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We expect Northern Oil and Gas, Inc. ( NOG – Free Report ) to beat expectations when it reports third-quarter 2018 results after the close of trading on Thursday, Nov 8. The current Zacks Consensus Estimate for the quarter under review is a profit of 12 cents per share on revenues of $119.1 million. In the preceding three-month period, the Minnetonka, MN-based non-operator explorer and producer beat the consensus mark by 12.5% on strong production growth and favorable oil prices. As far as earnings surprises are concerned, Bakken-focused producer is on a firm footing, having gone past the Zacks Consensus Estimate in three of the last four reports. This is depicted in the graph below: Investors are keeping their fingers crossed and hoping that the upstream player can continue winning ways by surpassing earnings estimate this time around too. Thankfully, our model indicates that Northern Oil and Gas might beat on earnings in the third quarter. Let’s delve deeper and find out the factors impacting the results. Why a Likely Positive Surprise? Our proven model shows that Northern Oil and Gas is likely to beat the Zacks Consensus Estimate this quarter as it has the right combination of two […]
