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

Northern Oil and Gas

30/04/2024 16:16

* Northern Oil and Gas Inc  NOG.N  reported quarterly
adjusted
earnings of $1.28​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $1.76.  The mean expectation of twelve analysts for the
quarter was for earnings of $1.18 per share. Wall Street
expected results to range from $1.05  to $1.31 per share.
    * Revenue fell 7% to $396.35 million from a year ago;
analysts
expected $506.04 million. 
    * Northern Oil and Gas Inc's reported EPS for the quarter
was 11
cents​.
    * The company reported quarterly net income of $116.06
million.
    * Northern Oil and Gas Inc shares had risen by 9.7% this
quarter and gained 17.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 23.4%
in the last three months.​ 
    * In the last 30 days, four 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 $53.50 
This summary was machine generated from LSEG data April 30 at
03:15 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
 Mar. 31 2024      1.18           1.28           Beat
 Dec. 31 2023      1.65           1.61           Missed
 Sep. 30 2023      1.78           1.73           Missed
 Jun. 30 2023      1.35           1.49           Beat