Premier Oil PLC (LON:PMO) PT Lowered to GBX 80
Premier Oil PLC (LON:PMO) had its price objective trimmed by Peel Hunt from GBX 90 ($1.18) to GBX 80 ($1.04) in a report released on Thursday morning. The brokerage currently has a buy rating on the oil producer’s stock.
Several other equities research analysts also recently issued reports on PMO. GMP Securities reaffirmed a speculative buy rating on shares of Premier Oil PLC in a research note on Thursday, March 23rd. Credit Suisse Group lifted their price target on shares of Premier Oil PLC from GBX 40 ($0.52) to GBX 60 ($0.78) and gave the stock an underperform rating in a research note on Friday, March 24th. Barclays PLC dropped their price target on shares of Premier Oil PLC from GBX 100 ($1.31) to GBX 70 ($0.91) and set an equal weight rating on the stock in a research note on Tuesday, April 11th. Deutsche Bank AG lifted their price target on shares of Premier Oil PLC from GBX 74 ($0.97) to GBX 75 ($0.98) and gave the stock a hold rating in a research note on Tuesday, April 18th. Finally, Canaccord Genuity reaffirmed a hold rating and set a GBX 65 ($0.85) price target on shares of Premier Oil PLC in a research note on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Premier Oil PLC presently has a consensus rating of Hold and a consensus target price of GBX 84.90 ($1.11).
Shares of Premier Oil PLC (PMO) opened at 56.50 on Thursday. Premier Oil PLC has a 52-week low of GBX 42.75 and a 52-week high of GBX 99.50. The stock’s 50 day moving average price is GBX 52.41 and its 200-day moving average price is GBX 66.12. The stock’s market cap is GBX 288.15 million.
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In other Premier Oil PLC news, insider Richard Rose purchased 25,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was acquired at an average cost of GBX 45 ($0.59) per share, with a total value of £11,250 ($14,690.52). Also, insider Tony Durrant purchased 226,868 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was acquired at an average cost of GBX 44 ($0.57) per share, with a total value of £99,821.92 ($130,349.86). Over the last three months, insiders have acquired 252,564 shares of company stock valued at $11,147,100.
About Premier Oil PLC
Premier Oil plc is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan, the Falkland Islands and Latin America. The Company is engaged in the business of upstream oil and gas exploration and production. The Company’s operations are located and managed in six business units: the Falkland Islands, Indonesia, Pakistan (including Mauritania), the United Kingdom, Vietnam and the Rest of the World.
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