Premier Oil (PMO) PT Lowered to GBX 90
Premier Oil (LON:PMO) had its price objective reduced by Berenberg Bank from GBX 140 ($1.83) to GBX 90 ($1.18) in a research note published on Wednesday morning. Berenberg Bank currently has a hold rating on the oil producer’s stock.
Other equities analysts have also recently issued research reports about the company. Peel Hunt reiterated a buy rating on shares of Premier Oil in a research note on Tuesday. UBS Group reiterated a buy rating on shares of Premier Oil in a research note on Friday, November 16th. Jefferies Financial Group reiterated a buy rating and issued a GBX 225 ($2.94) price objective on shares of Premier Oil in a research note on Monday, October 22nd. Barclays decreased their price objective on Premier Oil from GBX 180 ($2.35) to GBX 130 ($1.70) and set an overweight rating for the company in a research note on Monday, November 19th. Finally, Royal Bank of Canada decreased their price objective on Premier Oil from GBX 230 ($3.01) to GBX 200 ($2.61) and set a top pick rating for the company in a research note on Monday, December 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of GBX 137.78 ($1.80).
Shares of PMO traded up GBX 2.90 ($0.04) during midday trading on Wednesday, hitting GBX 79 ($1.03). The company had a trading volume of 14,733,344 shares, compared to its average volume of 8,200,000. Premier Oil has a 1 year low of GBX 42.75 ($0.56) and a 1 year high of GBX 104.56 ($1.37).
About Premier Oil
Premier Oil plc, an oil and gas company, engages in the exploration, production, and development of oil and gas properties primarily in the Falkland Islands, Indonesia, Pakistan, the United Kingdom, Vietnam, and internationally. As of December 31, 2017, it had proven and probable reserves (2P) of 302 million barrels of oil equivalent (mmboe); and 2P reserves and 2C resources of 902 mmboe.
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