A month has gone by since the last earnings report for Northern Oil and Gas (NOG) . Shares have lost about 7.9% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Northern Oil and Gas due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Northern Q2 Earnings & Revenues ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuat ...

Northern Oil and Gas, Inc. (NOG) , along with SM Energy Company (SM) , has exercised the option to acquire additional assets in the Uinta Basin. NOG plans to acquire an additional 20% undivided stake in the Uinta Basin assets for an unadjusted price of $17.5 million in cash. These assets were previously owned by Altamont Energy LLC. The newly acquired assets lie adjacent to the ones that NOG already acquired from XCL Resources, LLC. Altamont Energy's assets were in the process of being acquired by XCL Resou ...

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now. One company value investors might notice is Northern Oil and Gas (NOG) . NOG is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with a P/E ratio of 7.02, which com ...

This quarterly report represents an earnings surprise of 21.67%. A quarter ago, it was expected that this independent oil and gas company would post earnings of $1.15 per share when it actually produced earnings of $1.28, delivering a surprise of 11.30%. Northern Oil and Gas, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $561.03 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.34%. This compares to year-a ...

Exhibit 99.1 NOG Announces Second Quarter 2024 Results, Updates 2024 Guidance SECOND QUARTER HIGHLIGHTS • Record quarterly production of 123,342 Boe per day (57% oil), increases of 3% from the first quarter of 2024 and 36% from the second quarter of 2023 • GAAP net income of $138.6 million, Adjusted Net Income of $147.8 million and Adjusted EBITDA of $413.1 million. See "Non-GAAP Financial Measures" below • Cash flow from operations of $340.5 million. Excluding changes in net working capital, cash flow from ...

Conclusion Investors interested in the energy sector might look at some better-ranked stocks like Sunoco LP (SUN) and SM Energy Company (SM) , each sporting a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today's Zacks #1 Rank stocks here. SM, an independent energy company, engages in the acquisition, exploration, development and production of oil, gas and natural gas liquids in the state of Texas. Overview of the Acquired Assets Production and Revenue Projections: Recent producti ...

Closing price adjustments are expected to total approximately $75 million, reducing total consideration to approximately $1.025 billion. Vital Energy expects to fund its $820 million portion, net of expected purchase price adjustments, through the use of its credit facility, which was recently expanded to $1.5 billion. Wells Fargo, National Association has committed to the increased elected commitment upon closing of the transaction. Attractively priced, immediately accretive: The transaction is priced at a ...

This acquisition is highly accretive to NOG's key financial metrics. It is expected to generate over $170 million in unhedged cash flow from operations in the next 12 months. Additionally, NOG anticipates a strong free cash flow profile with more than $85 million projected over the next year. These robust financial returns will enhance NOG's profitability and free cash flow per share, benefiting shareholders immediately and over the long term. SM Energy, the operator, will manage the development of the acqu ...

Northern Oil and Gas, Inc. (NOG) reported first-quarter 2024 adjusted earnings per share of $1.28, which beat the Zacks Consensus Estimate of $1.15. The outperformance reflects strong production. However, the bottom line declined from the year-ago adjusted profit of $1.76 due to weaker oil realizations and an increase in costs.The oil and natural gas sales of $532 million beat the Zacks Consensus Estimate of $506 million. The top line, however, improved from the year-ago figure of $426.2 million.Adjusted EB ...