Zacks Boosts Q1 EPS Forecast for Northern Oil and Gas

Analysts see stronger cash flow and profitability for the energy company in the near-term

Apr. 13, 2026 at 5:13am

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A highly detailed, black-and-white close-up image of industrial oil and gas equipment, capturing the physical scale and technical complexity of the energy industry's infrastructure.An extreme close-up of the complex machinery powering Northern Oil and Gas' operations reflects the company's strengthening financial outlook.Williston Today

Stock analysts at Zacks Research have raised their Q1 2026 earnings estimates for shares of Northern Oil and Gas, Inc. (NYSE:NOG). Zacks now forecasts the company will post earnings of $0.74 per share for the quarter, up from their previous estimate of $0.67. The research firm also increased its full-year 2026 and 2027 EPS projections for the energy company.

Why it matters

The upward revisions to Northern Oil and Gas' near-term and medium-term earnings forecasts signal expectations for stronger cash flow and profitability versus prior views. This could help support the company's share price and investor sentiment, though the stock's valuation remains relatively high compared to current consensus estimates.

The details

Zacks Research analyst Team lifted the Q1 2026 EPS estimate to $0.74 from $0.67 and raised the full-year 2026 projection to $2.30 per share, up from $2.10 previously. The firm also increased its FY2027 EPS forecast to $2.81. However, Zacks did cut its FY2028 EPS estimate materially, to $3.06 from $3.95, which could temper the positive near-term story and suggest slower longer-term growth assumptions or expected margin pressure.

  • Zacks Research released the updated earnings estimates on Thursday, April 9, 2026.

The players

Zacks Research

A stock research firm that provides earnings estimates and analysis for publicly traded companies.

Northern Oil and Gas, Inc.

A publicly traded independent energy company focused on oil and natural gas exploration and development, primarily in the Williston Basin region.

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What they’re saying

“Zacks Research analyst Team now forecasts that the company will post earnings of $0.74 per share for the quarter, up from their previous forecast of $0.67.”

— Zacks Research Analyst Team

The takeaway

The upward revisions to Northern Oil and Gas' near-term earnings forecasts suggest the company is expected to see stronger cash flow and profitability in the coming quarters. However, the stock's relatively high valuation means investors will need to weigh the improved short-term outlook against the longer-term growth projections.