Premier Oil (PMO) Rating Reiterated by Credit Suisse Group
Premier Oil (LON:PMO)‘s stock had its “underperform” rating reiterated by equities research analysts at Credit Suisse Group in a research note issued on Thursday. They presently have a GBX 60 ($0.81) price target on the oil producer’s stock. Credit Suisse Group’s target price would indicate a potential downside of 15.49% from the stock’s current price.
A number of other analysts have also recently weighed in on PMO. Jefferies Group reiterated a “hold” rating and issued a GBX 68 ($0.92) price target on shares of Premier Oil in a research report on Wednesday, August 23rd. Royal Bank Of Canada upped their price target on Premier Oil from GBX 75 ($1.01) to GBX 80 ($1.08) and gave the company an “outperform” rating in a research report on Tuesday, August 22nd. Deutsche Bank upped their price target on Premier Oil from GBX 65 ($0.87) to GBX 67 ($0.90) and gave the company a “hold” rating in a research report on Friday, October 13th. Peel Hunt reiterated a “buy” rating and issued a GBX 80 ($1.08) price target on shares of Premier Oil in a research report on Wednesday, August 23rd. Finally, Barclays cut Premier Oil to an “underweight” rating and lowered their price target for the company from GBX 72 ($0.97) to GBX 70 ($0.94) in a research report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of GBX 77.67 ($1.05).
Shares of Premier Oil (PMO) traded up GBX 0.24 ($0.00) during trading hours on Thursday, reaching GBX 70.99 ($0.96). The company’s stock had a trading volume of 2,634,510 shares, compared to its average volume of 4,600,000. Premier Oil has a 52-week low of GBX 42.75 ($0.58) and a 52-week high of GBX 99.50 ($1.34).
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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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