Northern Oil and Gas Inc

The stock is in an emerging uptrend confirmed by moving-average crossovers and breakout volume. While currently overbought, the recent pullback to the 9-day EMA on lighter volume represents healthy consolidation. A test above the 9-day EMA offers a favorable buying opportunity, with invalidation below the 50-day SMA negating this rally.

• ↑Q2 revenue of $745.2 M exceeded estimates by 28.7%, net income rose to $236.6 M.
• ↑Free cash flow $159 M (400% QoQ), covers $0.45/share dividend multiple times.
• ↓Profitability weak: EPS fell to $1.13, margin compression evident.