Macquarie Reaffirms Outperform Rating for Faroe Petroleum plc (FPM)
Macquarie reissued their outperform rating on shares of Faroe Petroleum plc (LON:FPM) in a research note released on Thursday morning. The brokerage currently has a GBX 114 ($1.49) price objective on the oil and gas exploration company’s stock.
Other equities analysts have also recently issued research reports about the stock. Jefferies Group LLC decreased their price objective 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 report on Wednesday, May 17th. Barclays PLC decreased their price objective 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 report on Tuesday, April 11th. Finally, Peel Hunt restated a buy rating and issued a GBX 115 ($1.50) price objective on shares of Faroe Petroleum plc in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of GBX 113.17 ($1.47).
Shares of Faroe Petroleum plc (LON:FPM) opened at 85.25 on Thursday. The company’s market cap is GBX 310.76 million. The firm’s 50-day moving average is GBX 82.97 and its 200-day moving average is GBX 95.14. Faroe Petroleum plc has a 12 month low of GBX 60.50 and a 12 month high of GBX 115.00.
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In other news, insider Roger Witts sold 17,319 shares of Faroe Petroleum plc stock in a transaction dated 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). Also, insider Graham Stewart acquired 456 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were acquired at an average cost of GBX 82 ($1.07) per share, for a total transaction of £373.92 ($487.13).
About Faroe Petroleum plc
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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