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Northern Oil and Gas Shares Popped: What You Need to Know

By Travis Hoium | More Articles
September 21, 2011 | Comments (2)

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of oil producer Northern Oil and Gas (AMEX: NOG  ) jumped 10% today after the company announced increased production and reserves.

So what: Management reported 34.8 million barrels of proven oil equivalent reserves, an increase of 121% from the beginning of the year. But the great news was an unexpected production bump of 30% to 40% in the third quarter.

Now what: To top it off, Global Hunter Securities upgraded Northern Oil to a buy rating this morning. Estimated future cash flows, discounted at 10%, have increased from $295.5 million at the end of 2010 to $870.5 million today showing the potential growth of production. Oil prices will impact potential earnings going forward, but today's news is definitely a great sign for the continued growth of this oil producer.

Interested in more info on Northern Oil and Gas? Add it to your watchlist by clicking here.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On September 22, 2011, at 8:04 AM, TruffelPig wrote:

    I am biting my own behind - I sold NOG at $22 for a good profit though of 20% in 1 week........should have hang on. Maybe now is a time to get them back cheap soon.

  • Report this Comment On September 23, 2011, at 11:01 AM, ArthurRaynolds wrote:

    Does NOG pay dividends?

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Related Tickers

5/25/2012 4:00 PM
NOG $17.58 Up +0.38 +2.21%
Northern Oil and G… CAPS Rating: **

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