Piper Sandler lowered the firm’s price target on Northern Oil and Gas to $38 from $39 and keeps a Neutral rating on the shares. Northern Oil preannounced Q4 production and capital expenditures and provided initial FY24 guidance, and Piper Sandler anticipates a negative stock reaction primarily driven by Q4 capital expenditures coming in roughly $100M above consensus, the analyst tells investors in a research note.
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Read More on NOG:
- Northern Oil and Gas raises quarterly dividend 18% to 40c per share
- Northern Oil and Gas price target lowered to $39 from $44 at Piper Sandler
- Northern Oil and Gas price target raised to $60 from $55 at Truist
- Northern Oil and Gas downgraded to Underperform from Buy at BofA
- Northern Oil and Gas initiated with an Equal Weight at Morgan Stanley