Northern Oil and Gas: 3Q Earnings Snapshot
MINNETONKA, Minn. (AP) _ Northern Oil and Gas Inc. (NOG) on Tuesday reported third-quarter earnings of $94.4 million.
On a per-share basis, the Minnetonka, Minnesota-based company said it had profit of 24 cents. Earnings, adjusted for one-time gains and costs, came to 9 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The independent oil and gas company posted revenue of $233.9 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $170.6 million.
The company’s shares closed at $2.07. A year ago, they were trading at $3.04.