Northern Oil and Gas, Inc. (NASDAQ:NOG) Expected to Post Quarterly Sales of $156.88 Million

Analysts expect that Northern Oil and Gas, Inc. (NASDAQ:NOG) will announce $156.88 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Northern Oil and Gas’ earnings. The highest sales estimate is $159.80 million and the lowest is $153.73 million. Northern Oil and Gas reported sales of $66.85 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 134.7%. The company is expected to report its next earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Northern Oil and Gas will report full-year sales of $675.61 million for the current fiscal year, with estimates ranging from $659.00 million to $695.44 million. For the next year, analysts anticipate that the company will post sales of $788.56 million, with estimates ranging from $772.00 million to $819.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Northern Oil and Gas.

Northern Oil and Gas (NASDAQ:NOG) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.05). The company had revenue of $132.68 million during the quarter, compared to analyst estimates of $142.86 million.

Separately, BidaskClub upgraded Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Friday, March 22nd.

Shares of NOG traded down $0.04 during trading hours on Tuesday, reaching $1.89. The stock had a trading volume of 4,292,862 shares, compared to its average volume of 5,110,383. Northern Oil and Gas has a 12 month low of $1.85 and a 12 month high of $4.49. The stock has a 50-day moving average price of $2.09.

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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