Premier Oil (PMO) Price Target Raised to GBX 130
Premier Oil (LON:PMO) had its price objective hoisted by Peel Hunt from GBX 100 ($1.36) to GBX 130 ($1.76) in a report released on Monday morning. The brokerage currently has a buy rating on the oil producer’s stock.
Several other equities research analysts also recently weighed in on PMO. Credit Suisse Group reissued an underperform rating and issued a GBX 60 ($0.81) price objective on shares of Premier Oil in a report on Tuesday, September 19th. Jefferies Group reissued a buy rating and issued a GBX 90 ($1.22) price objective on shares of Premier Oil in a report on Wednesday, October 4th. Deutsche Bank upped their price target on Premier Oil from GBX 65 ($0.88) to GBX 67 ($0.91) and gave the stock a hold rating in a research note on Friday, October 13th. Finally, Barclays cut Premier Oil to an underweight rating and cut their price target for the stock from GBX 72 ($0.98) to GBX 70 ($0.95) in a research note on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Premier Oil has an average rating of Hold and an average target price of GBX 83.22 ($1.13).
Premier Oil (LON PMO) traded up GBX 2 ($0.03) during mid-day trading on Monday, hitting GBX 91 ($1.23). The stock had a trading volume of 6,796,367 shares, compared to its average volume of 4,330,000. Premier Oil has a 1-year low of GBX 42.75 ($0.58) and a 1-year high of GBX 99.50 ($1.35).
About Premier Oil
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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