Premier Oil (PMO) Reaches New 1-Year High at $99.05
Premier Oil PLC (LON:PMO) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 99.05 ($1.34) and last traded at GBX 98.50 ($1.34), with a volume of 25140000 shares traded. The stock had previously closed at GBX 91 ($1.23).
PMO has been the subject of several analyst reports. Jefferies Group raised their price target on shares of Premier Oil from GBX 90 ($1.22) to GBX 110 ($1.49) and gave the stock a “buy” rating in a report on Wednesday, December 20th. Credit Suisse Group restated an “underperform” rating and set a GBX 60 ($0.81) price target on shares of Premier Oil in a report on Thursday, December 7th. Peel Hunt restated a “buy” rating and set a GBX 100 ($1.36) price target on shares of Premier Oil in a report on Thursday, November 16th. Deutsche Bank restated a “hold” rating and set a GBX 67 ($0.91) price target on shares of Premier Oil in a report on Tuesday, November 7th. Finally, Barclays lowered shares of Premier Oil to an “underweight” rating and lowered their price target for the stock from GBX 72 ($0.98) to GBX 70 ($0.95) in a report on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Premier Oil currently has an average rating of “Hold” and an average price target of GBX 83.22 ($1.13).
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Premier Oil Company Profile
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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