Barclays Raises Premier Oil (PMO) Price Target to GBX 80
Premier Oil (LON:PMO) had its target price raised by Barclays from GBX 70 ($0.95) to GBX 80 ($1.08) in a research note issued on Monday. The firm presently has an “underweight” rating on the oil producer’s stock. Barclays’ price objective would indicate a potential downside of 17.06% from the stock’s current price.
PMO has been the subject of a number of other reports. Peel Hunt reaffirmed an “under review” rating on shares of Premier Oil in a research report on Friday, January 12th. Jefferies Group increased their price target on Premier Oil from GBX 90 ($1.22) to GBX 110 ($1.49) and gave the company a “buy” rating in a research report on Wednesday, December 20th. Deutsche Bank increased their price target on Premier Oil from GBX 67 ($0.91) to GBX 70 ($0.95) and gave the company a “hold” rating in a research report on Friday, November 17th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and set a GBX 60 ($0.81) price target on shares of Premier Oil in a research report on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 87.67 ($1.19).
Shares of Premier Oil (PMO) opened at GBX 96.45 ($1.31) on Monday. Premier Oil has a 52-week low of GBX 42.75 ($0.58) and a 52-week high of GBX 104.56 ($1.42).
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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