Northern Oil and Gas Q1 adjusted EPS beats estimates

Northern Oil and Gas

28/04/2026 21:21

Overview

US oil and gas producer's Q1 adjusted EPS beat analyst expectations

Adjusted EBITDA fell 21% yr/yr due to lower realized prices and commodity mix

Company posted large net loss on non-cash derivative loss and impairment charges

Outlook

Company expects acceleration of wells turned in line through remainder of 2026

Company sees improved field-level price realizations, especially in the Williston Basin

Result Drivers

PRODUCTION GROWTH - Co said total production rose 10% yr/yr and natural gas output hit a record, up 33% from Q1 2025

LOWER REALIZED PRICES - Adjusted EBITDA fell 21% yr/yr, reflecting a 19% decrease in realized price on a Boe basis including settled commodity derivatives and the impact of a changing commodity mix

PERMIAN GAS CONSTRAINTS - Natural gas realizations continued to be pressured due to lack of takeaway capacity in the Permian Basin

Company press release: ID:nBw5cj8H7a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Oil & Gas Sales
$539.9 mln
Q1 Adjusted EPS
Beat
$0.74
$0.68 (9 Analysts)
Q1 EPS
-$5.31
Q1 Adjusted Net Income
$74.7 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Northern Oil and Gas Inc is $36.00, about 34% above its April 27 closing price of $26.87

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)