Piper Sandler lowered the firm’s price target on Northern Oil and Gas (NOG) to $37 from $41 and keeps a Neutral rating on the shares. The firm is updating its thoughts on the U.S. upstream landscape heading into what is shaping up as a tricky investment environment in FY25. Piper has updated its estimates for its revised oil outlook, looking at free cash flow/EV sensitivities at various oil and gas price scenarios, and rolled out FY26 comps and updated projections of oil and gas prices discounted in its coverage.
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Read More on NOG:
- Northern Oil and Gas downgraded to Neutral from Outperform at Mizuho
- Northern Oil and Gas price target raised to $52 from $51 at Truist
- Northern Oil and Gas enters into Appalachian Joint Development Program
- Northern Oil and Gas raises quarterly dividend 5% to 42c per share
- Northern Oil and Gas price target raised to $42 from $39 at Morgan Stanley