Northland Securities Reiterates “Buy” Rating for Petrel Resources PLC (PET)
Petrel Resources PLC (LON:PET)‘s stock had its “buy” rating reiterated by equities researchers at Northland Securities in a research report issued on Thursday. They currently have a GBX 15.10 ($0.26) target price on the stock. Northland Securities’ price target suggests a potential upside of 63.24% from the stock’s previous close.
Shares of Petrel Resources PLC (LON:PET) traded up 4.55% on Thursday, hitting GBX 8.625. 130,120 shares of the company’s stock traded hands. Petrel Resources PLC has a one year low of GBX 7.438 and a one year high of GBX 14.75. The stock’s 50-day moving average is GBX 9.18 and its 200-day moving average is GBX 11.64.
Other equities research analysts have also recently issued reports about the stock. Analysts at Northland Capital Partners reiterated a “buy” rating on shares of Petrel Resources PLC in a research note on Wednesday, July 2nd. They now have a GBX 15.10 ($0.26) price target on the stock.
Petrel Resources Plc is engaged in oil exploration and development. The Company holds 1,400km of prospective acreage in the Porcupine Basin of the Irish offshore.