Northern Oil and Gas price target lowered to $45 from $55 at Citi

Citi lowered the firm’s price target on Northern Oil and Gas (NOG) to $45 from $55 and keeps a Buy rating on the shares following the Q4 report. Having provided an update prior there were few surprises with the print, the analyst tells investors in a research note. The firm models Northern’s production for the year slightly above the “somewhat conservative” guidance. It cites the company’s recent operational difficulties for the target cut.