Zacks: Brokerages Expect Northern Oil and Gas, Inc. (NOG) Will Post Quarterly Sales of $171.50 Million

Equities research analysts forecast that Northern Oil and Gas, Inc. (NASDAQ:NOG) will report $171.50 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Northern Oil and Gas’ earnings, with the lowest sales estimate coming in at $170.00 million and the highest estimate coming in at $173.00 million. Northern Oil and Gas posted sales of $37.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 363.5%. The company is expected to announce its next quarterly earnings results on Thursday, February 28th.

According to Zacks, analysts expect that Northern Oil and Gas will report full-year sales of $407.40 million for the current fiscal year, with estimates ranging from $406.00 million to $408.80 million. For the next fiscal year, analysts anticipate that the business will post sales of $705.50 million, with estimates ranging from $704.00 million to $707.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Northern Oil and Gas.

Northern Oil and Gas (NASDAQ:NOG) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $102.27 million during the quarter, compared to analyst estimates of $119.05 million.

Several equities research analysts have recently weighed in on NOG shares. Seaport Global Securities reissued a “buy” rating on shares of Northern Oil and Gas in a research note on Friday, September 7th. Capital One Financial raised Northern Oil and Gas from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 31st.

Shares of NOG traded up $0.07 during trading hours on Friday, hitting $2.56. 64,455 shares of the company were exchanged, compared to its average volume of 3,890,035. Northern Oil and Gas has a one year low of $1.20 and a one year high of $4.49.

About Northern Oil and Gas

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana.

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