Wall Street analysts expect Northern Oil and Gas (NOG) to post quarterly earnings of $1.13 per share in its upcoming report, which indicates a year-over-year decline of 29.8%. Revenues are expected to be $557.33 million, up 2.6% from the year-ago quarter.

The current level reflects an upward revision of 0.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

Given this perspective, it's time to examine the average forecasts of specific Northern Oil and Gas metrics that are routinely monitored and predicted by Wall Street analysts.

The consensus estimate for 'Net Sales- Oil Sales' stands at $475.74 million. The estimate suggests a change of +0.8% year over year.

Analysts expect 'Net Sales- Natural Gas and NGL Sales' to come in at $55.69 million. The estimate indicates a year-over-year change of -21.9%.

Analysts forecast 'Average Daily Production - Oil' to reach 77,888.63 BBL/D. The estimate compares to the year-ago value of 68,871 BBL/D.

It is projected by analysts that the 'Average Daily Production - Natural Gas and NGLs' will reach 300,613.90 Mcf/D. The estimate compares to the year-ago value of 272,950 Mcf/D.

Analysts' assessment points toward 'Net Production - Total' reaching 11,826.89 KBOE. The estimate is in contrast to the year-ago figure of 10,521.39 KBOE.

Based on the collective assessment of analysts, 'Net Production - Oil' should arrive at 7,111.86 KBBL. Compared to the current estimate, the company reported 6,336.16 KBBL in the same quarter of the previous year.

According to the collective judgment of analysts, 'Net Production - Natural Gas and NGLs' should come in at 28,289.78 Mcf. Compared to the current estimate, the company reported 25,111.39 Mcf in the same quarter of the previous year.

The consensus among analysts is that 'Average Sales Prices - Oil' will reach $66.80. The estimate compares to the year-ago value of $74.51.

The combined assessment of analysts suggests that 'Average Sales Prices - Oil Net of Settled Oil Derivatives' will likely reach $67.44. The estimate compares to the year-ago value of $73.66.

The average prediction of analysts places 'Average Sales Prices - Natural Gas and NGLs Net of Settled Natural Gas Derivatives' at $2.69. The estimate is in contrast to the year-ago figure of $3.52.

View all Key Company Metrics for Northern Oil and Gas here>>>

Shares of Northern Oil and Gas have experienced a change of -16.5% in the past month compared to the +4.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), NOG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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