Premier Oil PLC (PMO) Downgraded by Jefferies Group LLC to “Hold”
Premier Oil PLC (LON:PMO) was downgraded by stock analysts at Jefferies Group LLC to a “hold” rating in a note issued to investors on Wednesday. They currently have a GBX 68 ($0.88) price objective on the oil producer’s stock, down from their previous price objective of GBX 90 ($1.16). Jefferies Group LLC’s price objective points to a potential upside of 12.86% from the company’s current price.
Several other equities research analysts also recently commented on PMO. Deutsche Bank AG boosted their price objective on Premier Oil PLC from GBX 74 ($0.96) to GBX 75 ($0.97) and gave the company a “hold” rating in a report on Tuesday, April 18th. GMP Securities restated a “speculative buy” rating on shares of Premier Oil PLC in a report on Thursday, March 23rd. Credit Suisse Group AG boosted their price objective on Premier Oil PLC from GBX 40 ($0.52) to GBX 60 ($0.77) and gave the company an “underperform” rating in a report on Friday, March 24th. Peel Hunt started coverage on Premier Oil PLC in a report on Thursday, March 16th. They set a “buy” rating and a GBX 90 ($1.16) price objective for the company. Finally, Barclays PLC decreased their price objective on Premier Oil PLC from GBX 100 ($1.29) to GBX 70 ($0.90) and set an “equal weight” rating for the company in a report on Tuesday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of GBX 86.09 ($1.11).
Premier Oil PLC (LON:PMO) traded up 0.42% during mid-day trading on Wednesday, reaching GBX 60.25. The company had a trading volume of 5,028,988 shares. The firm’s market capitalization is GBX 307.28 million. Premier Oil PLC has a one year low of GBX 47.89 and a one year high of GBX 99.50. The firm’s 50-day moving average is GBX 61.91 and its 200-day moving average is GBX 68.93.
In other Premier Oil PLC news, insider Robin Allan sold 27,677 shares of the company’s stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of GBX 66 ($0.85), for a total value of £18,266.82 ($23,579.22). Also, insider Iain Macdonald acquired 23,076 shares of Premier Oil PLC stock in a transaction on Thursday, April 13th. The stock was acquired at an average price of GBX 65 ($0.84) per share, with a total value of £14,999.40 ($19,361.56). Insiders have purchased 23,790 shares of company stock valued at $1,544,913 in the last quarter.
Premier Oil PLC Company Profile
Premier Oil plc is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan, the Falkland Islands and Latin America. The Company is engaged in the business of upstream oil and gas exploration and production. The Company’s operations are located and managed in six business units: the Falkland Islands, Indonesia, Pakistan (including Mauritania), the United Kingdom, Vietnam and the Rest of the World.
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