Faroe Petroleum (FPM) Raised to Equal Weight at Barclays
Barclays upgraded shares of Faroe Petroleum (LON:FPM) to an equal weight rating in a research note issued to investors on Thursday. The firm currently has GBX 185 ($2.42) target price on the oil and gas exploration company’s stock, up from their previous target price of GBX 160 ($2.09).
Several other research analysts have also recently commented on FPM. Peel Hunt restated a buy rating on shares of Faroe Petroleum in a research report on Wednesday, August 8th. BMO Capital Markets upped their target price on shares of Faroe Petroleum from GBX 156 ($2.04) to GBX 160 ($2.09) and gave the stock an outperform rating in a research report on Friday, August 17th. Jefferies Financial Group restated a buy rating and issued a GBX 190 ($2.48) target price on shares of Faroe Petroleum in a research report on Monday, October 22nd. Finally, Canaccord Genuity restated a buy rating and issued a GBX 190 ($2.48) target price on shares of Faroe Petroleum in a research report on Tuesday, November 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Faroe Petroleum currently has a consensus rating of Buy and an average price target of GBX 171.71 ($2.24).
LON FPM traded down GBX 1 ($0.01) on Thursday, hitting GBX 152.40 ($1.99). The stock had a trading volume of 924,227 shares, compared to its average volume of 643,390. Faroe Petroleum has a one year low of GBX 74.50 ($0.97) and a one year high of GBX 116.80 ($1.53).
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.
Featured Story: What are the economic characteristics of a bear market?
Receive News & Ratings for Faroe Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Faroe Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.