Barclays PLC Boosts Premier Oil PLC (LON:PMO) Price Target to GBX 72
Premier Oil PLC (LON:PMO) had its target price hoisted by research analysts at Barclays PLC from GBX 57 ($0.74) to GBX 72 ($0.93) in a report released on Friday. The brokerage presently has an “equal weight” rating on the oil producer’s stock. Barclays PLC’s price objective indicates a potential upside of 18.03% from the company’s previous close.
A number of other brokerages also recently commented on PMO. Deutsche Bank AG lifted 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 research report on Tuesday, April 18th. GMP Securities reaffirmed a “speculative buy” rating on shares of Premier Oil PLC in a research report on Friday, June 16th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 90 ($1.17) price objective on shares of Premier Oil PLC in a research report on Wednesday. Credit Suisse Group lifted their price objective on Premier Oil PLC from GBX 40 ($0.52) to GBX 60 ($0.78) and gave the company an “underperform” rating in a research report on Friday, March 24th. Finally, Jefferies Group LLC downgraded Premier Oil PLC to a “hold” rating and lowered their price objective for the company from GBX 90 ($1.17) to GBX 68 ($0.88) in a research report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of GBX 80.40 ($1.04).
Premier Oil PLC (LON:PMO) traded down 2.01% during trading on Friday, hitting GBX 61.00. The stock had a trading volume of 4,479,073 shares. The firm’s market cap is GBX 311.10 million. Premier Oil PLC has a one year low of GBX 42.75 and a one year high of GBX 99.50. The stock’s 50-day moving average is GBX 54.56 and its 200 day moving average is GBX 67.78.
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In other Premier Oil PLC news, insider Richard Rose purchased 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The shares were acquired at an average price of GBX 45 ($0.58) per share, for a total transaction of £11,250 ($14,572.54). Also, insider Tony Durrant purchased 226,868 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was acquired at an average price of GBX 44 ($0.57) per share, for a total transaction of £99,821.92 ($129,303.01). Insiders bought 252,564 shares of company stock valued at $11,147,100 in the last ninety days.
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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