For the quarter ended June 2023, Northern Oil and Gas (NOG - Free Report) reported revenue of $416.49 million, down 24.2% over the same period last year. EPS came in at $1.49, compared to $1.72 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $411.31 million, representing a surprise of +1.26%. The company delivered an EPS surprise of +10.37%, with the consensus EPS estimate being $1.35.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Northern Oil and Gas performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Daily Production - Total: 90878 BOE/D compared to the 90488.39 BOE/D average estimate based on seven analysts.
- Average Daily Production - Natural Gas and NGLs: 216838 Mcf/D versus 209732 Mcf/D estimated by six analysts on average.
- Average Daily Production - Oil: 54738 BBL/D versus 55148.02 BBL/D estimated by six analysts on average.
- Net Production - Total: 8269.87 KBOE compared to the 8203.04 KBOE average estimate based on five analysts.
- Net Production - Natural Gas and NGLs: 19732.24 Mcf versus the four-analyst average estimate of 19301.38 Mcf.
- Net Production - Oil: 4981.16 KBBL compared to the 5011.73 KBBL average estimate based on four analysts.
- Average Sales Prices - Oil: $71.03 compared to the $69.95 average estimate based on three analysts.
- Average Sales Prices - Natural Gas and NGLs: $3.18 compared to the $1.82 average estimate based on three analysts.
- Average Sales Prices- Oil Net of Settled Oil Derivatives: $72.34 versus the three-analyst average estimate of $64.05.
- Average Sales Prices - Natural Gas and NGLs Net of Settled Natural Gas Derivatives: $4.23 versus the two-analyst average estimate of $1.31.
View all Key Company Metrics for Northern Oil and Gas here>>>Shares of Northern Oil and Gas have returned +14.6% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended June 2023, Northern Oil and Gas (NOG - Free Report) reported revenue of $416.49 million, down 24.2% over the same period last year. EPS came in at $1.49, compared to $1.72 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $411.31 million, representing a surprise of +1.26%. The company delivered an EPS surprise of +10.37%, with the consensus EPS estimate being $1.35.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Northern Oil and Gas performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Daily Production - Total: 90878 BOE/D compared to the 90488.39 BOE/D average estimate based on seven analysts.
- Average Daily Production - Natural Gas and NGLs: 216838 Mcf/D versus 209732 Mcf/D estimated by six analysts on average.
- Average Daily Production - Oil: 54738 BBL/D versus 55148.02 BBL/D estimated by six analysts on average.
- Net Production - Total: 8269.87 KBOE compared to the 8203.04 KBOE average estimate based on five analysts.
- Net Production - Natural Gas and NGLs: 19732.24 Mcf versus the four-analyst average estimate of 19301.38 Mcf.
- Net Production - Oil: 4981.16 KBBL compared to the 5011.73 KBBL average estimate based on four analysts.
- Average Sales Prices - Oil: $71.03 compared to the $69.95 average estimate based on three analysts.
- Average Sales Prices - Natural Gas and NGLs: $3.18 compared to the $1.82 average estimate based on three analysts.
- Average Sales Prices- Oil Net of Settled Oil Derivatives: $72.34 versus the three-analyst average estimate of $64.05.
- Average Sales Prices - Natural Gas and NGLs Net of Settled Natural Gas Derivatives: $4.23 versus the two-analyst average estimate of $1.31.
View all Key Company Metrics for Northern Oil and Gas here>>>Shares of Northern Oil and Gas have returned +14.6% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on NOG - FREE