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Wednesday, August 17, 2022

Northern Oil and Gas reports 1Q loss

WAYZATA, Minn. (AP) _ Northern Oil and Gas Inc. (NOG) on Monday reported a loss of $ 126.6 million in its first quarter.

The Wayzata, Minnesota-based company said it had a loss of $ 2.08 per share. Earnings, adjusted for non-recurring costs, were 1 cent per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The independent oil and gas company posted revenue of $ 31.8 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $ 44.2 million.

In the final minutes of trading on Monday, the company’s shares hit $ 4.63. A year ago, they were trading at $ 7.83.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NOG at http://www.zacks.com/ap/NOG

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Keywords: Northern Oil and Gas, Earnings Report

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