Peel Hunt Trims Faroe Petroleum plc (FPM) Target Price to GBX 110
Faroe Petroleum plc (LON:FPM) had its price target dropped by research analysts at Peel Hunt from GBX 115 ($1.50) to GBX 110 ($1.44) in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Peel Hunt’s price target points to a potential upside of 45.70% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Barclays PLC reiterated an “overweight” rating and issued a GBX 110 ($1.44) price target on shares of Faroe Petroleum plc in a report on Thursday, June 22nd. Jefferies Group LLC reduced their price target 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 report on Wednesday, May 17th. Finally, Macquarie reduced their price target 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 report on Wednesday, June 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of GBX 111.67 ($1.46).
Faroe Petroleum plc (FPM) opened at 75.50 on Friday. 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 company’s market cap is GBX 275.22 million.
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In related news, insider Roger Witts sold 17,319 shares of the stock in a transaction on 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 Faroe Petroleum plc stock in a transaction that occurred on 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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