Premier Oil PLC (PMO) Price Target Cut to GBX 80 by Analysts at Peel Hunt
Premier Oil PLC (LON:PMO) had its price target decreased by equities research analysts at Peel Hunt from GBX 90 ($1.18) to GBX 80 ($1.04) in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the oil producer’s stock. Peel Hunt’s price objective would suggest a potential upside of 38.53% from the company’s current price.
Other research analysts have also issued reports about the stock. Deutsche Bank AG reissued a “hold” rating and set a GBX 56 ($0.73) target price on shares of Premier Oil PLC in a research note on Thursday, July 13th. Barclays PLC cut their target price on shares of Premier Oil PLC from GBX 70 ($0.91) to GBX 57 ($0.74) and set an “equal weight” rating on the stock in a research note on Thursday, June 22nd. GMP Securities reissued a “speculative buy” rating on shares of Premier Oil PLC in a research note on Friday, June 16th. Canaccord Genuity reissued a “hold” rating and set a GBX 65 ($0.85) target price on shares of Premier Oil PLC in a research note on Tuesday, May 16th. Finally, Credit Suisse Group reissued an “underperform” rating and set a GBX 60 ($0.78) target price on shares of Premier Oil PLC in a research note on Thursday, April 6th. Two 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’s stock. The company has an average rating of “Hold” and a consensus price target of GBX 84.90 ($1.11).
Shares of Premier Oil PLC (PMO) traded down 0.43% during trading on Thursday, hitting GBX 57.75. 2,547,413 shares of the stock were exchanged. The stock’s market cap is GBX 295.00 million. The firm’s 50 day moving average price is GBX 52.41 and its 200-day moving average price is GBX 66.12. Premier Oil PLC has a 52 week low of GBX 42.75 and a 52 week high of GBX 99.50.
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In other Premier Oil PLC news, insider Tony Durrant bought 226,868 shares of Premier Oil PLC stock in a transaction dated Thursday, June 22nd. The stock was purchased at an average price of GBX 44 ($0.57) per share, for a total transaction of £99,821.92 ($130,349.86). Also, insider Richard Rose bought 25,000 shares of Premier Oil PLC stock in a transaction dated Monday, June 26th. The stock was acquired at an average price of GBX 45 ($0.59) per share, with a total value of £11,250 ($14,690.52). Insiders bought 252,564 shares of company stock valued at $11,147,100 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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