Equity Profile

NOG

Northern Oil and Gas, Inc.

EnergyOil & Gas Exploration & Production$2.3B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Northern Oil and Gas, Inc. is an energy company focused on oil and gas exploration and production....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and performance this quarter.

N/A

Revenue

Revenue figures will provide insight into the company's sales performance and market demand.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

NOG Q2-2026 Earnings Preview

Context

Company Snapshot

Northern Oil and Gas, Inc. is an energy company focused on oil and gas exploration and production. With a market cap of $2 billion, it plays a significant role in the energy sector, which is influenced by global oil prices and demand trends.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+2.03%

Avg Stock Reaction

+0.17%

Last Quarter Recap

In Q1-2026, Northern Oil and Gas reported an EPS of $0.74, slightly missing the estimate of $0.75. The stock reacted positively, gaining 2.57% the next day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations for Northern Oil and Gas are mixed as the company has shown volatility in earnings surprises. Investors will be keen to see if the company can maintain profitability amidst fluctuating oil prices.

Bull Case

If the company reports a strong EPS and revenue growth, it could signal robust operational efficiency and demand in the oil market, leading to a positive stock reaction.

Bear Case

Conversely, if the company misses expectations again, it could raise concerns about its operational challenges and market conditions, potentially leading to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a critical measure of profitability, and any significant deviation from expectations could impact investor sentiment.

How has revenue been affected by current oil prices?

Understanding the relationship between revenue and oil prices will provide insights into the company's market positioning and future outlook.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising oil prices on Northern Oil and Gas's profitability this quarter.

Supporting Evidence

Historical data shows that the company has a 63% EPS beat rate, which suggests potential for positive surprises.

Options pricing indicates a significant move, suggesting that traders expect volatility that may not align with consensus estimates.

Key Risk

If the EPS exceeds $0.80, it could challenge the current bearish sentiment surrounding the stock.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the company's ability to navigate market volatility and deliver solid earnings.

Bull Confirmed If

An EPS of $0.80 or higher would confirm strong operational performance.

Bear Confirmed If

An EPS below $0.70 would indicate ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±9.22%

Historical Avg

±1.3%

Pricing rich

The options market is pricing in a significant potential move, suggesting that investors are anticipating volatility around the earnings announcement.

Options are pricing ±9.2% while NOG has averaged ±1.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

45.9%

Calls (109K)P/C Ratio: 0.30Puts (73K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Northern Oil and Gas beats expectations, history suggests the stock could see a modest increase of around 1.25% on the day.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in the market.

Miss

A miss could lead to a decline of approximately 1.04%, as seen in past performance when the company failed to meet earnings expectations.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on operational efficiency improvements.
2Any commentary on hedging strategies related to oil prices.
3Insights into production levels and future guidance.
4Details on cost management initiatives.
5Management's outlook on market conditions and demand trends.

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Company Snapshot

Northern Oil and Gas, Inc. is an energy company focused on oil and gas exploration and production....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and performance this quarter.

N/A

Revenue

Revenue figures will provide insight into the company's sales performance and market demand.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

NOG Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+2.03%

Avg Stock Reaction

+0.17%

Last Quarter Recap

In Q1-2026, Northern Oil and Gas reported an EPS of $0.74, slightly missing the estimate of $0.75. The stock reacted positively, gaining 2.57% the next day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If the company reports a strong EPS and revenue growth, it could signal robust operational efficiency and demand in the oil market, leading to a positive stock reaction.

Bear Case

Conversely, if the company misses expectations again, it could raise concerns about its operational challenges and market conditions, potentially leading to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a critical measure of profitability, and any significant deviation from expectations could impact investor sentiment.

How has revenue been affected by current oil prices?

Understanding the relationship between revenue and oil prices will provide insights into the company's market positioning and future outlook.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising oil prices on Northern Oil and Gas's profitability this quarter.

Supporting Evidence

Historical data shows that the company has a 63% EPS beat rate, which suggests potential for positive surprises.

Options pricing indicates a significant move, suggesting that traders expect volatility that may not align with consensus estimates.

Key Risk

If the EPS exceeds $0.80, it could challenge the current bearish sentiment surrounding the stock.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the company's ability to navigate market volatility and deliver solid earnings.

Bull Confirmed If

An EPS of $0.80 or higher would confirm strong operational performance.

Bear Confirmed If

An EPS below $0.70 would indicate ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±9.22%

Historical Avg

±1.3%

Pricing rich

The options market is pricing in a significant potential move, suggesting that investors are anticipating volatility around the earnings announcement.

Options are pricing ±9.2% while NOG has averaged ±1.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

45.9%

Calls (109K)P/C Ratio: 0.30Puts (73K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Northern Oil and Gas beats expectations, history suggests the stock could see a modest increase of around 1.25% on the day.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in the market.

Miss

A miss could lead to a decline of approximately 1.04%, as seen in past performance when the company failed to meet earnings expectations.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on operational efficiency improvements.
2Any commentary on hedging strategies related to oil prices.
3Insights into production levels and future guidance.
4Details on cost management initiatives.
5Management's outlook on market conditions and demand trends.