Northern Oil and Gas (NOG) Reports Q2 Earnings: What Key Metrics Have to Say

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Northern Oil and Gas performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Average Daily Production - Total: 145,659.00 BOE/D compared to the 143,105.40 BOE/D average estimate based on five analysts.
• Average Daily Production - Oil: 68,275.00 BBL/D versus the five-analyst average estimate of 68,651.69 BBL/D.
• Average Daily Production - Natural Gas and NGLs: 464,330.00 Mcf/D versus 446,662.30 Mcf/D estimated by five analysts on average.
• Average Sales Prices - Natural Gas and NGLs Net of Settled Natural Gas Derivatives: $3.63 versus $3.02 estimated by four analysts on average.
• Average Sales Prices - Oil Net of Settled Oil Derivatives: $69.37 versus the four-analyst average estimate of $69.74.
• Net Production - Natural Gas and NGLs: 42,254.00 Mcf compared to the 40,323.96 Mcf average estimate based on three analysts.
• Net Production - Oil: 6,213.00 KBBL versus 6,286.20 KBBL estimated by three analysts on average.
• Net Production - Total: 13,255.00 KBOE compared to the 13,006.76 KBOE average estimate based on three analysts.
• Average Sales Prices - Oil: $90.02 versus $78.46 estimated by two analysts on average.
• Average Sales Prices - Natural Gas and NGLs: $2.64 versus $2.47 estimated by two analysts on average.
• Net Sales- Oil and Gas Sales: $670.8 million versus $546.43 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +16.8% change.

View all Key Company Metrics for Northern Oil and Gas here>>>

Shares of Northern Oil and Gas have returned +2.1% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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