Premier Oil PLC (LON:PMO) Price Target Cut to GBX 80
Premier Oil PLC (LON:PMO) had its price target dropped by analysts at Peel Hunt from GBX 90 ($1.18) to GBX 80 ($1.04) in a research note issued on Thursday. The firm currently has a “buy” rating on the oil producer’s stock. Peel Hunt’s price target would indicate a potential upside of 38.53% from the stock’s previous close.
A number of other research firms also recently issued reports on PMO. Deutsche Bank AG raised their price target on Premier Oil PLC from GBX 74 ($0.97) to GBX 75 ($0.98) and gave the stock a “hold” rating in a research note on Tuesday, April 18th. GMP Securities restated a “speculative buy” rating on shares of Premier Oil PLC in a research note on Friday, June 16th. Credit Suisse Group raised their price target on Premier Oil PLC from GBX 40 ($0.52) to GBX 60 ($0.78) and gave the stock an “underperform” rating in a research note on Friday, March 24th. Jefferies Group LLC downgraded Premier Oil PLC to a “hold” rating and dropped their price target for the stock from GBX 90 ($1.18) to GBX 68 ($0.89) in a research note on Wednesday, May 17th. Finally, Barclays PLC raised their price target on Premier Oil PLC from GBX 57 ($0.74) to GBX 72 ($0.94) and gave the stock an “equal weight” rating in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Premier Oil PLC presently has an average rating of “Hold” and an average price target of GBX 84.90 ($1.11).
Shares of Premier Oil PLC (LON PMO) opened at 57.75 on Thursday. Premier Oil PLC has a 52 week low of GBX 42.75 and a 52 week high of GBX 99.50. The firm has a 50 day moving average price of GBX 52.41 and a 200 day moving average price of GBX 66.12. The company’s market capitalization is GBX 294.53 million.
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In other Premier Oil PLC news, insider Tony Durrant purchased 226,868 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were acquired at an average cost of GBX 44 ($0.57) per share, with a total value of £99,821.92 ($130,349.86). Also, insider Richard Rose purchased 25,000 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were acquired at an average cost of GBX 45 ($0.59) per share, for a total transaction of £11,250 ($14,690.52). Over the last three months, insiders have acquired 252,564 shares of company stock worth $11,147,100.
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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