Faroe Petroleum plc’s (FPM) Buy Rating Reaffirmed at Peel Hunt
Peel Hunt reaffirmed their buy rating on shares of Faroe Petroleum plc (LON:FPM) in a report released on Friday. Peel Hunt currently has a GBX 100 ($1.31) price target on the oil and gas exploration company’s stock.
Several other research analysts have also recently weighed in on the company. Canaccord Genuity reaffirmed a buy rating and set a GBX 100 ($1.31) price objective on shares of Faroe Petroleum plc in a research report on Thursday, September 22nd. Jefferies Group reissued a buy rating and set a GBX 100 ($1.31) price target on shares of Faroe Petroleum plc in a research report on Thursday, September 22nd. Royal Bank Of Canada reduced their price target on Faroe Petroleum plc from GBX 120 ($1.57) to GBX 100 ($1.31) and set an outperform rating for the company in a research report on Thursday, August 11th. Numis Securities Ltd reissued an under review rating on shares of Faroe Petroleum plc in a research report on Monday, July 25th. Finally, Macquarie reissued an outperform rating and set a GBX 107 ($1.40) price target (up from GBX 90 ($1.17)) on shares of Faroe Petroleum plc in a research report on Thursday, July 21st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of GBX 98.33 ($1.28).
Shares of Faroe Petroleum plc (LON:FPM) traded down 1.32% during mid-day trading on Friday, hitting GBX 70.31. The stock had a trading volume of 142,690 shares. Faroe Petroleum plc has a 52 week low of GBX 42.50 and a 52 week high of GBX 82.00. The stock’s market capitalization is GBX 189.14 million. The stock has a 50 day moving average of GBX 68.14 and a 200-day moving average of GBX 69.35.
In other Faroe Petroleum plc news, insider Read,Timothy P bought 50,000 shares of Faroe Petroleum plc stock in a transaction on Tuesday, July 19th. The shares were purchased at an average price of GBX 70 ($0.91) per share, with a total value of £35,000 ($45,685.94).
About Faroe Petroleum plc
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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