MINNETONKA, Minn. (AP) _ Northern Oil and Gas Inc. (NOG) on Tuesday reported fourth-quarter net income of $218.3 million, after reporting a loss in the same period a year earlier.
The Minnetonka, Minnesota-based company said it had net income of 58 cents per share. Earnings, adjusted for non-recurring gains, were 25 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The independent oil and gas company posted revenue of $443.2 million in the period. Its adjusted revenue was $152.6 million, missing Street forecasts. Three analysts surveyed by Zacks expected $159.3 million.
For the year, the company reported net income of $143.7 million, or 61 cents per share, swinging to a profit in the period. Revenue was reported as $493.9 million.
The company's shares closed at $2.23. A year ago, they were trading at $2.11.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NOG at https://www.zacks.com/ap/NOG