2024-05-22 12:01:11 ET
Summary
- Northern Oil and Gas, Inc. is now projected to generate $537 million in 2024 free cash flow at current strip.
- This is close to $50 million more than when I looked at it in February.
- Northern's 2024 guidance remained unchanged except for a couple of minor positive tweaks.
- Most of the improved free cash flow projection comes from oil and gas prices increasing modestly since February.
Northern Oil and Gas, Inc. ( NOG ) saw its stock decline by 6% when it reported Q1 2024 earnings . The company's revenues fell short of expectations , although that appears to have been due to negative changes in the value of its derivatives, with oil strip prices improving during the quarter....
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Northern Oil and Gas Now Appears To Be Near Fair Valuation (Rating Downgrade)