NEW YORK ( TheStreet) -- Northern Oil & Gas (AMEX: NOG) is trading at unusually high volume Thursday with 3.1 million shares changing hands. It is currently at four times its average daily volume and trading up $1.11 (+3.9%) at $29.43 as of 3:52 p.m. ET.

Northern Oil & Gas has a market cap of $1.4 billion and is part of the basic materials sector and energy industry. Shares are up 4.1% year to date as of the close of trading on Wednesday.

Northern Oil and Gas, Inc. engages in the acquisition, exploration, exploitation, and development of oil and natural gas properties in the Rocky Mountain region of the United States. The company has a P/E ratio of 130.7, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 22.7.

TheStreet Ratings rates Northern Oil & Gas as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Northern Oil & Gas Ratings Report.

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