NORTHERN OIL & GAS Reports Second Quarter Financial Results for Fiscal Year 2023
August 28, 2023
🌥️Earnings Overview
NORTHERN OIL & GAS ($NYSE:NOG) released its financial results for the second quarter of fiscal year 2023 on June 30, 2023. The revenue generated during the quarter was USD 418.8 million, a decrease from the same quarter in the prior year by 23.8%. Net income also decreased from the corresponding period in the previous year by 33.2%, amounting to USD 167.8 million.
Price History
The stock opened at $39.2 and closed at $39.4, showing a slight increase in the company’s overall performance from the previous quarter. Furthermore, their net income increased by over 30%, proving that their operations and strategies are paying off. Additionally, their debt-to-equity ratio saw a slight decrease, which indicates that their liquidity position is improving steadily. Investors should remain optimistic about the company’s outlook and consider investing in the stock for long-term growth potential. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for NOG. More…
| Total Revenues | Net Income | Net Margin |
| 1.83k | 1.22k | 46.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for NOG. More…
| Operations | Investing | Financing |
| 1.14k | -1.73k | 600.48 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for NOG. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.66k | 2.25k | 15.22 |
Key Ratios Snapshot
Some of the financial key ratios for NOG are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 57.3% | 163.8% | 75.7% |
| FCF Margin | ROE | ROA |
| -28.7% | 70.2% | 23.6% |
Analysis
At GoodWhale, we have conducted an analysis of the financials of NORTHERN OIL & GAS. Based on our Risk Rating, NORTHERN OIL & GAS is a medium risk investment when it comes to financial and business aspects. We have also detected 3 risk warnings in the income sheet, balance sheet, and financial journal. To gain a better understanding of these risks, register with us to check it out. We believe that it’s essential to stay up-to-date on the financial situation of any company you are looking into investing in. With GoodWhale, you can rest assured knowing that each company’s financials are thoroughly reviewed and rated. By registering with us, you can easily access our reports on NORTHERN OIL & GAS and gain a deeper insight into the company’s potential risks. At GoodWhale, we strive to help all investors make informed decisions when it comes to their investments. Register with us today to gain access to our analysis of NORTHERN OIL & GAS and take the necessary steps to protect your investments. More…
Peers
The company competes with Carbon Energy Corp, Earthstone Energy Inc, and Battalion Oil Corp in the highly competitive oil and gas industry.
– Carbon Energy Corp ($OTCPK:CRBO)
Carbon Energy Corp is a publicly-traded, integrated oil and gas exploration and production company headquartered in Denver, Colorado. They are focused on developing cleaner energy solutions from oil and gas resources located in the United States, Canada, and Argentina. The company has a market capitalization of 20.76k as of 2023, which represents a decrease from the previous year. Its Return on Equity (ROE) is also negative, coming in at -36.04%. This suggests that the company is not generating enough revenues to cover its costs and expenses. The company is working to improve its ROE performance by investing in more efficient and sustainable technologies and operations.
– Earthstone Energy Inc ($NYSE:ESTE)
Earthstone Energy Inc is an exploration and production company based in Texas that focuses on the development and exploitation of oil and natural gas reserves. With a market capitalisation of 1.24 billion USD as of 2023, the company has proven its resilience despite of the turbulence in the energy sector. The company has also achieved a very impressive Return on Equity of 33.04%, which is significantly higher than the industry average of 8.88%. This is a testament to the sound management employed by Earthstone Energy Inc, which has enabled it to outperform its competitors in terms of profitability.
– Battalion Oil Corp ($NYSEAM:BATL)
Battalion Oil Corp is an independent oil and natural gas company headquartered in Houston, Texas. It mainly focuses on developing and exploiting oil and natural gas properties in the Permian Basin, Mid-Continent, and Appalachian regions. Battalion Oil Corp has a market cap of 101.34M as of 2023, indicating that it is a highly valued company in the sector. Its Return on Equity (ROE) of 112.49% demonstrates that the firm is efficiently using its resources to generate profits and improve shareholder value, making it an attractive investment opportunity for investors seeking to capitalize on the favorable energy market conditions.
Summary
Investors in Northern Oil & Gas should consider its second quarter financial results for the fiscal year 2023. Total revenue decreased 23.8%, and net income dropped 33.2% compared to the same quarter from the previous year. This could be a warning sign that the company isn’t doing as well financially as it had before, and investors should take this into consideration before investing. Additionally, investors should look into the company’s balance sheet and future outlook before committing to an investment.
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