Faroe Petroleum (FPM) Rating Reiterated by Barclays
Barclays reissued their overweight rating on shares of Faroe Petroleum (LON:FPM) in a report issued on Monday morning. They currently have a GBX 115 ($1.56) target price on the oil and gas exploration company’s stock, up from their prior target price of GBX 110 ($1.49).
Several other research firms also recently commented on FPM. Peel Hunt restated a buy rating and set a GBX 115 ($1.56) price objective on shares of Faroe Petroleum in a report on Tuesday, September 26th. Jefferies Group restated a buy rating and set a GBX 125 ($1.70) price objective on shares of Faroe Petroleum in a report on Wednesday, December 20th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of GBX 120 ($1.63).
Shares of Faroe Petroleum (FPM) traded up GBX 2 ($0.03) on Monday, reaching GBX 114 ($1.55). The company’s stock had a trading volume of 960,295 shares, compared to its average volume of 442,121. Faroe Petroleum has a 12-month low of GBX 74.50 ($1.01) and a 12-month high of GBX 115 ($1.56). The firm has a market capitalization of $416.52 and a price-to-earnings ratio of -1,900.00.
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Faroe Petroleum 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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