Faroe Petroleum plc (LON:FPM) has earned a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on 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 ($1.54).

A number of brokerages have recently weighed in on FPM. Peel Hunt boosted their price target on Faroe Petroleum plc from GBX 110 ($1.45) to GBX 115 ($1.51) and gave the company a “buy” rating in a report on Thursday, July 27th. Macquarie reiterated an “outperform” rating and issued a GBX 114 ($1.50) price target on shares of Faroe Petroleum plc in a report on Thursday, July 27th. Barclays PLC upgraded Faroe Petroleum plc to an “overweight” rating and boosted their price target for the company from GBX 110 ($1.45) to GBX 115 ($1.51) in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a GBX 125 ($1.64) price target on shares of Faroe Petroleum plc in a report on Thursday, August 10th.

Shares of Faroe Petroleum plc (LON:FPM) opened at GBX 102.25 ($1.34) on Friday. Faroe Petroleum plc has a twelve month low of GBX 70.50 ($0.93) and a twelve month high of GBX 115 ($1.51).

In other news, insider Helge Hammer purchased 389 shares of the stock in a transaction dated Wednesday, September 27th. The stock was acquired at an average cost of GBX 98 ($1.29) per share, for a total transaction of £381.22 ($501.41).

TRADEMARK VIOLATION WARNING: This piece of content was originally posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/11/24/faroe-petroleum-plc-fpm-receives-average-rating-of-buy-from-analysts.html.

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.

Analyst Recommendations for Faroe Petroleum plc (LON:FPM)

Receive News & Ratings for Faroe Petroleum plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Faroe Petroleum plc and related companies with MarketBeat.com's FREE daily email newsletter.