Northern Oil and Gas Inc reports results for the quarter ended in June - Earnings Summary

Northern Oil and Gas

30/07/2024 22:21

* Northern Oil and Gas Inc  NOG.N  reported quarterly
adjusted
earnings of $1.46​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of $1.49.  The mean expectation of twelve analysts for the
quarter was for earnings of $1.22 per share. Wall Street
expected results to range from $1.11  to $1.30 per share.
    * Revenue rose 33.9% to $560.77 million from a year ago;
analysts
expected $541.54 million. 
    * Northern Oil and Gas Inc's reported EPS for the quarter
was
$1.36​.
    * The company reported quarterly net income of $138.56
million.
    * Northern Oil and Gas Inc shares had risen by 8.2% this
quarter and gained 8.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 11.1%
in the last three months.​ 
    * In the last 30 days, seven analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
exploration and production peer group is also "buy"

Wall Street's median 12-month price target for Northern Oil and
Gas Inc is $49.50 
This summary was machine generated from LSEG data July 30 at
09:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.22           1.46           Beat
 Mar. 31 2024      1.18           1.28           Beat
 Dec. 31 2023      1.65           1.61           Missed
 Sep. 30 2023      1.78           1.73           Missed