Jun 2026 (Q2 FY26) — Aug 7, 2026
Northern Oil and Gas Q2 FY26 — Strong Cash Flow and Strategic Capital Allocation Amidst Valuation Disconnect
Read the full callNorthern Oil and Gas (NOG) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Northern Oil and Gas earnings: last reported Fri, 7 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 745 | +5.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 47.3 | +22.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 237 | +137.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$27.75 +2.17% · +$0.59
Performance +28.5% 1Y
1Y: $21.59 on 17 Oct 2025 → $27.75. High $30.82 (27 Mar 2026), low $17.37 (6 Jul 2026).
- Previous close
- $27.16
- 52-week range
- $17.37 – $30.82
- One year
- +30.28%
Overview
- Symbol
- NOG
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Call summaries
Every analysed call
Northern Oil and Gas earnings calls (NOG)
Financials
What the filings say
Net profit, year on year: +138% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 754 | 515 | 602 | 707 | 557 | 610 | 5 | 745 |
| Expenses | 320 | 382 | 373 | 531 | 682 | 644 | 660 | 393 |
| Operating profit | 434 | 133 | 229 | 176 | -126 | -34 | -655 | 353 |
| Operating margin | 57.6% | 25.8% | 38.1% | 24.9% | −22.6% | −5.5% | −13022.1% | 47.3% |
| Other income | -37 | -45 | -43 | -44 | -43 | -52 | -41 | -42 |
| Interest | 37 | 45 | 43 | 44 | 43 | 41 | 43 | 41 |
| Profit before tax | 397 | 88 | 186 | 132 | -169 | -86 | -696 | 311 |
| Tax rate | 24.9% | 18.4% | 25.2% | 24.4% | 23.5% | 17.8% | 24.9% | 23.8% |
| Net profit | 298 | 72 | 139 | 100 | -129 | -71 | -523 | 237 |
| EPS ($ per share) | 3 | — | 1.41 | 1.02 | -1.33 | — | -5.31 | 2.24 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Reserves | -797 | -873 | -1,780 | -1,774 | -1,001 | -78 | 443 | 481 |
| Total liabilities | 1,074 | 1,347 | 1,095 | 1,308 | 2,130 | 2,437 | 3,283 | 3,283 |
| Fixed assets | 1,203 | 1,749 | 735 | 1,253 | 2,483 | 3,932 | 5,082 | 4,746 |
| Total assets | 1,504 | 1,905 | 872 | 1,523 | 2,875 | 4,484 | 5,604 | 5,409 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 244 | 340 | 332 | 396 | 928 | 1,183 | 1,409 | 1,505 |
| Cash from investing | -475 | -569 | -284 | -634 | -1,403 | -1,862 | -1,675 | -1,252 |
| Cash from financing | 130 | 243 | -62 | 246 | 467 | 685 | 267 | -247 |
| Net cash flow | -100 | 14 | -15 | 8 | -7 | 6 | 1 | 5 |
| Capital expenditure | -0 | -340 | -284 | -632 | -1,360 | -1,862 | -1,675 | -1,252 |
| Free cash flow | 244 | -0 | 48 | -235 | -431 | -679 | -266 | 253 |
Insider filings
57 filings between Dec 10, 2025 and Sep 30, 2026.
Open market
decisions to buy or sellPurchases
$1.10M
3 purchases by 2 insiders
Sales
None
No insider sold shares.
