Northern Oil and Gas (NOG) Reports Q3 Earnings: What Key Metrics Have to Say
Northern Oil and Gas (NOG) reported $511.65 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 4.2%. EPS of $1.73 for the same period compares to $1.80 a year ago.
The reported revenue represents a surprise of +1.52% over the Zacks Consensus Estimate of $503.98 million. With the consensus EPS estimate being $1.76, the EPS surprise was -1.70%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 102,327 BOE/D versus the seven-analyst average estimate of 101,770.1 BOE/D.
Average Daily Production - Natural Gas and NGLs: 232,576 Mcf/D compared to the 222,435.7 Mcf/D average estimate based on six analysts.
Average Daily Production - Oil: 63,564 BBL/D versus the six-analyst average estimate of 63,947.46 BBL/D.
Net Production - Total: 9,414.06 KBOE compared to the 9,346.25 KBOE average estimate based on five analysts.
Net Production - Natural Gas and NGLs: 21,396.97 Mcf versus 20,963.32 Mcf estimated by four analysts on average.
Net Production - Oil: 5,847.89 KBBL versus the four-analyst average estimate of 5,863.92 KBBL.
Average Sales Prices- Oil Net of Settled Oil Derivatives: $76.90 compared to the $72.41 average estimate based on three analysts.
Average Sales Prices - Oil: $79.48 compared to the $77.58 average estimate based on three analysts.
Average Sales Prices - Natural Gas and NGLs: $2.19 compared to the $1.66 average estimate based on three analysts.
View all Key Company Metrics for Northern Oil and Gas here>>>
Shares of Northern Oil and Gas have returned -2.3% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Northern Oil and Gas, Inc. (NOG) : Free Stock Analysis Report
