Northern Oil & Gas Second Quarter Earnings Sneak Peek

Northern Oil & Gas, Inc (AMEX:NOG) will unveil its latest earnings on Monday, August 8, 2011. Northern Oil & Gas Inc is an independent energy company engaged in the acquisition, exploration, exploitation and development of oil and natural gas properties.

Northern Oil & Gas, Inc Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 19 cents per share, a rise of more than twofold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 24 cents. Between one and three months ago, the average estimate moved down and dropped from 20 cents during the last month. For the year, analysts are projecting net income of 87 cents per share, a rise of more than twofold from last year.

Past Earnings Performance: The company enters this earnings report having missed estimates the last four quarters. Last quarter, the company fell short of expectations by 10 cents, reporting profit of of 9 cents per share against a mean estimate of net income of 19 cents per share.

Get more Earnings Cheat Sheets with our in depth coverage of earnings season >>

Wall St. Revenue Expectations: On average, analysts predict $39.1 million in revenue this quarter, a rise of more than twofold from the year ago quarter. Analysts are forecasting total revenue of $177.4 million for the year, a rise of more than threefold from last year’s revenue of $44.6 million.

Analyst Ratings: Analysts are bullish on this stock with seven analysts rating it as a buy, none rating it as a sell and two rating it as a hold.

Competitors to Watch: Brigham Exploration Co. (NASDAQ:BEXP), Voyager Oil & Gas, Inc. (VOG), Oasis Petroleum Inc. (NYSE:OAS), Kodiak Oil & Gas Corp. (AMEX:KOG), GeoResources, Inc. (NASDAQ:GEOI), Encore Energy Partners LP (NYSE:ENP), Bill Barrett Corporation (NYSE:BBG), Gasco Energy, Inc. (AMEX:GSX), Delta Petroleum Corp. (NASDAQ:DPTR), and Earthstone Energy, Inc. (BSICD).

Stock Price Performance: During June 6, 2011 to August 2, 2011, the stock price had risen $4.11 (24.1%) from $17.03 to $21.14. The stock price saw one of its best stretches over the last year between February 22, 2011 and March 4, 2011 when shares rose for nine-straight days, rising 19.1% (+$5.24) over that span. It saw one of its worst periods between July 20, 2011 and July 28, 2011 when shares fell for seven-straight days, falling 10.2% (-$2.49) over that span. Shares are down $6.07 (-22.3%) year to date.

(Source: Xignite Financials)

Get more Earnings Cheat Sheets with our in depth coverage of earnings season >>