Northern Oil And Gas Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Northern Oil And Gas Inc (NOG) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Northern Oil And Gas Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 1,917M vs 965,882M combined for tracked competitors (0.2% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+55.5% annualized vs trailing 12 months), vs accelerating (+24.7%) for its tracked peer group.
- Growth: Northern Oil And Gas Inc generated 5.4% revenue growth year over year in Q2 2026, vs 42.5% for its tracked competitors combined.
- Profitability: Its 31.8% net margin compares with 17.8% for the peer group.
- Scale: Northern Oil And Gas Inc ranks #45 of 134 companies by market capitalization in the Oil And Gas Production industry, holding 0.2% of industry market cap.
- Peer revenue share: Northern Oil And Gas Inc accounted for 0.3% of combined revenue among its tracked peer group, down from 0.3% a year earlier.
- Peer differentiation: Revenue per employee of $29.95M compares with $5.55M for the peer group (5.4x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
NOG Sales vs. its Competitors, Q2 2026
Northern Oil And Gas Inc reported revenue growth of 5.44 % year on year in Q2 2026, below its competitors' combined revenue growth of 42.54 %.
With a net margin of 31.75 %, Northern Oil And Gas Inc achieved higher profitability than its competitors (17.77 %).
Northern Oil And Gas Inc generated 0.25 % of the combined sales of its peer group, down from 0.33 % a year earlier.
Northern Oil And Gas Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Northern Oil And Gas Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Northern Oil And Gas Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (3) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Northern Oil And Gas Inc's competitor groups requires a Commercial License.
For context: the Oil And Gas Production industry grew revenue 3.3% year over year, combined, vs 5.4% for Northern Oil And Gas Inc. Northern Oil And Gas Inc's share of combined industry revenue moved from 0.05% to 0.05%, a gain of 0.00 percentage points.
Northern Oil And Gas Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Northern Oil And Gas Inc | No | No | No | Yes |
| Competitors combined (90) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 12.50 % (1 of 8) | 0.00 % (0 of 8) | 0.00 % (0 of 8) | 62.50 % (5 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
NOG Stock Performance relative to its Competitors
NOG Stock Performance relative to Similar-Size Competitors
NOG Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Calumet Inc | 282.9% | Outperformed |
| 2 | Zion Oil and Gas Inc | 282.9% | Outperformed |
| 3 | Gran Tierra Energy Inc | 282.9% | Outperformed |
| 4 | Par Pacific Holdings Inc | 282.9% | Outperformed |
| 5 | Laredo Oil Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Northern Oil And Gas Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Northern Oil And Gas Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Northern Oil And Gas Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Northern Oil And Gas Inc | 2,529.34 | 1,917.08 |
| Exxon Mobil Corporation | 679,610.68 | 368,757.00 |
| Chevron Corp | 407,855.47 | 215,261.00 |
| Shell Plc | 288,804.53 | 266,886.00 |
| Totalenergies Se | 201,505.39 | 162,863.00 |
| Conocophillips | 155,218.22 | 63,345.00 |
| SUBTOTAL | 2,607,466.19 | 1,821,109.62 |
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Sources: Northern Oil And Gas Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Northern Oil And Gas Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Northern Oil And Gas Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Northern Oil And Gas Inc | 2,529 | 29,954,375 | -7,594,141 |
| Exxon Mobil Corporation | 679,611 | 6,357,879 | 575,414 |
| Chevron Corp | 407,855 | 5,001,533 | 487,116 |
| Shell Plc | 288,805 | 3,139,835 | 213,165 |
| Totalenergies Se | 201,505 | 17,683,279 | 1,450,271 |
| Conocophillips | 155,218 | 6,398,485 | 936,263 |
| PEERS TOTAL | 2,604,937 | 5,554,396 | 474,221 |
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Northern Oil And Gas Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Occidental Petroleum Corporation | Non-US 20.75 % |
| Sharkninja Inc | North America 64.87 % |
| Sm Energy Co | Permian Basin 49.29 % |
| Granite Ridge Resources Inc | Permian 67.87 % |
| Ageagle Aerial Systems Inc | EMEA 37.61 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Northern Oil And Gas Inc's Business Segment Mix vs Peers
Revenue by operating segment, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Exxon Mobil Corporation | Corporate and Unallocated 0.20 % |
| Chevron Corp | Reportable Segment, Aggregation before Other Operating 99.73 % |
| Williams companies inc | Transmission And Gulf Of Mexico 44.10 % |
| Eog Resources Inc | United States of America 98.40 % |
| Imperial Oil Limited | Upstream 42.18 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Northern Oil And Gas Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 113 companies in Northern Oil And Gas Inc's industry classification, broader than the peer set above. Market cap in millions of $.Northern Oil And Gas Inc ranks #45 of 113 companies by market capitalization in its industry, holding 0.16 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 787, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Shell Plc | 291,528 | 18.98 % |
| 2 | Totalenergies Se | 218,956 | 14.25 % |
| 3 | Canadian Natural Resources Limited | 105,431 | 6.86 % |
| 4 | Eni Spa | 96,790 | 6.30 % |
| 5 | Slb Limited | 1,234 | 5.2% |
| 6 | Eog Resources Inc | 1,234 | 5.2% |
| 7 | Occidental Petroleum Corporation | 1,234 | 5.2% |
| 8 | Cenovus Energy Inc | 1,234 | 5.2% |
| 9 | Diamondback Energy Inc | 1,234 | 5.2% |
| 10 | Devon Energy Corp | 1,234 | 5.2% |
| 45 | Northern Oil And Gas Inc | 2,529 | 0.16 % |
