Northern Oil & Gas (NOG) reported quarterly earnings results on Monday, May-9-2016. The company said it had a profit of $0.01 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.03. The company posted revenue of $31.84 million in the period, compared to analysts expectations of $57.41 million. The company’s revenue was down -58.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.
Northern Oil & Gas closed down -0.12 points or -2.44% at $4.8 with 8,38,255 shares getting traded on Friday. Post opening the session at $4.83, the shares hit an intraday low of $4.77 and an intraday high of $5.2 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on May 20, 2015, Michael Lewis Reger (C E O) purchased 25,000 shares at $6.46 per share price.
Northern Oil and Gas Inc. is an independent energy company. The Company is engaged in the acquisition exploration exploitation development and production of crude oil and natural gas properties. Its principal business is crude oil and natural gas exploration development and production with operations in North Dakota and Montana that primarily target the Bakken and Three Forks formations in the Williston basin of the United States. The Company acquires leasehold interests that comprise of non-operated working interests in wells and in drilling projects within its area of operations. The Company owns working interests in 2338 gross (185.7 net) producing wells consisting of 2337 wells targeting the Bakken and Three Forks formations and one exploratory well targeting another formation.