Faroe Petroleum plc (FPM) Given “Buy” Rating at Peel Hunt
Peel Hunt reissued their buy rating on shares of Faroe Petroleum plc (LON:FPM) in a research report released on Tuesday morning. They currently have a GBX 115 ($1.49) price target on the oil and gas exploration company’s stock.
A number of other brokerages have also issued reports on FPM. Jefferies Group LLC decreased their target price on shares of Faroe Petroleum plc from GBX 142 ($1.83) to GBX 125 ($1.61) and set a buy rating on the stock in a research report on Wednesday, May 17th. Barclays PLC upgraded shares of Faroe Petroleum plc to an overweight rating and increased their target price for the stock from GBX 110 ($1.42) to GBX 115 ($1.49) in a research report on Monday, July 31st. Finally, Macquarie increased their target price on shares of Faroe Petroleum plc from GBX 114 ($1.47) to GBX 120 ($1.55) and gave the stock an outperform rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Faroe Petroleum plc currently has an average rating of Buy and a consensus price target of GBX 118 ($1.52).
Shares of Faroe Petroleum plc (LON:FPM) opened at 98.50 on Tuesday. Faroe Petroleum plc has a 12-month low of GBX 60.50 and a 12-month high of GBX 115.00. The firm’s 50-day moving average price is GBX 87.80 and its 200-day moving average price is GBX 91.03. The firm’s market capitalization is GBX 359.06 million.
In other Faroe Petroleum plc news, insider Graham Stewart bought 456 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were purchased at an average price of GBX 82 ($1.06) per share, for a total transaction of £373.92 ($482.91).
About Faroe Petroleum plc
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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