Faroe Petroleum plc’s (FPM) “Buy” Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Faroe Petroleum plc (LON:FPM) in a report released on Tuesday morning. They currently have a GBX 125 ($1.62) price objective on the oil and gas exploration company’s stock.
Other research analysts have also issued research reports about the company. Peel Hunt reiterated a buy rating and set a GBX 115 ($1.49) price target on shares of Faroe Petroleum plc in a report on Wednesday, June 21st. Macquarie restated an outperform rating and issued a GBX 114 ($1.47) price objective on shares of Faroe Petroleum plc in a report on Thursday, July 27th. Finally, Barclays PLC upgraded shares of Faroe Petroleum plc to an overweight rating and boosted their price objective for the company from GBX 110 ($1.42) to GBX 115 ($1.49) in a report on Monday, July 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Faroe Petroleum plc presently has a consensus rating of Buy and a consensus price target of GBX 116.80 ($1.51).
Faroe Petroleum plc (LON:FPM) opened at 86.50 on Tuesday. The firm’s 50-day moving average is GBX 84.19 and its 200-day moving average is GBX 92.05. Faroe Petroleum plc has a 52-week low of GBX 60.50 and a 52-week high of GBX 115.00. The company’s market cap is GBX 315.32 million.
In related news, insider Graham Stewart acquired 456 shares of Faroe Petroleum plc stock in a transaction that occurred on Wednesday, June 28th. The shares were purchased at an average cost of GBX 82 ($1.06) per share, for a total transaction of £373.92 ($483.60).
Faroe Petroleum plc Company Profile
Faroe Petroleum plc is an oil and gas company. The Company is focused on exploration, appraisal and production opportunities in Norway and the United Kingdom. Its portfolio consists of approximately 60 exploration, appraisal, development and production licenses in the West of Shetland, the North Sea, Norwegian Sea, Barents Sea and the Celtic Sea.
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