Northern Oil and Gas: 2Q Earnings Snapshot
MINNETONKA, Minn. (AP) _ Northern Oil and Gas Inc. (NOG) on Thursday reported second-quarter net income of $44.4 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 profit of 12 cents.
The results topped 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 $186.4 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $153.1 million.
In the final minutes of trading on Thursday, the company’s shares hit $1.50. A year ago, they were trading at $3.69.