Faroe Petroleum plc (FPM) Receives “Buy” Rating from Jefferies Group
Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reaffirmed by Jefferies Group in a research note issued to investors on Thursday. They currently have a GBX 100 ($1.31) price target on the oil and gas exploration company’s stock. Jefferies Group’s target price would indicate a potential upside of 49.25% from the stock’s previous close.
FPM has been the subject of a number of other research reports. Macquarie reissued an “outperform” rating and issued a GBX 107 ($1.40) price objective (up previously from GBX 90 ($1.17)) on shares of Faroe Petroleum plc in a research report on Thursday, July 21st. Peel Hunt reaffirmed a “buy” rating and set a GBX 100 ($1.31) target price on shares of Faroe Petroleum plc in a report on Thursday, August 25th. Canaccord Genuity reaffirmed a “buy” rating and set a GBX 100 ($1.31) target price on shares of Faroe Petroleum plc in a report on Wednesday, August 31st. Barclays PLC reaffirmed an “equal weight” rating and set a GBX 100 ($1.31) target price on shares of Faroe Petroleum plc in a report on Tuesday, July 19th. Finally, Numis Securities Ltd reaffirmed an “under review” rating on shares of Faroe Petroleum plc in a report on Monday, July 25th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of GBX 98.33 ($1.28).
Faroe Petroleum plc (LON:FPM) opened at 67.00 on Thursday. The company has a 50-day moving average of GBX 67.44 and a 200 day moving average of GBX 69.11. Faroe Petroleum plc has a 52-week low of GBX 42.50 and a 52-week high of GBX 82.00. The firm’s market cap is GBX 180.16 million.
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-jefferies-group.html
In other news, insider Stewart,Graham bought 543 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was bought at an average cost of GBX 69 ($0.90) per share, for a total transaction of £374.67 ($489.06). Also, insider Read,Timothy P bought 50,000 shares of the company’s stock in a transaction dated Tuesday, July 19th. The stock was purchased at an average price of GBX 70 ($0.91) per share, with a total value of £35,000 ($45,685.94).
About Faroe Petroleum plc
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.