Northern Oil and Gas (NOG) came out with quarterly earnings of $1.40 per share, beating the Zacks Consensus Estimate of $1.16 per share. This compares to earnings of $1.73 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.69%. A quarter ago, it was expected that this independent oil and gas company would post earnings of $1.20 per share when it actually produced earnings of $1.46, delivering a surprise of 21.67%.Over the last ...

Core Viewpoint - Northern Oil and Gas, Inc. (NOG) is expected to report third-quarter results on November 5, 2024, with earnings estimated at $1.16 per share and revenues at $536.47 million [1]. Group 1: Previous Quarter Performance - In the last reported quarter, NOG's adjusted earnings per share were $1.46, exceeding the Zacks Consensus Estimate of $1.20, while revenues reached $561 million, surpassing the estimate of $538 million [3]. - NOG has beaten the Zacks Consensus Estimate in two of the last four quarters, with an average surprise of 7.36% [4]. Group 2: Third Quarter Estimates - The Zacks Consensus Estimate for third-quarter earnings has seen two upward and four downward revisions in the past 30 days, indicating a 32.95% year-over-year decrease, while revenue estimates show a 4.85% increase from the previous year [4]. - Revenue is projected to increase to $529.9 million from $511.7 million year-over-year, primarily driven by a 4.5% growth in oil revenues from $464.8 million [6]. Group 3: Cost Considerations - NOG's total operating expenses for the third quarter are expected to be $359.4 million, a 32.3% increase from the previous year, with production expenses rising from $82.5 million to $106.9 million [7]. - Depletion, depreciation, amortization, and accretion expenses are anticipated to increase from $133.8 million to $191.0 million during the same period [7]. Group 4: Earnings Prediction Model - The Zacks model does not predict a definitive earnings beat for NOG, as the Earnings ESP is 0.00% [9]. - NOG currently holds a Zacks Rank of 3, indicating a hold position [10].

Northern Oil and Gas (NOG) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

We are currently offering a free two-week trial to Distressed Value Investing . Join our community to receive exclusive research about various companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies. Aaron Chow, aka Elephant Analytics has 15+ years of analytical experience and is a top rated analyst on TipRanks. Aaron previously co-founded a mobile gaming company (Absolute Games) that was acquired by PENN Entert ...

Northern Oil and Gas, Inc. (NOG) has completed the acquisition of significant assets in the Uinta Basin, previously owned by XCL Resources, LLC and Altamont Energy, LLC. This acquisition, finalized on Oct. 1, 2024, represents a critical strategic move for NOG, securing more than a decade of Tier 1 inventory across 15,800 net acres with 116 net underwritten undeveloped locations. The deal further enhances NOG's position in the U.S. energy market by providing a significant growth trajectory. Strategic Partner ...

Core Viewpoint - Northern Oil and Gas has reported strong second-quarter earnings, but shares have underperformed the S&P 500, raising questions about future performance leading up to the next earnings release [1] Financial Performance - The company reported adjusted earnings per share of $1.46 for Q2 2024, exceeding the Zacks Consensus Estimate of $1.20, although it declined from $1.49 in the previous year due to lower natural gas prices and a 41.4% rise in operating expenses [2] - Oil and natural gas sales reached $561 million, surpassing the Zacks Consensus Estimate of $538 million and increasing from $416.5 million year-over-year [3] - Adjusted EBITDA was $413.1 million, up from $315.5 million in the same period last year [3] Production and Sales - Q2 production increased by 36% year-over-year to 123,342 barrels of oil equivalent per day (Boe/d), exceeding the estimate of 119,000 Boe/d [6] - Oil volume was 69,645 barrels per day, a 27% increase year-over-year, while natural gas production rose by 49% to 322,183 thousand cubic feet per day [6] - The average sales price for crude oil was $77.11 per barrel, a 9% increase from $71.03 in the prior year, but below the expected $77.8 per barrel [7] Costs and Expenses - Total operating expenses rose to $341.8 million from $241.8 million year-over-year, primarily due to increased production expenses and other costs [8] - Lease operating expenses decreased to $8.99 per Boe from $10.2 in the previous year, while depreciation expenses increased by 22% on a per-barrel basis [9] Cash Flow and Financial Position - Cash flow from operations totaled $340.5 million, with a free cash flow of $133.7 million for the quarter [9] - As of June 30, the company had $7.8 million in cash and cash equivalents and long-term debt of $1.9 billion, resulting in a debt-to-capitalization ratio of 47.5% [10] Shareholder Returns and Acquisitions - The company repurchased 895,076 shares at an average price of $38.96 per share during the quarter and announced a joint acquisition of Uinta Basin properties for $510 million [4] - A 5% increase in the quarterly dividend was proposed, raising it to 42 cents per share for Q3, along with a new $150 million share repurchase authorization [5] Market Outlook - Estimates for Northern Oil and Gas have been trending upward, with a Zacks Rank of 3 (Hold), indicating an expectation of in-line returns in the coming months [13] - The company has a strong VGM Score of A, reflecting good growth and value metrics [12]

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 ...

Core Viewpoint - Northern Oil and Gas, Inc. (NOG) and SM Energy Company (SM) are acquiring additional assets in the Uinta Basin, enhancing their operational footprint and production capabilities [1][5]. Acquisition Details - NOG plans to acquire a 20% undivided stake in Uinta Basin assets for $17.5 million in cash, previously owned by Altamont Energy LLC [1][2]. - The acquisition will expand NOG's footprint by approximately 6,500 acres, with an estimated 18 net undeveloped locations [3]. - The assets are expected to produce 250 barrels of oil equivalent (BOE) per day [3]. Transaction Timeline - The acquisition is expected to be concluded in the fourth quarter of 2024, alongside the XCL asset acquisition [4]. - Following the transaction, SM Energy will operate the assets, while NOG will participate in their development under a cooperation agreement [4]. Strategic Impact - The acquisition is projected to increase NOG's Uinta inventory by nearly 20% and expand its acreage by 70% [5]. - The transaction is seen as offering significant exploration potential with minimal cash outlay [5].

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 ...