Faroe Petroleum plc (FPM) Rating Reiterated by Peel Hunt
Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reiterated by equities research analysts at Peel Hunt in a research note issued to investors on Tuesday. They currently have a GBX 100 ($1.22) target price on the oil and gas exploration company’s stock. Peel Hunt’s price objective indicates a potential upside of 30.29% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Jefferies Group restated a “buy” rating and set a GBX 100 ($1.22) price objective on shares of Faroe Petroleum plc in a research report on Thursday, October 6th. Canaccord Genuity reiterated a “buy” rating and issued a GBX 100 ($1.22) target price on shares of Faroe Petroleum plc in a report on Thursday, September 22nd. Barclays PLC reiterated an “equal weight” rating and issued a GBX 100 ($1.22) target price on shares of Faroe Petroleum plc in a report on Tuesday, July 19th. Liberum Capital raised their target price on shares of Faroe Petroleum plc from GBX 58 ($0.71) to GBX 70 ($0.85) and gave the stock a “hold” rating in a report on Wednesday, June 29th. Finally, Macquarie reiterated an “outperform” rating and issued a GBX 107 ($1.30) target price (up from GBX 90 ($1.10)) on shares of Faroe Petroleum plc in a report on Thursday, July 21st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of GBX 99.09 ($1.21).
Shares of Faroe Petroleum plc (LON:FPM) opened at 76.75 on Tuesday. The firm’s 50-day moving average is GBX 69.22 and its 200 day moving average is GBX 69.99. Faroe Petroleum plc has a 1-year low of GBX 42.50 and a 1-year high of GBX 82.00. The stock’s market capitalization is GBX 206.46 million.
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In other Faroe Petroleum plc news, insider Graham Stewart acquired 520 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The shares were purchased at an average price of GBX 72 ($0.88) per share, with a total value of £374.40 ($456.31).
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.
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