Peel Hunt Reiterates “Buy” Rating for Premier Oil plc (PMO)
Premier Oil plc (LON:PMO)‘s stock had its “buy” rating restated by investment analysts at Peel Hunt in a research report issued to clients and investors on Thursday. They presently have a GBX 100 ($1.32) price objective on the oil producer’s stock. Peel Hunt’s target price suggests a potential upside of 47.06% from the stock’s current price.
Several other research analysts have also recently weighed in on PMO. Barclays PLC restated an “equal weight” rating and set a GBX 72 ($0.95) target price on shares of Premier Oil plc in a report on Friday, July 21st. Royal Bank Of Canada boosted their target price on Premier Oil plc from GBX 75 ($0.99) to GBX 80 ($1.05) and gave the stock an “outperform” rating in a report on Tuesday, August 22nd. Jefferies Group LLC restated a “hold” rating and set a GBX 68 ($0.89) target price on shares of Premier Oil plc in a report on Wednesday, August 23rd. Macquarie lowered their target price on Premier Oil plc from GBX 41 ($0.54) to GBX 40 ($0.53) and set an “underperform” rating on the stock in a report on Tuesday, August 29th. Finally, Credit Suisse Group restated an “underperform” rating and set a GBX 60 ($0.79) target price on shares of Premier Oil plc in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of GBX 77.89 ($1.02).
Shares of Premier Oil plc (LON:PMO) traded down GBX 2 ($0.03) during trading on Thursday, hitting GBX 68 ($0.89). The stock had a trading volume of 4,109,037 shares, compared to its average volume of 3,900,000. Premier Oil plc has a fifty-two week low of GBX 42.75 ($0.56) and a fifty-two week high of GBX 99.50 ($1.31).
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About Premier Oil plc
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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