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Big-name oil stocks have taken a beating since June, but integrated midstream producer Northern Oil & Gas Inc. (NYSE: NOG) is well-hedged against lower oil prices. In fact, it has 69% of its projected 2015 production hedged at about $89 a barrel. And NOG has hedges at $90 for about half that amount though the first half of 2016.
Even if oil doesn't go up much over the next year, NOG should report earnings close to 2014's numbers. If oil prices rebound just to $70 a barrel, Northern Oil and Gas will earn more in 2015 than it did in 2014.
NOG trades at a discount right now at $7.27 per share. It had climbed as high as $17.43 in 2014.