Why Northern Oil and Gas Stock Popped 11% Today

Shares of Northern Oil and Gas (NYSEMKT: NOG) jumped 11.2% as of 12:30 p.m. EST Friday, after the Minnesotan oil producer set the pricing last night on an offering of 12.5 million shares that was first announced Wednesday.

Those shares, plus up to 1.9 million more shares covered by underwriters' overallotment option, will be sold for $9.75 each.

Image source: Getty Images.

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Source Fool.com