Northern Oil & Gas, Inc. (NOG)

Crude Petroleum & Natural Gas

Latest Price

$28.15

TTM P/E

Normalized P/E

5.48

TTM Div Yield

4.80%

Fwd Div Yield

6.39%

Book Value

18.86

P/B Ratio

1.49

Valuation metrics

EPS: $0.39

Book value / share: $21.86

Formula: √(22.5 × EPS × BVPS)

Graham Number

$13.85

51% downside

Base FCF: $1.2B (median of recent 5yr)

Growth: 19%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$573.81

+1938% upside

EPS: $0.39

Target P/E: 5×

Formula: EPS × P/E

P/E Fair Value

$1.95

93% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	16.04M	$291.0M	15.06%	+322.8K	2026-06-30
American Century Companies Inc	8.46M	$153.0M	7.94%	+483.0K	2026-06-30
State Street Corp	7.18M	$133.0M	6.74%	+643.8K	2026-06-30
Vanguard Portfolio Management LLC	6.86M	$124.0M	6.44%	+276.9K	2026-06-30
Invesco Ltd.	6.01M	$109.0M	5.64%	+491.9K	2026-06-30
Vanguard Capital Management LLC	4.58M	$83.0M	4.30%	+79.7K	2026-06-30
Dimensional Fund Advisors LP	4.49M	$81.0M	4.21%	+341.6K	2026-06-30
UBS Group AG	4.04M	$73.0M	3.79%	-506.4K	2026-06-30
Geode Capital Management, LLC	2.71M	$49.0M	2.54%	+267.3K	2026-06-30
Millennium Management LLC	2.30M	$41.0M	2.16%	+1.76M	2026-06-30