Premier Oil (PMO) Trading Down 11.5%
Premier Oil PLC (LON:PMO) was down 11.5% during mid-day trading on Thursday . The stock traded as low as GBX 65.72 ($0.86) and last traded at GBX 66.10 ($0.86). Approximately 18,317,664 shares were traded during mid-day trading, an increase of 123% from the average daily volume of 8,200,000 shares. The stock had previously closed at GBX 74.65 ($0.98).
Several equities research analysts have issued reports on PMO shares. Jefferies Financial Group reissued a “buy” rating and issued a GBX 225 ($2.94) price objective on shares of Premier Oil in a research report on Monday, October 22nd. Peel Hunt reissued a “buy” rating on shares of Premier Oil in a research report on Friday, September 21st. UBS Group reissued a “buy” rating and issued a GBX 170 ($2.22) price objective on shares of Premier Oil in a research report on Tuesday, September 18th. Berenberg Bank started coverage on shares of Premier Oil in a research report on Thursday, November 1st. They issued a “hold” rating and a GBX 140 ($1.83) price objective for the company. Finally, Barclays lowered their price objective on shares of Premier Oil from GBX 170 ($2.22) to GBX 165 ($2.16) and set an “overweight” rating for the company in a research report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of GBX 149.44 ($1.95).
In other news, insider Richard Rose acquired 20,000 shares of Premier Oil stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average price of GBX 84 ($1.10) per share, for a total transaction of £16,800 ($21,952.18).
TRADEMARK VIOLATION WARNING: “Premier Oil (PMO) Trading Down 11.5%” was first posted by Watch List News and is the property of of Watch List News. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.watchlistnews.com/premier-oil-pmo-trading-down-11-5/2669322.html.
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.
Featured Article: Cost of Equity
Receive News & Ratings for Premier Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier Oil and related companies with MarketBeat.com's FREE daily email newsletter.