Faroe Petroleum plc (FPM) Receives Buy Rating from Canaccord Genuity
Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reiterated by Canaccord Genuity in a report issued on Thursday. They presently have a GBX 100 ($1.31) price objective on the oil and gas exploration company’s stock. Canaccord Genuity’s price target would indicate a potential upside of 49.25% from the company’s current price.
A number of other research analysts have also recently commented on FPM. Barclays PLC increased their price target on shares of Faroe Petroleum plc from GBX 75 ($0.98) to GBX 85 ($1.11) and gave the company an “equal weight” rating in a research report on Thursday, June 9th. Peel Hunt restated a “buy” rating and issued a GBX 100 ($1.31) target price on shares of Faroe Petroleum plc in a report on Thursday, June 16th. Liberum Capital restated a “hold” rating and issued a GBX 58 ($0.76) target price on shares of Faroe Petroleum plc in a report on Thursday, June 16th. Macquarie restated an “outperform” rating and issued a GBX 90 ($1.17) target price on shares of Faroe Petroleum plc in a report on Tuesday, July 12th. Finally, Numis Securities Ltd restated an “under review” rating on shares of Faroe Petroleum plc in a report on Monday, July 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of GBX 98.33 ($1.28).
Shares of Faroe Petroleum plc (LON:FPM) opened at 68.75 on Thursday. The company’s market cap is GBX 184.87 million. Faroe Petroleum plc has a 52 week low of GBX 42.50 and a 52 week high of GBX 82.00. The firm’s 50-day moving average is GBX 67.44 and its 200-day moving average is GBX 69.11.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/faroe-petroleum-plc-fpm-receives-buy-rating-from-canaccord-genuity.html
In other Faroe Petroleum plc news, insider Stewart,Graham purchased 543 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The stock was bought at an average price of GBX 69 ($0.90) per share, with a total value of £374.67 ($489.06). Also, insider Read,Timothy P purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The stock was acquired at an average cost of GBX 70 ($0.91) per share, with a total value of £35,000 ($45,685.94).
Faroe Petroleum plc Company Profile
Faroe Petroleum plc is an independent oil and gas company that is engaged in the exploration, appraisal and production opportunities in Norway and the United Kingdom. The Company has a portfolio of production assets, including Aerosmith-PL644, located approximately 20 kilometers from the Morvin and Smorbukk Fields in the province of the Norwegian Sea; Betula-PL670, located in the vicinity of the Jurassic Ula Field in the Central North Sea; Birnam-P1993, located in the north-east of the Perth Field; Caramello-PL665 S, located on the Sorvestlandet High in the Norwegian Southern North Sea; Firklover-PL676 S, located on the Viking Graben; Hyme Field-PL348, located in the southern part of the Norwegian Sea, and Samson Dome-PL534, covering approximately 900 square kilometers.
Receive News & Ratings for Faroe Petroleum plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Faroe Petroleum plc and related companies with MarketBeat.com's FREE daily email newsletter.