Northern Oil and Gas price target lowered to $45 from $50 at Citi

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.”