Premier Oil (PMO) Price Target Raised to GBX 80
Premier Oil (LON:PMO) had its price target upped by Barclays from GBX 70 ($0.95) to GBX 80 ($1.08) in a report released on Monday. The firm presently has an “underweight” rating on the oil producer’s stock. Barclays’ target price points to a potential downside of 22.33% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Peel Hunt reissued a “buy” rating and set a GBX 100 ($1.36) price objective on shares of Premier Oil in a research report on Thursday, November 16th. Jefferies Group increased their price objective on shares of Premier Oil from GBX 90 ($1.22) to GBX 110 ($1.49) and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Finally, Deutsche Bank increased their price objective on shares of Premier Oil from GBX 65 ($0.88) to GBX 67 ($0.91) and gave the stock a “hold” rating in a research report on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of GBX 85.44 ($1.16).
Premier Oil (LON PMO) traded up GBX 7.40 ($0.10) during mid-day trading on Monday, hitting GBX 103 ($1.40). 12,212,025 shares of the stock were exchanged, compared to its average volume of 6,710,000. Premier Oil has a one year low of GBX 42.75 ($0.58) and a one year high of GBX 104.56 ($1.42).
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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