Faroe Petroleum plc (FPM) Given Average Rating of “Buy” by Analysts
Shares of Faroe Petroleum plc (LON:FPM) have received a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five 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 117 ($1.55).
A number of equities research analysts have commented on FPM shares. Jefferies Group LLC restated a “buy” rating and issued a GBX 125 ($1.66) price target on shares of Faroe Petroleum plc in a report on Wednesday. Peel Hunt restated a “buy” rating and issued a GBX 115 ($1.53) price target on shares of Faroe Petroleum plc in a report on Monday. Barclays PLC reduced their price target on shares of Faroe Petroleum plc from GBX 115 ($1.53) to GBX 110 ($1.46) and set an “overweight” rating for the company in a report on Wednesday, September 27th. Finally, Macquarie raised their price target on shares of Faroe Petroleum plc from GBX 114 ($1.51) to GBX 120 ($1.59) and gave the stock an “outperform” rating in a report on Tuesday, September 12th.
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Shares of Faroe Petroleum plc (LON FPM) traded up 1.80% during trading on Wednesday, reaching GBX 99.00. 468,176 shares of the company were exchanged. Faroe Petroleum plc has a 52-week low of GBX 70.11 and a 52-week high of GBX 115.00. The firm’s market cap is GBX 360.88 million. The stock’s 50-day moving average is GBX 92.59 and its 200-day moving average is GBX 90.96.
In related news, insider Helge Hammer purchased 389 shares of Faroe Petroleum plc stock in a transaction on Wednesday, September 27th. The stock was acquired at an average cost of GBX 98 ($1.30) per share, for a total transaction of £381.22 ($505.66).
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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