Compensation
not trading decisions- 37
- Award — granted as compensation
- 16
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| EASLEY ROY ERNEST | $600.8K | — | Dec 11, 2025 |
| Akradi Bahram | $499.7K | — | Jun 22, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 30, 2026 | Lasher Stuart G. Director | Award | 1,912 | $0 |
| Sep 30, 2026 | Frantz Michael A Director | Award | 1,912 | $0 |
| Sep 30, 2026 | Pomerantz Jennifer S. Director | Award | 3,005 | $0 |
| Sep 30, 2026 | Akradi Bahram Director | Award | 5,026 | $0 |
| Sep 30, 2026 | Kimble William F Director | Award | 1,912 | $0 |
| Sep 30, 2026 | Meier Lisa Director | Award | 1,912 | $0 |
| Jun 30, 2026 | Kimble William F Director | Award | 2,410 | $0 |
| Jun 30, 2026 | Pomerantz Jennifer S. Director | Award | 3,788 | $0 |
| Jun 30, 2026 | Lasher Stuart G. Director | Award | 2,410 | $0 |
| Jun 30, 2026 | Akradi Bahram Director | Award | 6,336 | $0 |
| Jun 30, 2026 | Frantz Michael A Director | Award | 2,410 | $0 |
| Jun 30, 2026 | Meier Lisa Director | Award | 2,410 | $0 |
| Jun 22, 2026 | Akradi Bahram Director | Purchase | 25,760 | $499.7K |
| Mar 31, 2026 | Lasher Stuart G. Director | Award | 1,496 | $0 |
| Mar 31, 2026 | Kimble William F Director | Award | 1,496 | $0 |
| Mar 31, 2026 | Frantz Michael A Director | Award | 1,496 | $0 |
| Mar 31, 2026 | Pomerantz Jennifer S. Director | Award | 2,351 | $0 |
| Mar 31, 2026 | EASLEY ROY ERNEST Director | Award | 1,496 | $0 |
| Mar 31, 2026 | Akradi Bahram Director | Award | 3,933 | $0 |
| Mar 31, 2026 | Meier Lisa Director | Award | 1,496 | $0 |
| Mar 16, 2026 | Romslo Erik J. Chief Legal Officer & Sec. | Award | 10,839 | $0 |
| Mar 16, 2026 | Evans James B. Chief Technical Officer | Tax withheld | 5,672 | $156.0K |
| Mar 16, 2026 | Evans James B. Chief Technical Officer | Award | 12,044 | $0 |
| Mar 16, 2026 | Dirlam Adam A. President | Tax withheld | 1,397 | $38.4K |
| Mar 16, 2026 | Dirlam Adam A. President | Award | 10,949 | $0 |
| Mar 16, 2026 | Dirlam Adam A. President | Tax withheld | 10,695 | $294.2K |
| Mar 16, 2026 | Dirlam Adam A. President | Award | 25,292 | $0 |
| Mar 16, 2026 | O'GRADY NICHOLAS L. CEO | Tax withheld | 25,053 | $689.2K |
| Mar 16, 2026 | O'GRADY NICHOLAS L. CEO | Award | 52,391 | $0 |
| Mar 16, 2026 | Allen Chad W CFO | Tax withheld | 6,069 | $167.0K |
| Mar 16, 2026 | Romslo Erik J. Chief Legal Officer & Sec. | Tax withheld | 5,788 | $159.2K |
| Mar 16, 2026 | Allen Chad W CFO | Award | 13,850 | $0 |
| Feb 9, 2026 | O'GRADY NICHOLAS L. CEO | Award | 29,688 | $0 |
| Feb 9, 2026 | Allen Chad W CFO | Tax withheld | 3,213 | $83.2K |
| Feb 9, 2026 | Allen Chad W CFO | Award | 6,179 | $0 |
| Feb 9, 2026 | Romslo Erik J. Chief Legal Officer & Sec. | Tax withheld | 3,113 | $80.6K |
| Feb 9, 2026 | Dirlam Adam A. President | Award | 11,642 | $0 |
| Feb 9, 2026 | O'GRADY NICHOLAS L. CEO | Tax withheld | 14,607 | $378.0K |
| Feb 9, 2026 | Evans James B. Chief Technical Officer | Tax withheld | 2,685 | $69.5K |
| Feb 9, 2026 | Romslo Erik J. Chief Legal Officer & Sec. | Award | 5,952 | $0 |
| Feb 9, 2026 | Evans James B. Chief Technical Officer | Award | 5,073 | $0 |
| Feb 9, 2026 | Dirlam Adam A. President | Tax withheld | 5,814 | $150.5K |
| Dec 31, 2025 | Akradi Bahram Director | Award | 6,521 | $0 |
| Dec 31, 2025 | Meier Lisa Director | Award | 2,038 | $0 |
| Dec 31, 2025 | Kimble William F Director | Award | 2,038 | $0 |
| Dec 31, 2025 | Pomerantz Jennifer S. Director | Award | 2,038 | $0 |
| Dec 31, 2025 | Lasher Stuart G. Director | Award | 2,038 | $0 |
| Dec 31, 2025 | Frantz Michael A Director | Award | 2,038 | $0 |
| Dec 31, 2025 | EASLEY ROY ERNEST Director | Award | 2,038 | $0 |
| Dec 29, 2025 | Dirlam Adam A. President | Tax withheld | 6,637 | $145.4K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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