Why NOG fell on Nov 4
Down 11% on Nov 4, and still 8% under its Nov 3 close.
- No company news or filing in our sources;
−2Growth
Down 11% on Nov 4, and still 8% under its Nov 3 close.
−2Growth
NOG's Quality Score rose 1 point on Tue, Nov 10, to -3. It closed near its high of the day.
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| Since its 2024 high | Down 47% |
| Latest filing | 10-Q, Nov 6 |
Wed Dec 30: Ex-dividend, $0.45 a shareAt the open. Pays Jan 29.
After its last 4 reports it closed +2.6% on average, higher 3 of 4 times.
NOG is #80 of 88 by Quality Score.
| Rank | Stock | Quality Score |
|---|---|---|
| 1 | ||
| 2 | ||
| 3 | ||
| Open for its score | ||
| Open for its score | ||
| Open for its score | ||
| Open for its score | ||
| 80 |
Net income over four quarters: NOG -$469M, MTDR $719M, MGY $431M, CHRD $900M.
Expected to report Thu Feb 25, after the close (in 107 days).
What an earnings report is: every 3 months, a company tells everyone how much it sold and earned. We read the figures, the outlook, and how the stock moved after.
Sales of $345.9M, 38% less than a year ago; a loss of $1.06 a share, from $1.33.
“Adjusted EBITDA in the third quarter was $444.5 million, an 11% increase from the second quarter of 2026, driven primarily by increased production volumes.”
| Line | Q3 2026 | Q2 2026 | Q3 2025 |
|---|---|---|---|
| Oil, Gas and Natural Gas Production | $698M | $671M | $482M |
Each quarter's sales and their share of its total. Figures as filed (SEC filing, Nov 6)
| Measure | Figure |
|---|---|
| Annual production | 147,000 to 150,000 Boepd |
“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.”
From its results filing (SEC filing · Nov 5)
Sales grew 35% a year over 5 years, fiscal 2020 to 2025.
Pays $1.80 a share a year.
| Reported | Gap | Reaction | 5 days |
|---|---|---|---|
| Nov 5, 2026 | -0.1% | +3.2% | not yet |
| Aug 6, 2026 | +2.8% | +6.5% | +20.6% |
| Apr 28, 2026 | +2.3% | +1.4% | -3.3% |
| Feb 25, 2026 | -2.4% | -0.9% | +7.2% |
Sales grew in five of the last seven years, to $2.5B in 2025. It made a profit in six of the eight years.
RSI 39.3, MACD below signal, below both averages. Not scored.
One insider bought $500K across 1 filing in the last 6 months. No open-market sales on record. The newest:
3 trades disclosed in the last six months. The newest:
Officers and directors with a Form 4 in the last 12 months.
In ETFs: NOG is under 0.1% of VYM and under 0.1% of VTI, the most of the 24 funds Breakaway covers, by each fund's latest filing, Jun 30 to Jul 31, 2026.
Northern Oil & Gas Inc is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil and natural gas properties. Its principal business is crude oil and natural gas exploration, development, and production. The company's oil and natural gas sales come from three geographic areas in the United States: the Williston Basin (North Dakota and Montana), the Permian Basin (New Mexico and Texas), the Uinta Basin, and the Appalachian Basin (Pennsylvania and Ohio).
“The oil and natural gas industry is intensely competitive and we compete with numerous other oil and natural gas exploration and production companies, many of which have substantially greater resources than we have and may be able to pay more for exploratory prospects and productive oil and natural gas properties.”
NOG scores -3 today, which Breakaway calls Poor. It is #80 of 88 in Oil & Gas by Quality Score, with 1 of 14 chart checks firing. Down 11% on Nov 4, and still 8% under its Nov 3 close. Breakaway does not say whether to buy any stock: the score does not know your situation, and it is not a recommendation to buy or sell anything. Please do your own research.
NOG scores -3 today, which Breakaway calls Poor (below zero). That is #80 of 88 in Oil & Gas by Quality Score. The score adds up the chart checks, the trend, the company's filed sales, its profits, the news, insider trades, and Congress trades. The section above lists the lines behind NOG's -3.
One insider bought $500K across 1 filing in the last 6 months. No open-market sales on record. The newest is Bahram Akradi, Director, who bought $500K on Jun 22.
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Insider and Congress trades, the chart, and the financials, in one score.
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