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) 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.
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Northern Oil and Gas, Inc. (NOG) : Free Stock Analysis Report
