Premier Oil PLC’s (PMO) “Buy” Rating Reiterated at Peel Hunt
Peel Hunt reissued their buy rating on shares of Premier Oil PLC (LON:PMO) in a research report sent to investors on Wednesday. The brokerage currently has a GBX 90 ($1.17) price target on the oil producer’s stock.
Several other analysts have also recently commented on PMO. GMP Securities restated a speculative buy rating on shares of Premier Oil PLC in a report on Wednesday, March 15th. Credit Suisse Group lifted their price target on Premier Oil PLC from GBX 40 ($0.52) to GBX 60 ($0.78) and gave the company an underperform rating in a report on Friday, March 24th. Barclays PLC lowered their price target on Premier Oil PLC from GBX 100 ($1.30) to GBX 70 ($0.91) and set an equal weight rating for the company in a report on Tuesday, April 11th. Deutsche Bank AG lifted their price target on Premier Oil PLC from GBX 74 ($0.96) to GBX 75 ($0.97) and gave the company a hold rating in a report on Tuesday, April 18th. Finally, Canaccord Genuity restated a hold rating and issued a GBX 65 ($0.84) price target on shares of Premier Oil PLC in a report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Premier Oil PLC presently has a consensus rating of Hold and a consensus price target of GBX 80.40 ($1.04).
Premier Oil PLC (LON PMO) opened at 61.75 on Wednesday. The firm’s market cap is GBX 314.93 million. Premier Oil PLC has a 52-week low of GBX 42.75 and a 52-week high of GBX 99.50. The firm has a 50-day moving average of GBX 54.56 and a 200-day moving average of GBX 67.78.
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In other Premier Oil PLC news, insider Tony Durrant acquired 226,868 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were bought at an average cost of GBX 44 ($0.57) per share, for a total transaction of £99,821.92 ($129,303.01). Also, insider Richard Rose acquired 25,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were acquired at an average price of GBX 45 ($0.58) per share, for a total transaction of £11,250 ($14,572.54). Insiders have acquired a total of 252,564 shares of company stock worth $11,147,100 over the last 90 days.
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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