Kodiak Oil and gas (NYSE:KOG) is one stock that is really attractive from many standpoints. Even though the company looks pricey with a P/E of 201, its forward looking P/E is 7.62. KOG is a very high growth company. Kodiak was able to increase its sales to $120 million. They recently reported earnings and missed guidance, but their revenue increased significantly from last year. They have some of the highest revenues in the industry. Kodiak's balance sheet looks very good with a very low debt to equity ratio. KOG is one of the fastest growing and most profitable oil and gas exploration firms. Kodiak Oil and Gas operates primarily in the Williston Basin of North Dakota also know as the Bakken. We have talked about this previously as being the hottest shale play in North America right now. They also have property in the Green River Basin of Wyoming and Colorado. Another reason we like the stock is because as we noted in our piece, "NAPE continued, Unconventional Oil and Gas", KOG is a prime candidate for a buyout because of their large leasehold in the Bakken area.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.