Premier Oil PLC (PMO) Given Underperform Rating at Credit Suisse Group
Credit Suisse Group reiterated their underperform rating on shares of Premier Oil PLC (LON:PMO) in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a GBX 60 ($0.81) price objective on the oil producer’s stock.
Several other brokerages have also recently commented on PMO. Deutsche Bank AG reiterated a hold rating and issued a GBX 56 ($0.76) price target on shares of Premier Oil PLC in a research note on Thursday, July 13th. Barclays PLC boosted their price target on shares of Premier Oil PLC from GBX 57 ($0.77) to GBX 72 ($0.97) and gave the stock an equal weight rating in a research note on Friday, July 14th. Peel Hunt decreased their price target on shares of Premier Oil PLC from GBX 90 ($1.21) to GBX 80 ($1.08) and set a buy rating on the stock in a research note on Thursday, July 20th. Jefferies Group LLC upgraded shares of Premier Oil PLC to a buy rating and boosted their price target for the stock from GBX 68 ($0.92) to GBX 90 ($1.21) in a research note on Tuesday, August 29th. Finally, Macquarie decreased their price target on shares of Premier Oil PLC from GBX 41 ($0.55) to GBX 40 ($0.54) and set an underperform rating on the stock in a research note on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of GBX 74.11 ($1.00).
Premier Oil PLC (LON PMO) opened at 62.00 on Tuesday. The company has a 50-day moving average price of GBX 56.99 and a 200-day moving average price of GBX 58.09. The company’s market cap is GBX 316.70 million. Premier Oil PLC has a 1-year low of GBX 42.75 and a 1-year high of GBX 99.50.
In other Premier Oil PLC news, insider Richard Rose bought 25,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were purchased at an average cost of GBX 45 ($0.61) per share, for a total transaction of £11,250 ($15,167.86). Insiders have bought a total of 25,674 shares of company stock worth $1,162,431 over the last 90 days.
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.
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