Analysts Set Faroe Petroleum plc (LON:FPM) Price Target at $99.27
Faroe Petroleum plc (LON:FPM) has received an average recommendation of “Buy” from the thirteen brokerages that are presently covering the firm. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is GBX 99.27 ($1.30).
A number of equities analysts have recently commented on FPM shares. Canaccord Genuity reissued a “buy” rating and issued a GBX 100 ($1.31) price target on shares of Faroe Petroleum plc in a research report on Wednesday, August 31st. Jefferies Group assumed coverage on shares of Faroe Petroleum plc in a research report on Friday, September 16th. They set a “buy” rating and a GBX 100 ($1.31) target price on the stock. Peel Hunt reaffirmed a “buy” rating and set a GBX 100 ($1.31) target price on shares of Faroe Petroleum plc in a research report on Friday. Macquarie reaffirmed an “outperform” rating and set a GBX 90 ($1.17) target price on shares of Faroe Petroleum plc in a research report on Tuesday, July 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a GBX 100 ($1.31) target price on shares of Faroe Petroleum plc in a research report on Tuesday, July 19th.
In other news, insider Read,Timothy P bought 50,000 shares of Faroe Petroleum plc stock in a transaction dated Tuesday, July 19th. The shares were bought at an average price of GBX 70 ($0.91) per share, for a total transaction of £35,000 ($45,685.94).
Shares of Faroe Petroleum plc (LON:FPM) opened at 71.7096 on Friday. Faroe Petroleum plc has a 12-month low of GBX 42.50 and a 12-month high of GBX 82.00. The company has a 50 day moving average of GBX 68.14 and a 200-day moving average of GBX 69.35. The firm’s market cap is GBX 192.90 million.
Faroe Petroleum plc Company Profile
Faroe Petroleum plc is an independent oil and gas company that is engaged in the exploration, appraisal and production opportunities in Norway and the United Kingdom. The Company has a portfolio of production assets, including Aerosmith-PL644, located approximately 20 kilometers from the Morvin and Smorbukk Fields in the province of the Norwegian Sea; Betula-PL670, located in the vicinity of the Jurassic Ula Field in the Central North Sea; Birnam-P1993, located in the north-east of the Perth Field; Caramello-PL665 S, located on the Sorvestlandet High in the Norwegian Southern North Sea; Firklover-PL676 S, located on the Viking Graben; Hyme Field-PL348, located in the southern part of the Norwegian Sea, and Samson Dome-PL534, covering approximately 900 square kilometers.
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