Northern Oil and Gas (NOG) Beats Q2 Earnings and Revenue Estimates

Core Insights - Northern Oil and Gas (NOG) reported quarterly earnings of $1.37 per share, exceeding the Zacks Consensus Estimate of $0.87 per share, but down from $1.46 per share a year ago, representing an earnings surprise of +57.47% [1] - The company achieved revenues of $574.37 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 10.64% and showing an increase from $561.03 million year-over-year [2] - The stock has underperformed the market, losing about 23% since the beginning of the year compared to the S&P 500's gain of 8.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.90 on revenues of $529.57 million, and for the current fiscal year, it is $4.29 on revenues of $2.18 billion [7] - The estimate revisions trend for Northern Oil and Gas was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Oil and Gas - Exploration and Production - United States industry is currently ranked in the bottom 35% of over 250 Zacks industries, suggesting potential challenges for stocks in this sector [8] - California Resources Corporation (CRC), another company in the same industry, is expected to report quarterly earnings of $0.91 per share, reflecting a year-over-year change of +51.7% [9]