MINNETONKA, Minn. (AP) _ Northern Oil and Gas Inc. (NOG) on Wednesday reported a loss of $16.1 million in its third quarter.
The Minnetonka, Minnesota-based company said it had a loss of 26 cents per share. Earnings, adjusted for non-recurring costs, came to 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The independent oil and gas company posted revenue of $41.6 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $49.5 million.
In the final minutes of trading on Wednesday, the company's shares hit $1.20. A year ago, they were trading at $1.70.