Dallas, Texas 02/06/2014 (FINANCIALSTRENDS) – As per the expectations the fourth quarter of Northern Oil & Gas, Inc. (NYSEMKT:NOG) might come out with an approximate number of 13,900 barrels that Boe per day. This is a clear 28 percent increase as compared to the same quarter of previous year that is 2012. If we compare this number with the third quarter of 2013 then it is an increase of 6.5 percent. The total production of 2013 for Northern Oil & Gas, Inc stands at around 4.47 million barrels which is also quite significant as it is almost 19 percent more than the overall production of year 2013.
The last trading session witnessed about 1.74 million shares being traded while the average volume is around 777,000 shares. The stock price increased by 0.85% for the day and touched $15.46. If we talk about the beta value of this stock it is recorded at 1.79. If we talk about the 52 week low of Northern Oil & Gas then it is $15.03 and the 52 week high is only $15.56. As it is not a volatile stock there are many investment trading firms have maintained a hold rating on this stock. The main reason behind this thought is the increasing Gas consumption across all of the United States of America.
Something about Northern Oil & Gas, Inc. (NYSEMKT:NOG)
The Northern Oil & Gas, Inc is an exploration and production company that has got a good area under its belt in Williston Basin Bakken area and Three Forks play in North Dakota as well as Montana.
Northern Oil & Gas, Inc. (NYSEMKT:NOG) also acquired leasehold interests of about 17,590 acres and considers it as its key prospect areas. The severe cold winter has also led to the increase in the gas consumption across the entire America which is good for Northern Oil & Gas Inc.