Faroe Petroleum’s (FPM) “Buy” Rating Reiterated at Jefferies Group
Faroe Petroleum (LON:FPM)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group in a report issued on Wednesday. They presently have a GBX 125 ($1.68) price target on the oil and gas exploration company’s stock. Jefferies Group’s price target would suggest a potential upside of 23.76% from the company’s previous close.
A number of other research firms have also recently commented on FPM. Peel Hunt reissued a “buy” rating and issued a GBX 115 ($1.55) price target on shares of Faroe Petroleum in a research note on Friday, November 10th. Barclays reissued an “overweight” rating and issued a GBX 110 ($1.48) price target on shares of Faroe Petroleum in a research note on Wednesday, November 22nd. Finally, Macquarie boosted their price target on shares of Faroe Petroleum from GBX 114 ($1.53) to GBX 120 ($1.62) and gave the stock an “outperform” rating in a research note on Tuesday, September 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Faroe Petroleum currently has an average rating of “Buy” and a consensus target price of GBX 117 ($1.57).
Shares of Faroe Petroleum (LON FPM) traded up GBX 3.50 ($0.05) during trading hours on Wednesday, reaching GBX 101 ($1.36). 416,590 shares of the company traded hands, compared to its average volume of 412,039. The stock has a market capitalization of $362.98 and a PE ratio of -1,683.33. Faroe Petroleum has a 12 month low of GBX 74.50 ($1.00) and a 12 month high of GBX 115 ($1.55).
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Faroe Petroleum 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.
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