Faroe Petroleum’s (FPM) Outperform Rating Reiterated at BMO Capital Markets

Faroe Petroleum (LON:FPM)‘s stock had its “outperform” rating reiterated by investment analysts at BMO Capital Markets in a research note issued on Monday. They presently have a GBX 125 ($1.75) price objective on the oil and gas exploration company’s stock. BMO Capital Markets’ target price suggests a potential upside of 25.63% from the stock’s previous close.

A number of other research analysts also recently commented on FPM. Whitman Howard raised shares of Faroe Petroleum to a “buy” rating in a research report on Monday. Barclays reissued an “overweight” rating and issued a GBX 115 ($1.61) price objective on shares of Faroe Petroleum in a report on Wednesday, January 31st. Peel Hunt boosted their target price on shares of Faroe Petroleum from GBX 115 ($1.61) to GBX 125 ($1.75) and gave the company a “buy” rating in a research report on Monday, January 8th. Finally, Jefferies Group restated a “buy” rating and issued a GBX 125 ($1.75) target price on shares of Faroe Petroleum in a research report on Tuesday, November 21st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of GBX 120.83 ($1.69).

Shares of Faroe Petroleum (LON:FPM) traded up GBX 8.30 ($0.12) on Monday, hitting GBX 99.50 ($1.40). 1,401,734 shares of the stock were exchanged, compared to its average volume of 826,678. Faroe Petroleum has a 52 week low of GBX 74.50 ($1.04) and a 52 week high of GBX 116.80 ($1.64). The company has a market cap of $361.73 and a P/E ratio of -1,658.33.

In other news, insider Graham Stewart bought 367 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was bought 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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