Northern Oil and Gas, Inc. (NOG) P/E Ratio History
ExpensiveTrading at 49.8x vs 5Y avg 9.3x · 95th percentile · Material premium to history · Data 2008–2025
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P/E Ratio Analysis
As of June 22, 2026, Northern Oil and Gas, Inc. (NOG) trades at a price-to-earnings ratio of 49.8x, with a stock price of $19.44 and trailing twelve-month earnings per share of $-6.33.
The current P/E is 437% above its 5-year average of 9.3x. Over the past five years, NOG's P/E has ranged from a low of 0.8x to a high of 55.1x, placing the current valuation at the 95th percentile of its historical range.
Compared to the Energy sector median P/E of 15.4x, NOG trades at a 223% premium to its sector peers. The sector includes 174 companies with P/E ratios ranging from 0.5x to 166.4x.
Relative to the broader market, NOG commands a significant premium over the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NOG DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NOG Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
NOG P/E vs Peers
Non-operated working interest aggregators peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $2B | 3.2Lowest | 0.15Best | -6% | |
| $203M | 4.1 | 4.04 | +49% | |
| $3B | 7.5 | - | +246%Best | |
| $52B | 32.0 | - | -63% | |
| $3B | 4.8 | - | -15% | |
| $29B | 23.3 | - | -47% | |
| $72B | 20.5 | - | -24% | |
| $58B | 22.5 | - | -13% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
NOG Historical P/E Data (2008–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Dec 31 2025 | $21.47 | $0.39 | 55.1x | +70% |
| FY2025 Q3 | - | $24.80 | $1.77 | 14.0x | -57% |
| FY2025 Q2 | Jun 30 2025 | $28.35 | $6.06 | 4.7x | -86% |
| FY2025 Q1 | Mar 31 2025 | $30.23 | $6.42 | 4.7x | -85% |
| FY2024 Q4 | - | $37.16 | $5.14 | 7.2x | -78% |
| FY2024 Q3 | Sep 30 2024 | $35.41 | $8.33 | 4.3x | -87% |
| FY2024 Q2 | Jun 30 2024 | $37.17 | $5.65 | 6.6x | -80% |
| FY2024 Q1 | Mar 31 2024 | $39.68 | $6.17 | 6.4x | -80% |
| FY2023 Q4 | Dec 31 2023 | $37.07 | $10.04 | 3.7x | -89% |
| FY2023 Q3 | Sep 30 2023 | $40.23 | $7.77 | 5.2x | -84% |
| FY2023 Q2 | Jun 30 2023 | $34.32 | $14.26 | 2.4x | -93% |
| FY2023 Q1 | Mar 31 2023 | $30.35 | $15.12 | 2.0x | -94% |
| FY2022 Q4 | Dec 31 2022 | $30.82 | $8.22 | 3.7x | -88% |
| FY2022 Q3 | Sep 30 2022 | $27.41 | $8.72 | 3.1x | -90% |
| FY2022 Q2 | - | $25.26 | $2.08 | 12.1x | -62% |
| FY2020 Q1 | - | $6.63 | $8.28 | 0.8x | -98% |
| FY2019 Q3 | Sep 30 2019 | $19.60 | $6.50 | 3.0x | -91% |
| FY2019 Q2 | Jun 30 2019 | $19.30 | $4.72 | 4.1x | -87% |
| FY2018 Q4 | Dec 31 2018 | $22.60 | $1.98 | 11.4x | -65% |
| FY2017 Q3 | Sep 30 2017 | $9.00 | $0.29 | 31.0x | -4% |
| FY2014 Q4 | Dec 31 2014 | $56.50 | $26.98 | 2.1x | -94% |
| FY2014 Q3 | - | $142.20 | $12.67 | 11.2x | -65% |
| FY2014 Q2 | Jun 30 2014 | $162.90 | $3.47 | 46.9x | +45% |
| FY2014 Q1 | Mar 31 2014 | $146.20 | $8.10 | 18.0x | -44% |
| FY2013 Q4 | - | $150.70 | $8.40 | 17.9x | -45% |
