Faroe Petroleum plc (FPM) Given Average Recommendation of “Buy” by Analysts

Faroe Petroleum plc (LON:FPM) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is GBX 120 ($1.68).

FPM has been the topic of several research analyst reports. Barclays reiterated an “overweight” rating and issued a GBX 110 ($1.54) price objective on shares of Faroe Petroleum in a report on Wednesday, November 22nd. Jefferies Group restated a “buy” rating and set a GBX 125 ($1.75) target price on shares of Faroe Petroleum in a report on Wednesday, December 20th. Finally, Peel Hunt boosted their target price on Faroe Petroleum from GBX 115 ($1.61) to GBX 125 ($1.75) and gave the stock a “buy” rating in a report on Monday, January 8th.

Shares of Faroe Petroleum (LON FPM) opened at GBX 100 ($1.40) on Wednesday. Faroe Petroleum has a twelve month low of GBX 74.50 ($1.04) and a twelve month high of GBX 116.80 ($1.64). The stock has a market capitalization of $366.64 and a PE ratio of -1,666.67.

In related news, insider Graham Stewart bought 367 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were acquired at an average cost of GBX 102 ($1.43) per share, for a total transaction of £374.34 ($524.87).

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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.

Analyst Recommendations for Faroe Petroleum (LON:FPM)

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