Northern Oil and Gas: Q4 Earnings Snapshot

MINNETONKA, Minn. (AP) _ Northern Oil and Gas Inc. (NOG) on Thursday reported fourth-quarter net income of $174.7 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Minnetonka, Minnesota-based company said it had net income of $2.13. Earnings, adjusted for non-recurring gains, were $1.06 per share.

The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.

The independent oil and gas company posted revenue of $319.2 million in the period. Its adjusted revenue was $332.4 million, which topped Street forecasts. Six analysts surveyed by Zacks expected $275.3 million.

For the year, the company reported net income of $6.4 million, or 13 cents per share, swinging to a profit in the period. Revenue was reported as $975.1 million.

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

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