Why Northern Oil & Gas (NOG) Is Falling Today

NEW YORK (TheStreet) -- Northern Oil & Gas (NOG) was falling 9.3% to $13.92 Friday after missing analysts' earnings estimates for the fourth quarter.

For the fourth quarter the oil and gas company reported earnings of 22 cents a share, missing analysts' estimates of 27 cents a share by 5 cents. Revenue increased 24.6% from the year-ago quarter to $101.9 million. Analysts expected revenue of $98.5 million in revenue for the quarter.

"Northern experienced robust production growth in the second half of 2013, growing production 25% over the first half of 2013," chairman and CEO Michael Reger said in a statement. "We finished 2013 with solid momentum as fourth quarter production grew 28% year-over-year."

Must read: NOG Crosses Below Key Moving Average Level

TheStreet Ratings team rates NORTHERN OIL & GAS INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate NORTHERN OIL & GAS INC (NOG) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in stock price during the past year and increase in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."

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