Barclays Reiterates Overweight Rating for Premier Oil (PMO)
Premier Oil (LON:PMO)‘s stock had its “overweight” rating restated by research analysts at Barclays in a report released on Friday, AnalystRatings.Net reports. They currently have a GBX 535 ($8.82) price objective on the stock. Barclays’ price objective points to a potential upside of 85.76% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank cut their price target on shares of Premier Oil from GBX 520 ($8.57) to GBX 500 ($8.24) in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Societe Generale downgraded shares of Premier Oil to a “hold” rating in a research note to investors on Thursday. They now have a GBX 320 ($5.27) price target on the stock, down previously from GBX 385 ($6.34). Finally, 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Premier Oil has an average rating of “Buy” and an average target price of GBX 406.38 ($6.70).
Shares of Premier Oil (LON:PMO) opened at 288.40 on Friday. Premier Oil has a one year low of GBX 291.30 and a one year high of GBX 405.00. The stock has a 50-day moving average of GBX 306.0 and a 200-day moving average of GBX 335.7. The company’s market cap is £1.526 billion.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.