Northern Oil and Gas (AMEX: NOG) is expected to report Q4 earnings on Feb. 28. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Northern Oil and Gas's revenues will grow 207.1% and EPS will increase 28.6%.

The average estimate for revenue is $82.9 million. On the bottom line, the average EPS estimate is $0.27.

Revenue details
Last quarter, Northern Oil and Gas reported revenue of $82.4 million. GAAP reported sales were 84% higher than the prior-year quarter's $43.8 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.27. GAAP EPS shrank to zero from the prior-year quarter's $0.46.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 79.1%, 220 basis points worse than the prior-year quarter. Operating margin was 13.2%, 9,180 basis points worse than the prior-year quarter. Net margin was 0.4%, 6,500 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $294.5 million. The average EPS estimate is $1.03.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 585 members out of 646 rating the stock outperform, and 61 members rating it underperform. Among 100 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 84 give Northern Oil and Gas a green thumbs-up, and 16 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Northern Oil and Gas is outperform, with an average price target of $26.40.

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