Analysts Expect Northern Oil and Gas, Inc. (NASDAQ:NOG) Will Post Quarterly Sales of $172.18 Million

Wall Street analysts expect Northern Oil and Gas, Inc. (NASDAQ:NOG) to report sales of $172.18 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Northern Oil and Gas’ earnings. The highest sales estimate is $178.40 million and the lowest is $167.00 million. Northern Oil and Gas reported sales of $152.57 million in the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The company is expected to issue its next earnings results before the market opens on Thursday, March 12th.

On average, analysts expect that Northern Oil and Gas will report full year sales of $633.79 million for the current year, with estimates ranging from $613.00 million to $654.58 million. For the next fiscal year, analysts expect that the firm will post sales of $731.05 million, with estimates ranging from $702.50 million to $770.68 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Northern Oil and Gas.

NOG has been the subject of several recent analyst reports. Imperial Capital upgraded Northern Oil and Gas from an “in-line” rating to an “outperform” rating in a research report on Friday, December 20th. BidaskClub cut Northern Oil and Gas from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 25th.

Shares of NASDAQ NOG traded down $0.06 during mid-day trading on Friday, hitting $1.43. The company had a trading volume of 9,698,326 shares, compared to its average volume of 6,057,557. Northern Oil and Gas has a 1 year low of $1.40 and a 1 year high of $2.94. The stock’s 50-day moving average price is $1.73 and its 200-day moving average price is $1.90.

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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