We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Northern Oil and Gas (NOG) Reports Q2 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
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.
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Northern Oil and Gas (NOG) Reports Q2 Earnings: What Key Metrics Have to Say
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.