A number of research firms have changed their ratings and price targets for Faroe Petroleum (LON: FPM):

  • 1/15/2019 – Faroe Petroleum was downgraded by analysts at Jefferies Financial Group Inc to a “hold” rating. They now have a GBX 160 ($2.09) price target on the stock, down previously from GBX 170 ($2.22).
  • 1/10/2019 – Faroe Petroleum had its price target lowered by analysts at Barclays PLC from GBX 185 ($2.42) to GBX 165 ($2.16). They now have an “equal weight” rating on the stock.
  • 1/8/2019 – Faroe Petroleum had its price target lowered by analysts at Peel Hunt from GBX 180 ($2.35) to GBX 175 ($2.29). They now have a “buy” rating on the stock.
  • 12/27/2018 – Faroe Petroleum had its “buy” rating reaffirmed by analysts at Peel Hunt.
  • 12/18/2018 – Faroe Petroleum had its “equal weight” rating reaffirmed by analysts at Barclays PLC.
  • 12/6/2018 – Faroe Petroleum was upgraded by analysts at Barclays PLC to an “equal weight” rating. They now have a GBX 185 ($2.42) price target on the stock, up previously from GBX 160 ($2.09).
  • 12/5/2018 – Faroe Petroleum had its “buy” rating reaffirmed by analysts at Peel Hunt. They now have a GBX 180 ($2.35) price target on the stock.
  • 11/27/2018 – Faroe Petroleum had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a GBX 190 ($2.48) price target on the stock.
  • 11/26/2018 – Faroe Petroleum had its “buy” rating reaffirmed by analysts at Peel Hunt.

LON:FPM opened at GBX 160 ($2.09) on Wednesday. Faroe Petroleum plc has a 1-year low of GBX 74.50 ($0.97) and a 1-year high of GBX 116.80 ($1.53).

In related news, insider Brent Cheshire sold 15,000 shares of the firm’s stock in a transaction on Friday, January 11th. The shares were sold at an average price of GBX 160 ($2.09), for a total value of £24,000 ($31,360.25).

Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, and development of oil and gas fields in Northwest Europe. The company has interests in the Trym, Tambar, Ula, and Ringhorne East fields in Norway; and Blane oil field in the United Kingdom. As of January 1, 2018, it had proven and probable reserves of 114.1 million barrels of oil equivalent.

Read More: Cost of Equity For A Business, Investors

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