Premier Oil PLC (PMO) Price Target Cut to GBX 60
Premier Oil PLC (LON:PMO) had its target price cut by stock analysts at Canaccord Genuity from GBX 85 ($1.06) to GBX 60 ($0.75) in a research report issued on Friday. The firm presently has a “hold” rating on the oil producer’s stock. Canaccord Genuity’s price target indicates a potential upside of 6.19% from the stock’s current price.
Several other research analysts also recently weighed in on PMO. Deutsche Bank AG reissued a “buy” rating on shares of Premier Oil PLC in a research report on Monday, July 25th. Numis Securities Ltd reissued an “under review” rating on shares of Premier Oil PLC in a research report on Monday, July 25th. Barclays PLC reissued an “overweight” rating and issued a GBX 100 ($1.25) target price on shares of Premier Oil PLC in a research report on Tuesday, August 2nd. Liberum Capital reissued a “buy” rating and issued a GBX 136 ($1.70) target price on shares of Premier Oil PLC in a research report on Friday, August 5th. Finally, Davy Research reissued a “neutral” rating on shares of Premier Oil PLC in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Premier Oil PLC presently has a consensus rating of “Hold” and a consensus target price of GBX 96.06 ($1.20).
Shares of Premier Oil PLC (LON:PMO) opened at 56.50 on Friday. Premier Oil PLC has a 1-year low of GBX 19.00 and a 1-year high of GBX 82.00. The company’s 50-day moving average is GBX 65.94 and its 200 day moving average is GBX 68.41. The stock’s market cap is GBX 288.60 million.
About Premier Oil PLC
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.
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