Truist analyst Neal Dingmann lowered the firm’s price target on Northern Oil and Gas to $44 from $54 but keeps a Buy rating on the shares. The analyst is updating the firm’s model to reflect the company’s Q4 production update and the lower gas price deck. The firm maintains a positive view on the company’s growth prospects however while noting that Northern Oil and Gas has the highest 2023 free cash flow yield of over 25% of any name in its coverage group.
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Published first on TheFly
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