Premier Oil Rating Lowered to Hold at Societe Generale (PMO)
Premier Oil (LON:PMO) was downgraded by Societe Generale to a “hold” rating in a research note issued on Thursday, Analyst Ratings.Net reports. They currently have a GBX 385 ($6.34) price target on the stock. Societe Generale’s price objective would suggest a potential upside of 33.68% from the stock’s previous close.
Shares of Premier Oil (LON:PMO) traded down 6.49% during mid-day trading on Thursday, hitting GBX 288.00. The stock had a trading volume of 5,341,491 shares. Premier Oil has a one year low of GBX 285.30 and a one year high of GBX 405.00. The stock’s 50-day moving average is GBX 306.0 and its 200-day moving average is GBX 335.7. The company’s market cap is £1.524 billion.
PMO has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Premier Oil in a research note to investors on Wednesday. They now have a GBX 450 ($7.42) price target on the stock. Separately, analysts at Goodbody Stockbrokers Ltd reiterated a “buy” rating on shares of Premier Oil in a research note to investors on Tuesday. They now have a GBX 450 ($7.42) price target on the stock. Finally, analysts at Nomura cut their price target on shares of Premier Oil from GBX 450 ($7.42) to GBX 440 ($7.25) in a research note to investors on Monday. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Premier Oil presently has an average rating of “Buy” and a consensus price target of GBX 410.76 ($6.77).
Premier Oil plc (LON:PMO) is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia and in the Middle East, Africa and Pakistan regions.
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