Market cap and industry share for the rest of Northern Oil And Gas Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Northern Oil And Gas Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 40 | National Energy Services Reunited Corp | 3,277 | 202.38 % |
| 41 | Liberty Energy Inc | 3,206 | 54.57 % |
| 42 | Black Stone Minerals L p | 3,078 | 9.12 % |
| 43 | Talos Energy Inc | 2,844 | 66.37 % |
| 44 | Gulfport Energy Corporation | 1,234 | 12.3% |
| 45 | Northern Oil And Gas Inc | 2,529 | -13.14 % |
| 46 | Bkv Corporation | 1,234 | 12.3% |
| 47 | Select Water Solutions inc | 1,234 | 12.3% |
| 48 | Expro Group Holdings N v | 1,234 | 12.3% |
| 49 | Vermilion Energy inc | 1,234 | 12.3% |
| 50 | Kimbell Royalty Partners lp | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Northern Oil And Gas Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Northern Oil And Gas Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Oil And Gas Production industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (165 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 74.18 % | 57.30 % (avg) | +16.9 pp |
| Operating Margin | -24.10 % | industry median | -35.2 pp |
| EBITDA Margin | -32.97 % | 11.81 % (avg) | -44.8 pp |
| Capital Intensity (Capex / Revenue) | 87.38 % | 24.95 % (avg) | +62.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Northern Oil And Gas Inc's Valuation vs Competitive Position
Valuation multiples vs the Oil And Gas Production industry average (165 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 15.8x | - |
| EV / EBITDA | - | 8.9x | - |
| P/B | 1.1x | 1.8x | -0.7x |
| Return on Equity | -23.85 % | industry aggregate | -35.84 % |
| Return on Invested Capital | -6.45 % | 5.38 % (avg) | -11.83 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Northern Oil And Gas Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 224.35 % | -30.42 % | 16.89 % | -10.02 % | 216.07 % | 37.93 % | 2.75 % | 11.23 % |
| Operating Margin | 63.72 % | 11.75 % | -152.34 % | 15.69 % | 54.32 % | 51.79 % | 37.64 % | 9.93 % |
| Return on Invested Capital | 54.56 % | 2.93 % | -61.47 % | 9.45 % | 37.31 % | 22.43 % | 12.48 % | 3.23 % |
| P/E | 12.8x | - | - | - | 4.3x | 3.7x | 7.7x | 64.1x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Northern Oil And Gas Inc's Strategic Group Map
Every company in Northern Oil And Gas Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Northern Oil And Gas Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Northern Oil And Gas Inc's BCG Growth-Share Matrix
Relative market share (vs Northern Oil And Gas Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) — a common framework, not a precision instrument.
Northern Oil And Gas Inc falls in the Dog quadrant: relative market share of 0.01x vs its largest competitor, in an industry growing revenue 0.1% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Northern Oil And Gas Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 787 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 87.38 % vs industry average 24.95 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Northern Oil And Gas Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Northern Oil And Gas Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Northern Oil And Gas Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Northern Oil And Gas Inc falls in the Low attractiveness / Low strength cell: Harvest / Divest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Northern Oil And Gas Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) — not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+55.5% annualized vs trailing 12 months).
Weaknesses
- Operating margin 35.2 points below the industry median.
- Return on equity 35.8 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.01x).
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- A meaningful share of tracked competitors (32.50 %) show financial-distress signals, a possible opening to gain share.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Northern Oil And Gas Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Northern Oil And Gas Inc | 0.05 | 0.82 | 1.23 |
| Exxon Mobil Corporation | 0.13 | 1.11 | 0.17 |
| Chevron Corp | 0.01 | 1.16 | 0.21 |
| Shell Plc | 0.37 | 1.30 | 0.05 |
| Totalenergies Se | 0.28 | 0.97 | 0.02 |
| Conocophillips | 0.49 | 1.36 | 0.45 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Northern Oil And Gas Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Northern Oil And Gas Inc | Q2 2026 | +5.4 % | +137.6 % |
| Exxon Mobil Corporation | Q2 2026 | +42.3 % | +97.5 % |
| Chevron Corp | Q2 2026 | +56.3 % | +385.6 % |
| Shell Plc | Q4 2025 | -6.1 % | +9.7 % |
| Totalenergies Se | Q4 2025 | -7.1 % | -16.7 % |
| Conocophillips | Q2 2026 | +36.8 % | +98.8 % |
| PEERS TOTAL | +4.0 % | +47.8 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Northern Oil And Gas Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Northern Oil And Gas Inc | Q2 2026 | +4.7 % | +16.0 % |
| Exxon Mobil Corporation | Q2 2026 | - | +3.9 % |
| Chevron Corp | Q2 2026 | +36.3 % | +22.3 % |
| Shell Plc | Q4 2025 | - | - |
| Totalenergies Se | Q4 2025 | - | - |
| Conocophillips | Q2 2026 | +32.0 % | - |
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Northern Oil And Gas Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Northern Oil And Gas Inc | - | - | - |
| Exxon Mobil Corporation | 7.29% | 7.92% | 12.57% |
| Chevron Corp | 6.40% | 6.49% | 10.85% |
| Shell Plc | 4.89% | 4.22% | 10.33% |
| Totalenergies Se | 4.59% | 11.37% | 11.37% |
| Conocophillips | 7.55% | 8.36% | 14.30% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Northern Oil And Gas Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Northern Oil And Gas Inc | - | 1.32 |
| Exxon Mobil Corporation | 21.01 | 1.84 |
| Chevron Corp | 19.61 | 1.89 |
| Shell Plc | 16.19 | 1.08 |
| Totalenergies Se | 15.35 | 1.24 |
| Conocophillips | 16.95 | 2.45 |
| PEERS AVERAGE | 16.84 | 1.43 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.