Numis Reiterated Nostrum Oil & Gas Plc (LON:NOG) As ‘Buy’

Numis Reiterated Nostrum Oil & Gas Plc (LON:NOG) As ‘Buy’On Tuesday analysts at Numis reiterated Nostrum Oil & Gas Plc’s (LON:NOG) shares as ‘Buy’ in a research note issued to investors. Nostrum indirectly holds a 100% interest in Zhaikmunai LLP, which is engaged in the exploration, production and sale of hydrocarbons from the Chinarevskoye field in north-west Kazakhstan.

Following Numis’s latest price target of 500 on the business this highlights that the broker now believes there is an increase of 66.94% from Nostrum Oil & Gas Plc’s current share price of 299.5.

The number of shares Nostrum Oil & Gas Plc currently has in issue is 184,828,000, which have a value of 299.5 per share calculating Nostrum Oil & Gas Plc’s market capitalisation to 553.56M GBP.

Nostrum Oil & Gas Plc Twelve Month Chart For Nostrum Oil & Gas Plc

Shares in Nostrum Oil & Gas Plc have risen as high as 546 in the past 52 weeks whilst the lowest price in the last 52 weeks has been 203. The business’s 50 day moving average is 297.61 and its 200 day moving average is 284.01.

Nostrum Oil & Gas PLC (Nostrum) is an independent oil and gas company. The Company is engaged in the production, development and exploration of oil and gas in the pre-Caspian Basin. The Company’s range of products includes crude oil, stabilized liquid condensate, liquefied petroleum gas (LPG) and dry gas. It has invested in developing its own infrastructure to control the transportation of its products to serves a network of destinations and off-takers. The operational facilities of Nostrum Oil & Gas are located in Chinarevskoye field. The Company has three fields in north-western Kazakhstan that offers direct operational synergies, such as the Rostoshinskoye field, the Darzhinskoye field, and the Yuzhno-Gremyachenskoye field. Nostrum indirectly holds a 100% interest in Zhaikmunai LLP, which is engaged in the exploration, production and sale of hydrocarbons from the Chinarevskoye field in north-west Kazakhstan.

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