Premier Oil PLC (LON:PMO) had its target price cut by research analysts at Macquarie from GBX 69 ($0.89) to GBX 14 ($0.18) in a report issued on Wednesday, June 21st. The firm currently has an “underperform” rating on the oil producer’s stock. Macquarie’s price target indicates a potential downside of 77.05% from the company’s current price.

Other research analysts have also recently issued reports about the company. Peel Hunt restated a “buy” rating and issued a GBX 90 ($1.17) price objective on shares of Premier Oil PLC in a research note on Monday, May 15th. Jefferies Group LLC reduced their price target on Premier Oil PLC from GBX 106 ($1.37) to GBX 90 ($1.17) and set a “buy” rating for the company in a research report on Monday, March 13th. Barclays PLC restated an “equal weight” rating on shares of Premier Oil PLC in a research report on Tuesday, February 28th. Canaccord Genuity restated a “hold” rating and issued a GBX 65 ($0.84) price objective on shares of Premier Oil PLC in a research report on Tuesday, May 16th. Finally, Deutsche Bank AG boosted their price objective on Premier Oil PLC from GBX 74 ($0.96) to GBX 75 ($0.97) and gave the company a “hold” rating in a research report on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of GBX 80.40 ($1.04).

Shares of Premier Oil PLC (LON PMO) traded down 2.01% during mid-day trading on Wednesday, hitting GBX 61.00. 4,479,073 shares of the stock traded hands. Premier Oil PLC has a 1-year low of GBX 42.75 and a 1-year high of GBX 99.50. The company’s 50-day moving average price is GBX 54.56 and its 200 day moving average price is GBX 67.78. The company’s market capitalization is GBX 311.10 million.

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In related news, insider Richard Rose acquired 25,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was bought at an average cost of GBX 45 ($0.58) per share, with a total value of £11,250 ($14,572.54). Also, insider Tony Durrant acquired 226,868 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were bought at an average cost of GBX 44 ($0.57) per share, with a total value of £99,821.92 ($129,303.01). Over the last three months, insiders purchased 252,564 shares of company stock valued at $11,147,100.

Premier Oil PLC Company Profile

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.

Analyst Recommendations for Premier Oil PLC (LON:PMO)

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