Here's What Key Metrics Tell Us About Northern Oil and Gas (NOG) Q3 Earnings

Northern Oil and Gas reported Q3 2026 revenue of $697.69 million, up 44.7% year-over-year, significantly beating the consensus estimate of $581.35 million by 20%. EPS of $1.32 exceeded expectations of $0.92 by 43.48%. The company exceeded analyst estimates across key production and pricing metrics, including oil production, natural gas production, and average sales prices. However, the stock has underperformed the broader market, declining 11.9% over the past month compared to the S&P 500's 5.4% decline.