Faroe Petroleum plc (FPM) Given “Buy” Rating at Peel Hunt
Peel Hunt reiterated their buy rating on shares of Faroe Petroleum plc (LON:FPM) in a research report report published on Monday morning. The brokerage currently has a GBX 115 ($1.53) price objective on the oil and gas exploration company’s stock.
Other analysts have also recently issued reports about the company. Barclays PLC dropped their target price on Faroe Petroleum plc from GBX 115 ($1.53) to GBX 110 ($1.46) and set an overweight rating for the company in a report on Wednesday, September 27th. Jefferies Group LLC reissued a buy rating and set a GBX 125 ($1.66) price target on shares of Faroe Petroleum plc in a research report on Wednesday, September 27th. Finally, Macquarie raised their price objective on shares of Faroe Petroleum plc from GBX 114 ($1.51) to GBX 120 ($1.59) and gave the stock an outperform rating in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Faroe Petroleum plc presently has an average rating of Buy and a consensus price target of GBX 117 ($1.55).
Faroe Petroleum plc (FPM) opened at 96.25 on Monday. Faroe Petroleum plc has a 1-year low of GBX 70.11 and a 1-year high of GBX 115.00. The stock’s market capitalization is GBX 350.86 million. The company’s 50 day moving average is GBX 92.14 and its 200-day moving average is GBX 90.86.
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In other news, insider Helge Hammer bought 389 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was bought at an average cost of GBX 98 ($1.30) per share, with a total value of £381.22 ($505.66).
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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