Faroe Petroleum plc (FPM) Given Consensus Rating of “Buy” by Analysts
Faroe Petroleum plc (LON:FPM) has received an average recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is GBX 116.80 ($1.51).
Several research analysts have recently issued reports on FPM shares. Jefferies Group LLC reduced their price objective on Faroe Petroleum plc from GBX 142 ($1.83) to GBX 125 ($1.61) and set a “buy” rating for the company in a research note on Wednesday, May 17th. Peel Hunt restated a “buy” rating and issued a GBX 115 ($1.49) price objective on shares of Faroe Petroleum plc in a research note on Thursday, May 25th. Macquarie reduced their price objective on Faroe Petroleum plc from GBX 117 ($1.51) to GBX 110 ($1.42) and set an “outperform” rating for the company in a research note on Wednesday, June 21st. Finally, Barclays PLC restated an “overweight” rating and issued a GBX 110 ($1.42) price objective on shares of Faroe Petroleum plc in a research note on Thursday, June 22nd.
In related news, insider Graham Stewart purchased 456 shares of Faroe Petroleum plc stock in a transaction that occurred on Wednesday, June 28th. The stock was bought at an average cost of GBX 82 ($1.06) per share, for a total transaction of £373.92 ($482.91).
Shares of Faroe Petroleum plc (LON:FPM) traded up 0.26% during trading on Friday, reaching GBX 97.00. The company’s stock had a trading volume of 426,284 shares. The firm’s 50-day moving average is GBX 86.32 and its 200-day moving average is GBX 91.46. Faroe Petroleum plc has a 12-month low of GBX 60.50 and a 12-month high of GBX 115.00. The stock’s market capitalization is GBX 353.59 million.
About Faroe Petroleum plc
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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