Canaccord Genuity Trims Premier Oil (PMO) Target Price to GBX 120

Premier Oil (LON:PMO) had its price objective lowered by analysts at Canaccord Genuity from GBX 130 ($1.76) to GBX 120 ($1.63) in a research report issued on Friday. The firm presently has a “buy” rating on the oil producer’s stock. Canaccord Genuity’s price objective indicates a potential upside of 32.23% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Peel Hunt reiterated a “buy” rating and issued a GBX 115 ($1.56) price objective on shares of Premier Oil in a report on Thursday. Royal Bank of Canada cut Premier Oil to a “sector performer” rating and set a GBX 100 ($1.36) price objective on the stock. in a report on Tuesday. Deutsche Bank upped their price objective on Premier Oil from GBX 65 ($0.88) to GBX 67 ($0.91) and gave the company a “hold” rating in a report on Friday, October 13th. Jefferies Group reiterated a “buy” rating and issued a GBX 90 ($1.22) price objective on shares of Premier Oil in a report on Wednesday, October 4th. Finally, Credit Suisse Group reiterated an “underperform” rating and issued a GBX 60 ($0.81) price objective on shares of Premier Oil in a report on Monday, January 8th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 92.11 ($1.25).

Premier Oil (LON PMO) traded down GBX 0.15 ($0.00) during mid-day trading on Friday, hitting GBX 90.75 ($1.23). The stock had a trading volume of 11,151,902 shares, compared to its average volume of 8,090,000. Premier Oil has a 1-year low of GBX 42.75 ($0.58) and a 1-year high of GBX 104.56 ($1.42).

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Premier Oil Company Profile

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.

Analyst Recommendations for Premier Oil (LON:PMO)

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