| FY2013 Q3 | Sep 30 2013 | $144.30 | $8.71 | 16.6x | -49% |
| FY2013 Q2 | Jun 30 2013 | $133.40 | $8.46 | 15.8x | -51% |
| FY2013 Q1 | Mar 31 2013 | $143.80 | $11.56 | 12.4x | -62% |
| FY2012 Q4 | Dec 31 2012 | $168.20 | $11.56 | 14.6x | -55% |
| FY2012 Q3 | Sep 30 2012 | $169.90 | $8.23 | 20.6x | -36% |
| FY2012 Q2 | Jun 30 2012 | $159.40 | $12.78 | 12.5x | -61% |
| FY2012 Q1 | Mar 31 2012 | $207.40 | $9.08 | 22.8x | -29% |
| FY2011 Q4 | Dec 31 2011 | $239.80 | $6.56 | 36.6x | +13% |
| FY2011 Q3 | Sep 30 2011 | $193.90 | $6.50 | 29.8x | -8% |
| FY2011 Q2 | - | $221.50 | $2.10 | 105.5x | +226% |
| FY2010 Q4 | Dec 31 2010 | $272.10 | $1.52 | 179.0x | +453% |
| FY2010 Q3 | - | $169.40 | $2.04 | 83.0x | +157% |
| FY2010 Q2 | Jun 30 2010 | $128.40 | $2.24 | 57.3x | +77% |
| FY2010 Q1 | Mar 31 2010 | $158.50 | $1.14 | 139.0x | +330% |
| FY2009 Q4 | - | $118.40 | $0.64 | 185.0x | +472% |
| FY2009 Q3 | Sep 30 2009 | $84.00 | $1.05 | 80.0x | +147% |
| FY2009 Q2 | - | $63.70 | $0.95 | 67.1x | +107% |
| FY2009 Q1 | - | $36.00 | $0.95 | 37.9x | +17% |
| FY2008 Q4 | Dec 31 2008 | $26.00 | $0.99 | 26.4x | -18% |
Average P/E for displayed period: 32.4x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
18+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
NOG — Frequently Asked Questions
Quick answers to the most common questions about buying NOG stock.
What is NOG's P/E ratio?
Northern Oil and Gas, Inc. (NOG) trailing twelve-month P/E ratio is 49.8x, based on TTM diluted EPS of $-6.33. The 5-year average P/E is 9.3x and the historical range spans 0.8x to 55.1x.
Is NOG stock overvalued or undervalued?
NOG trades at 49.8x P/E, above its 5-year average of 9.3x. The 95th percentile ranking within the 0.8x–55.1x historical range indicates a premium to historical valuation.
Is NOG stock expensive?
Yes, NOG is expensive relative to its own history. The current P/E of 49.8x is above the 5-year average of 9.3x and also above the Energy sector median of 15.4x. The stock sits at the 95th percentile of its 5-year valuation range.
What is NOG's historical P/E range?
Over the past 5 years, NOG's P/E ratio has ranged from 0.8x to 55.1x, with a median of 4.7x and an average of 9.3x. The current P/E of 49.8x places the stock at the 95th percentile of this range. Full historical data spans 2008–2025.
How does NOG's P/E compare to the S&P 500?
NOG trades at 49.8x P/E versus the S&P 500 median of 24.4x. The 104% premium to the market typically reflects higher expected earnings growth or quality.
How does NOG's valuation compare to Energy peers?
Northern Oil and Gas, Inc. P/E of 49.8x compares to the Energy sector median of 15.4x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is NOG's PEG ratio?
NOG PEG ratio is N/A, based on a P/E of 49.8x and EPS growth of -92.4%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is NOG's earnings yield?
NOG earnings yield is 2.01%, the inverse of its 49.8x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.