Premier Oil (PMOIY) Cut to Sector Perform at Royal Bank of Canada
Premier Oil (OTCMKTS:PMOIY) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday.
Separately, Zacks Investment Research raised shares of Premier Oil from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research note on Tuesday, December 26th.
Premier Oil (OTCMKTS PMOIY) traded up $0.08 during mid-day trading on Tuesday, reaching $1.51. 1,100 shares of the company traded hands, compared to its average volume of 1,814. Premier Oil has a fifty-two week low of $0.56 and a fifty-two week high of $1.48. The firm has a market capitalization of $768.84, a price-to-earnings ratio of 150.99 and a beta of 2.53. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 3.11.
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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