS Lease operating costs were $143.5 million in the third quarter of 2026, or $9.98 per Boe, 2% higher on a per unit basis compared to the third quarter of 2025, driven in part by higher…
Stated in 3 of 4 supplied quarters. Management reported: “OPERATING COSTS Lease operating costs were $143.5 million in the third quarter of 2026, or $9.98 per Boe, 2% higher on a per unit basis compared to the third quarter of 2025, driven in part by higher processing costs.” “On July 10, 2026, NOG’s Board of Directors authorized a $150.0 million increase to the Company’s common stock repurchase program, which provides a current total repurchase capacity of approximately $243.0 million.”
Adjusted EBITDA was up 17% sequentially over the first quarter and we reiterated our full year production guidance despite less than ideal operating conditions.
Over the trailing year it converted -10.65x of net income into operating cash flow.
Most sensitive to long-term interest rates.
Not enough signal to read sensitivity to the US dollar, the broad stock market, real (inflation-adjusted) rates, Fed net liquidity (low R² over the window).
22 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Energy names rated volatile grew net income 54% of the time over the next year (vs 59% for the rest of the cohort, n=1684).
Not investment advice. As of 2026-11-05.
“The Company is maintaining its Capital Expenditures budget guidance but expects Cap Ex to trend toward the high-end of the range based on current activity levels.”
“[TABLE] Previous Guidance (May 26, 2026) | Revised FY 2026 Guidance || Annual Production (2-stream, Boe per day) | 143,000 - 148,000 | 143,000 - 148,000 || Annual Oil Production (Bbls per day) | 71,5…”
““Q1 was a banner quarter for our Ground Game, closing 41 transactions while keeping capital disciplined.”
“We cut total debt by more than $100 million, brought leverage below 1.5 times a quarter ahead of our year-end goal, and continued buying back our own shares,” stated Nick O’Grady, Chief Executive Off…”
“Additionally, we opportunistically repurchased ~3 million shares of our stock at a highly attractive valuation, exactly the kind of disciplined capital allocation the NOG model is built to enable,” c…”
“OPERATING COSTS Lease operating costs were $143.5 million in the third quarter of 2026, or $9.98 per Boe, 2% higher on a per unit basis compared to the third quarter of 2025, driven in part by higher…”
“On July 10, 2026, NOG’s Board of Directors authorized a $150.0 million increase to the Company’s common stock repurchase program, which provides a current total repurchase capacity of approximately $…”
““Q1 was a banner quarter for our Ground Game, closing 41 transactions while keeping capital disciplined.”