Northern Oil and Gas beats Q3 adjusted EPS estimates; lifts 2025 production outlook

Northern Oil and Gas

06/11/2025 21:46

Overview

Northern Oil and Gas Q3 adjusted EPS beats analyst expectations

Company reports GAAP net loss of $129.1 mln due to non-cash impairment charge

Raised 2025 annual production guidance to 132,500 - 134,000 Boepd

Outlook

Northern Oil and Gas raises 2025 production guidance to 132,500 - 134,000 Boepd

Company tightens 2025 capital expenditure guidance to $950 - $1,025 mln

NOG increases 2025 oil production forecast to 75,000 - 76,500 Bbl per day

Result Drivers

PRODUCTION INCREASE - Total production rose 8% year-over-year, driven by record Appalachian volumes

IMPAIRMENT CHARGE - GAAP net loss driven by a non-cash impairment charge of $318.7 mln

GROUND GAME ACTIVITY - Completed 22 ground game transactions adding over 2,500 net acres and 5.8 net wells

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Oil & Gas Sales
$482.20 mln
Q3 Adjusted EPS
Beat
$1.03
$0.86 (10 Analysts)
Q3 EPS
-$1.33
Q3 Adjusted Net Income
$101.80 mln
Q3 Net Income
-$129.10 mln
Q3 Adjusted EBITDA
$387.10 mln
Q3 Adjusted Capex
$272 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Northern Oil and Gas Inc is $30.00, about 31.7% above its November 5 closing price of $20.49

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nBw28bRqVa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)