Premier Oil (OTCMKTS:PMOIY) Upgraded to Hold at Zacks Investment Research
According to Zacks, “Premier Oil PLC is engaged in oil and gas exploration, development and production. The Company’s operations are located in the North Sea, Asia, Pakistan, Mauritania and the Falkland Islands, while simultaneously developing assets in Mexico and Brazil. The Company is focused on developing high quality assets in parts of the world where they have a strategic or operational advantage. Premier’s strategy is to grow shareholder value by investing in high quality production and development opportunities while maintaining exposure to upside value from successful exploration within a strict capital discipline framework. “
A number of other research firms also recently commented on PMOIY. ValuEngine raised Premier Oil from a strong sell rating to a sell rating in a report on Thursday, September 5th. Barclays cut shares of Premier Oil from an overweight rating to an equal weight rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lowered shares of Premier Oil from a buy rating to a hold rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $1.25.
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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