We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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.
Here's What Key Metrics Tell Us About Northern Oil and Gas (NOG) Q4 Earnings
Read MoreHide Full Article
For the quarter ended December 2023, Northern Oil and Gas (NOG - Free Report) reported revenue of $543.4 million, up 21.9% over the same period last year. EPS came in at $1.61, compared to $1.43 in the year-ago quarter.
The reported revenue represents a surprise of -2.00% over the Zacks Consensus Estimate of $554.49 million. With the consensus EPS estimate being $1.64, the EPS surprise was -1.83%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 114,363 BOE/D versus 113,759.4 BOE/D estimated by nine analysts on average.
Average Daily Production - Natural Gas and NGLs: 272,950 Mcf/D versus the eight-analyst average estimate of 256,213.7 Mcf/D.
Average Daily Production - Oil: 68,871 BBL/D versus the eight-analyst average estimate of 70,259.27 BBL/D.
Net Production - Total: 10,521.39 KBOE compared to the 10,431.6 KBOE average estimate based on six analysts.
Net Production - Natural Gas and NGLs: 25,111.39 Mcf versus 23,911.77 Mcf estimated by five analysts on average.
Net Production - Oil: 6,336.16 KBBL versus the five-analyst average estimate of 6,512.56 KBBL.
Average Sales Prices - Natural Gas and NGLs Net of Settled Natural Gas Derivatives: $3.52 versus $2.87 estimated by four analysts on average.
Average Sales Prices - Oil: $74.51 versus the four-analyst average estimate of $75.47.
Average Sales Prices - Natural Gas and NGLs: $2.84 versus the four-analyst average estimate of $2.37.
Average Sales Prices - Oil Net of Settled Oil Derivatives: $73.66 versus the four-analyst average estimate of $73.96.
Shares of Northern Oil and Gas have returned +3% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform 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
Here's What Key Metrics Tell Us About Northern Oil and Gas (NOG) Q4 Earnings
For the quarter ended December 2023, Northern Oil and Gas (NOG - Free Report) reported revenue of $543.4 million, up 21.9% over the same period last year. EPS came in at $1.61, compared to $1.43 in the year-ago quarter.
The reported revenue represents a surprise of -2.00% over the Zacks Consensus Estimate of $554.49 million. With the consensus EPS estimate being $1.64, the EPS surprise was -1.83%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 114,363 BOE/D versus 113,759.4 BOE/D estimated by nine analysts on average.
- Average Daily Production - Natural Gas and NGLs: 272,950 Mcf/D versus the eight-analyst average estimate of 256,213.7 Mcf/D.
- Average Daily Production - Oil: 68,871 BBL/D versus the eight-analyst average estimate of 70,259.27 BBL/D.
- Net Production - Total: 10,521.39 KBOE compared to the 10,431.6 KBOE average estimate based on six analysts.
- Net Production - Natural Gas and NGLs: 25,111.39 Mcf versus 23,911.77 Mcf estimated by five analysts on average.
- Net Production - Oil: 6,336.16 KBBL versus the five-analyst average estimate of 6,512.56 KBBL.
- Average Sales Prices - Natural Gas and NGLs Net of Settled Natural Gas Derivatives: $3.52 versus $2.87 estimated by four analysts on average.
- Average Sales Prices - Oil: $74.51 versus the four-analyst average estimate of $75.47.
- Average Sales Prices - Natural Gas and NGLs: $2.84 versus the four-analyst average estimate of $2.37.
- Average Sales Prices - Oil Net of Settled Oil Derivatives: $73.66 versus the four-analyst average estimate of $73.96.
View all Key Company Metrics for Northern Oil and Gas here>>>Shares of Northern Oil and Gas have returned +3% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.