Peel Hunt Reaffirms “Buy” Rating for Premier Oil (PMO)
Premier Oil (LON:PMO)‘s stock had its “buy” rating reiterated by investment analysts at Peel Hunt in a note issued to investors on Friday.
Other analysts have also recently issued research reports about the stock. Jefferies Financial Group restated a “buy” rating and set a GBX 225 ($2.94) target price on shares of Premier Oil in a research note on Monday, October 22nd. UBS Group restated a “buy” rating and set a GBX 170 ($2.22) target price on shares of Premier Oil in a research note on Tuesday, September 18th. Berenberg Bank started coverage on shares of Premier Oil in a research note on Thursday, November 1st. They set a “hold” rating and a GBX 140 ($1.83) target price for the company. Barclays cut their target price on shares of 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 raised their target price on shares of Premier Oil from GBX 180 ($2.35) to GBX 230 ($3.01) and gave the stock a “top pick” rating in a research note on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Premier Oil presently has a consensus rating of “Buy” and an average price target of GBX 149.44 ($1.95).
LON PMO opened at GBX 68 ($0.89) on Friday. Premier Oil has a 52-week low of GBX 42.75 ($0.56) and a 52-week 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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