Momentum Stock Watch: Northern Oil and Gas Inc. (NOG)

Company Profile:

Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana. As of December 31, 2019, it owned working interests in 6,156 gross producing wells; and had proved reserves of 163.3 million barrels of oil equivalent. The company is based in Minnetonka, Minnesota.

Recent News:

The company reported fourth quarter production increased 8% over the third quarter, averaging a record 43,941 barrels of oil equivalent per day.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

NOG’s strengths can be seen in its better profitability compared with its peers. Its revenue has increased over recently several years. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator and the RSI stands at 42.82 with positive bias. We rate Northern Oil and Gas Inc. (NOG) a STRONG BUY.

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