Faroe Petroleum’s (FPM) Overweight Rating Reaffirmed at Barclays
Faroe Petroleum (LON:FPM)‘s stock had its “overweight” rating reaffirmed by investment analysts at Barclays in a research note issued to investors on Monday. They presently have a GBX 115 ($1.56) price objective on the oil and gas exploration company’s stock, up from their prior price objective of GBX 110 ($1.49). Barclays’ price target would indicate a potential upside of 2.68% from the company’s previous close.
Several other analysts also recently weighed in on the company. Jefferies Group restated a “buy” rating and set a GBX 125 ($1.70) target price on shares of Faroe Petroleum in a research note on Wednesday, December 20th. Peel Hunt reissued a “buy” rating and issued a GBX 115 ($1.56) target price on shares of Faroe Petroleum in a report on Tuesday, September 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Faroe Petroleum presently has an average rating of “Buy” and a consensus price target of GBX 120 ($1.63).
Faroe Petroleum (LON:FPM) traded up GBX 1 ($0.01) during mid-day trading on Monday, hitting GBX 112 ($1.52). The stock had a trading volume of 733,780 shares, compared to its average volume of 422,558. The firm has a market cap of $410.64 and a P/E ratio of -1,866.67. Faroe Petroleum has a 1-year low of GBX 74.50 ($1.01) and a 1-year high of GBX 115 ($1.56).
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About Faroe Petroleum
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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