Citi lowered the firm’s price target on Northern Oil and Gas to $45 from $50 and keeps a Buy rating on the shares post the Q4 report. The performance was driven by higher than expected natural gas pricing offset by pricing volatility, the analyst tells investors in a research note. The firm continues to like the company’s “low-risk business model, adequate geographic diversification and positioning for incremental growth.”
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Read More on NOG:
- Northern Oil and Gas sees 115,000-120,000 Boe per day of production in 2024
- Northern Oil and Gas reports Q4 adjusted EPS $1.61, consensus $1.65
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- Northern Oil and Gas price target lowered to $38 from $39 at Piper Sandler
- Northern Oil and Gas sees Q4 production at 114.4 MBOE/d