Faroe Petroleum plc (FPM) Given Consensus Recommendation of “Buy” by Brokerages
Faroe Petroleum plc (LON:FPM) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is GBX 111.67 ($1.46).
A number of equities analysts recently commented on FPM shares. Peel Hunt reiterated a “buy” rating and set a GBX 115 ($1.50) target price on shares of Faroe Petroleum plc in a research note on Monday, March 27th. Macquarie lowered their target price on shares of Faroe Petroleum plc from GBX 117 ($1.53) to GBX 110 ($1.44) and set an “outperform” rating for the company in a research note on Wednesday, June 21st. Barclays PLC reiterated an “overweight” rating and set a GBX 110 ($1.44) target price on shares of Faroe Petroleum plc in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC lowered their target price on shares of Faroe Petroleum plc from GBX 142 ($1.85) to GBX 125 ($1.63) and set a “buy” rating for the company in a research note on Wednesday, May 17th.
Faroe Petroleum plc (LON:FPM) remained flat at GBX 75.50 during mid-day trading on Friday. The company’s stock had a trading volume of 456,980 shares. Faroe Petroleum plc has a 12-month low of GBX 60.50 and a 12-month high of GBX 115.00. The stock’s 50-day moving average is GBX 83.85 and its 200-day moving average is GBX 95.95. The firm’s market capitalization is GBX 275.22 million.
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In other news, insider Roger Witts sold 17,319 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of GBX 93 ($1.21), for a total transaction of £16,106.67 ($21,032.48). Also, insider Graham Stewart bought 456 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were acquired at an average price of GBX 82 ($1.07) per share, with a total value of £373.92 ($488.27).
Faroe Petroleum plc Company Profile
Faroe Petroleum plc is an oil and gas company. The Company is focused on exploration, appraisal and production opportunities in Norway and the United Kingdom. Its portfolio consists of approximately 60 exploration, appraisal, development and production licenses in the West of Shetland, the North Sea, Norwegian Sea, Barents Sea and the Celtic Sea.
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