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Should Northern Oil and Gas (NOG) Be in Your Portfolio?

On Feb 14, 2017, Zacks Investment Research upgraded Northern Oil and Gas, Inc.NOG to a Zacks Rank #1 (Strong Buy). Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of outperforming the broader market over the next few quarters.

Why the Upgrade?

Northern Oil and Gas, with its head office in Wayzata, MN, is an independent energy company that engages in the acquisition, exploration, development, and production of oil and natural gas properties in the United States.

The company boasts a strong balance sheet and robust portfolio of assets. This makes it better suited to handle volatile market conditions than most of its peers.

Northern Oil and Gas, Inc. Price and Consensus

Northern Oil and Gas, Inc. Price and Consensus | Northern Oil and Gas, Inc. Quote

Following the rise in oil prices above the $55 per barrel level, companies involved in exploration and production (E&P) activities can now sell crude at higher prices. This should enable them to generate more cash flows for shareholders in the coming days.

Additionally, the firm has seen solid earnings estimate revisions in the past month. This indicates that analysts are becoming more bullish on the firm's prospects for both the short and the long term. Though the current quarter estimates have remained flat in the last one month, current year estimates have risen from 18 cents per share to 19 cents.

Other Stocks to Consider

Some better-ranked players in the broader space include McDermott International, Inc. MDR , Bellatrix Exploration Ltd BXE and Global Partners LP GLP . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

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McDermott International, Inc. (MDR): Free Stock Analysis Report

Global Partners LP (GLP): Free Stock Analysis Report

Northern Oil and Gas, Inc. (NOG): Free Stock Analysis Report

Bellatrix Exploration Ltd (BXE): Free Stock Analysis Report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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