Faroe Petroleum plc (FPM) Price Target Raised to GBX 115
Faroe Petroleum plc (LON:FPM) had its target price boosted by Peel Hunt from GBX 110 ($1.43) to GBX 115 ($1.50) in a report issued on Thursday morning, StockTargetPrices.com reports. They currently have a buy rating on the oil and gas exploration company’s stock.
A number of other equities analysts also recently weighed in on the stock. Jefferies Group LLC cut their price target on shares of Faroe Petroleum plc from GBX 142 ($1.85) to GBX 125 ($1.63) and set a buy rating on the stock in a research note on Wednesday, May 17th. Barclays PLC cut their price target on shares of Faroe Petroleum plc from GBX 115 ($1.50) to GBX 110 ($1.43) and set an equal weight rating on the stock in a research note on Tuesday, April 11th. Finally, Macquarie cut their price target on shares of Faroe Petroleum plc from GBX 117 ($1.52) to GBX 110 ($1.43) and set an outperform rating on the stock in a research note on Wednesday, June 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of GBX 113.17 ($1.47).
Shares of Faroe Petroleum plc (FPM) opened at 85.25 on Thursday. Faroe Petroleum plc has a 12-month low of GBX 60.50 and a 12-month high of GBX 115.00. The firm’s market cap is GBX 310.76 million. The company has a 50-day moving average of GBX 82.97 and a 200 day moving average of GBX 95.14.
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In other news, insider Graham Stewart purchased 456 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was acquired at an average cost of GBX 82 ($1.07) per share, with a total value of £373.92 ($487.13). Also, insider Roger Witts sold 17,319 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of GBX 93 ($1.21), for a total transaction of £16,106.67 ($20,983.16).
Faroe Petroleum plc 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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