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No insider purchase over the last 90 days. The latest was filed 24 Jun 2026.
Northern OIL & Gas, Inc.: what insiders have been doing
Northern OIL & Gas, Inc. belongs to the Energy sector. Filings by its managers are published through SEC (Form 4). The last twelve months, up to 18 October 2026, brought 38 filings signed by 12 insiders.
The flow runs one way only: 2 insiders bought (2 purchases totalling €316k) and nobody sold on the market. The amount is not disclosed for 1 filing. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. On the buying side, the filings list 2 senior executives among the declarants. One trade stands out by size: a purchase of €316k from Easley Roy Ernest, disclosed on 12 December 2025.
The clock since the last published purchase (24 June 2026) now reads 116 days. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 2 days. US insiders must file a Form 4 within two business days of a trade.
Across the 5,810 companies tracked on its exchange, the median is 19 filings; at 38 filings, this issuer sits above that mark. Since 2016, the database holds 26 purchases and 69 sales by insiders of the company. On the fundamentals side, the SEC filing (10-K) for the period ending 31 December 2025 lists revenue at 2.48 bn USD and net income at 38.8 m USD.
In the same sector, recent insider purchases at RGC Resources Inc and Terawulf Inc. also feature in our signals. These figures are compiled from regulatory filings published by SEC (Form 4). They describe what insiders did and are not a recommendation.
Insider Decl.
346
Thresholds
n/a
Buy Volume
€2M
26 ops. · all time
Sell Volume
€41M
69 ops. · all time
Who traded when
BuySaleChad W. Allen5 sales
Adam A. Dirlam4 sales
Erik J. Romslo4 sales
Bahram Akradi2 buys
Nicholas L. O'Grady2 buys
Roy Ernest Easley1 buy
+1 other insider
Since the insiders bought
- +33.2%Entry US$19.74 · Close 14 Oct 2026 US$26.30
- +21.7%Entry US$22.60 · Close at T+90 US$27.51
- +2.3%Entry US$27.95 · Close at T+365 US$28.59
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analyst consensus: bullish or bearish?
Analysts rate Northern OIL & Gas, Inc. Buy (bullish), based on 9 analysts. Average price target: US$30.78.
Fundamental score
Ranked 11,767 of 24,148 companies
52.2
score / 100
Value69
Quality35
FCF yld8.7%
Earn yld1.3%
EV/EBITDA5.0x
ROE-22%
Gross mgn32%
Net mgn1.9%
Debt/EBITDA2.3x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$26.39
Analyst consensus
9 analystsBuy
US$25.00Target US$30.78(+17%)US$38.00
Income statement
RevenueUS$2.1B
Gross profitUS$675.2M32% margin
EBITDAUS$1B50% margin
Net incomeUS$38.8M-24.2% margin
Valuation
PER (forward)5.6x
P/Book1.4x
Beta0.92
Balance sheet & cash
Market capUS$2.8B
Total debtUS$2.4B
Free Cash FlowUS$252.8M
Debt / Equity137%
Profitability & ownership
ROE-22.0%
ROA4.6%
% insiders2.9%
% institutions105.5%
Last declaration on 5 October 2026
Declarations346 total
3,005 shares0Common StockSEC:0001899076-26-000011:0
5,026 shares0Common StockSEC:0001295679-26-000021:0
1,912 shares0Common StockSEC:0001640076-26-000011:0
1,912 shares0Common StockSEC:0001682436-26-000009:0
1,912 shares0Common StockSEC:0001804333-26-000013:0
1,912 shares0Common StockSEC:0001287481-26-000009:0
6,336 sharesCommon StockSEC:0001295679-26-000017:0
25,760 sharesCommon StockSEC:0001295679-26-000014:0
Canonical exit: 20 Sept 2026 (T+90)
3,933 shares0Common StockSEC:0001295679-26-000012:0
1,496 shares0Common StockSEC:0001543076-26-000004:0
1,496 shares0Common StockSEC:0001682436-26-000004:0
1,496 shares0Common StockSEC:0001640076-26-000004:0
2,351 shares0Common StockSEC:0001899076-26-000004:0
1,496 shares0Common StockSEC:0001804333-26-000004:0
1,496 shares0Common StockSEC:0001287481-26-000004:0
25,292 shares0Common StockSEC:0001742527-26-000004:0
52,391 shares0Common StockSEC:0001741768-26-000004:0
10,839 shares0Common StockSEC:0001565392-26-000004:0
12,044 shares0Common StockSEC:0001846661-26-000004:0
13,850 shares0Common StockSEC:0001682657-26-000004:0
5,952 shares0Common StockSEC:0001565392-26-000002:0
5,073 shares0Common StockSEC:0001846661-26-000002:0
11,642 shares0Common StockSEC:0001742527-26-000002:0
29,688 shares0Common StockSEC:0001741768-26-000002:0
6,179 shares0Common StockSEC:0001682657-26-000002:0
25 of 346 declarations
About Northern OIL & Gas, Inc.
Northern Oil & Gas, Inc. (NYSE: NOG) is an independent upstream oil and gas company headquartered in Minnetonka, Minnesota, in the United States. Founded in 2006, the company has developed a differentiated business model in U.S. energy: rather than operating wells directly, it acts primarily as a non-operating investor, acquiring minority working interests and mineral interests in crude oil, natural gas, and NGL properties. This approach allows NOG to diversify across multiple basins while relying on operating partners for drilling execution, field operations, and development timing.
From a strategic standpoint, NOG has historically emphasized acquisitive growth and portfolio expansion through bolt-on deals and “ground game” transactions. Its asset base is concentrated in four major U.S. producing regions: the Williston, Permian, Appalachian, and Uinta basins. That geographic spread gives the company exposure to both oil-weighted and gas-weighted plays, while keeping the business firmly centered on U.S. onshore upstream assets. For equity investors, the model is notable because it can scale production without the same capital intensity and operating overhead as a fully integrated operator.
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NOG’s competitive positioning sits in a niche within the North American E&P universe. The company is not a pure explorer, nor a traditional operator, but a capital allocator focused on collecting economic interests in established or developing acreage. Its key products are crude oil, natural gas, and natural gas liquids, with cash generation driven by production volumes, realized commodity prices, and the effectiveness of its hedging program. As with most upstream names, the investment case remains highly sensitive to commodity cycles, but NOG’s non-operating structure can provide diversification across counterparties and development programs.
Recent developments have reinforced the company’s growth and diversification strategy. In 2025, NOG reported multiple quarterly updates showing rising production, continued cash flow resilience, and a strong hedge position. One of the more notable recent announcements was a $1.2 billion joint acquisition with Infinity Natural Resources involving premium Utica upstream assets with integrated midstream infrastructure, a transaction intended to materially expand NOG’s natural gas exposure and deepen its footprint in another attractive U.S. basin. For investors, this suggests a company that continues to pursue scale while maintaining a disciplined, basin-diversified portfolio.
Overall, Northern Oil & Gas is a U.S.-listed NYSE energy company with a relatively specialized upstream model: non-operating interests, multi-basin exposure, active M&A, and a strong focus on capital returns and risk management. It is best understood as a cash-flow-oriented upstream consolidator rather than a conventional oilfield operator.
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