Northern Oil and Gas, Inc.NOG
NYSE • Energy
$23.19
P/E
64.79
PEG
—
FCF Yield
—
Rev Growth YoY
-6.2% YoY
Gross Margin
32.9%
Health Score
4/10
D/E Ratio
1.13
Confidence
—
Business Snapshot
Northern Oil and Gas is an independent energy company focused on the acquisition, exploration, and development of oil and natural gas properties, primarily in the Williston Basin (Bakken) and Appalachian Basin (Marcellus/Utica). The company generates revenue through the production and sale of crude oil, natural gas, and natural gas liquids, with a business model built on acquiring non-operated working interests in high-return drilling locations. With TTM revenue of $2.06B, the company operates in the mid-cap territory of the U.S. exploration and production sector, where it competes as a non-operator that partners with larger drillers to reduce capital risk. A defining characteristic is its “non-op” strategy, allowing it to participate in multiple basins without bearing the full operating burden, though this also limits direct control over costs and timing.
Financial Health
Gross margin has improved significantly from 21.3% to 32.9% year-over-year, but the TTM net margin stands at a deeply negative -33.2%, reflecting a net loss of over $623 million. The balance sheet appears manageable with a debt/equity ratio of 1.13x and a current ratio of 1.09x, indicating adequate short-term liquidity but no safety margin...
Risk Assessment
- VALUATION — P/E of 64.79x far exceeds the sector average of 14x, implying the stock is priced for a significant earnings recovery that has not yet materialized.
- EARNINGS QUALITY — TTM net income of -$623.07 million and a net margin of -33.2% indicate the company is burning shareholder capital, with losses accelerating in recent quarters.
- REVENUE DECELERATION — Despite a QoQ gain of 20.7%, year-over-year revenue fell 6.2%, signaling that the underlying annual trend remains contractionary.
- TECHNICALS — RSI, MACD, and moving average data are unavailable for this period; momentum cannot be independently confirmed.
- 52-WEEK POSITION — The current price of $23.19 sits 29% below the...