Faroe Petroleum plc (FPM) Price Target Raised to GBX 100 at Barclays PLC
Faroe Petroleum plc (LON:FPM) had its price objective hoisted by Barclays PLC from GBX 85 ($1.06) to GBX 100 ($1.25) in a research report report published on Tuesday morning. They currently have an equal weight rating on the oil and gas exploration company’s stock.
A number of other equities research analysts also recently issued reports on the company. Jefferies Group initiated coverage on Faroe Petroleum plc in a research report on Friday, September 16th. They set a buy rating and a GBX 100 ($1.25) price objective on the stock. Canaccord Genuity restated a buy rating and set a GBX 100 ($1.25) price objective on shares of Faroe Petroleum plc in a research report on Wednesday, August 31st. Peel Hunt restated a buy rating and set a GBX 100 ($1.25) price objective on shares of Faroe Petroleum plc in a research report on Friday, September 30th. Finally, Numis Securities Ltd restated an under review rating on shares of Faroe Petroleum plc in a research report on Monday, July 25th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of GBX 100.20 ($1.25).
Shares of Faroe Petroleum plc (LON:FPM) opened at 74.75 on Tuesday. The company’s market capitalization is GBX 201.08 million. Faroe Petroleum plc has a 12-month low of GBX 42.50 and a 12-month high of GBX 84.75. The firm has a 50-day moving average price of GBX 77.02 and a 200 day moving average price of GBX 71.40.
In other news, insider Graham Stewart purchased 520 shares of the stock in a transaction on Friday, September 30th. The stock was bought at an average price of GBX 72 ($0.90) per share, with a total value of £374.40 ($467.77).
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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