Premier Oil PLC (LON:PMO) had its price target reduced by research analysts at Macquarie from GBX 41 ($0.53) to GBX 40 ($0.52) in a note issued to investors on Tuesday. The firm currently has an “underperform” rating on the oil producer’s stock. Macquarie’s target price points to a potential downside of 26.27% from the stock’s current price.

Several other research firms have also recently issued reports on PMO. Deutsche Bank AG reaffirmed a “hold” rating and issued a GBX 56 ($0.72) price objective on shares of Premier Oil PLC in a research report on Thursday, July 13th. Barclays PLC upped their price objective on Premier Oil PLC from GBX 57 ($0.74) to GBX 72 ($0.93) and gave the company an “equal weight” rating in a research report on Friday, July 14th. Peel Hunt lowered their price objective on Premier Oil PLC from GBX 90 ($1.16) to GBX 80 ($1.03) and set a “buy” rating on the stock in a research report on Thursday, July 20th. Jefferies Group LLC cut Premier Oil PLC to a “hold” rating and lowered their price objective for the company from GBX 90 ($1.16) to GBX 68 ($0.88) in a research report on Wednesday, May 17th. Finally, Canaccord Genuity reaffirmed 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of GBX 74.11 ($0.96).

Premier Oil PLC (LON:PMO) opened at 54.25 on Tuesday. Premier Oil PLC has a 52-week low of GBX 42.75 and a 52-week high of GBX 99.50. The firm’s 50 day moving average price is GBX 56.56 and its 200 day moving average price is GBX 60.29. The firm’s market cap is GBX 277.11 million.

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In other news, insider Tony Durrant purchased 226,868 shares of the stock in a transaction dated Thursday, June 22nd. The shares were purchased at an average cost of GBX 44 ($0.57) per share, with a total value of £99,821.92 ($129,102.33). Also, insider Richard Rose purchased 25,000 shares of the stock in a transaction dated Monday, June 26th. The shares were purchased at an average cost of GBX 45 ($0.58) per share, for a total transaction of £11,250 ($14,549.92). Insiders have bought a total of 252,319 shares of company stock worth $11,132,135 over the last three months.

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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