Canaccord Genuity Reaffirms “Hold” Rating for Premier Oil PLC (PMO)

Canaccord Genuity reissued their hold rating on shares of Premier Oil PLC (LON:PMO) in a report issued on Tuesday, May 16th. They currently have a GBX 65 ($0.82) price objective on the oil producer’s stock.

Other research analysts have also recently issued reports about the company. Peel Hunt reaffirmed a buy rating and set a GBX 90 ($1.14) price objective on shares of Premier Oil PLC in a research report on Wednesday, April 5th. Citigroup Inc. reaffirmed a buy rating and set a GBX 124 ($1.57) price objective on shares of Premier Oil PLC in a research report on Wednesday, January 25th. Jefferies Group LLC decreased their target price on Premier Oil PLC from GBX 106 ($1.34) to GBX 90 ($1.14) and set a buy rating for the company in a research report on Monday, March 13th. Deutsche Bank AG reissued a buy rating and issued a GBX 90 ($1.14) target price on shares of Premier Oil PLC in a research report on Monday, February 6th. Finally, Barclays PLC reissued an equal weight rating on shares of Premier Oil PLC in a research report on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Premier Oil PLC presently has an average rating of Hold and a consensus target price of GBX 86.09 ($1.09).

Premier Oil PLC (LON PMO) traded up 0.50% during mid-day trading on Tuesday, reaching GBX 50.00. 5,869,945 shares of the company traded hands. The firm’s market capitalization is GBX 255.00 million. Premier Oil PLC has a 12-month low of GBX 47.50 and a 12-month high of GBX 99.50. The company’s 50 day moving average price is GBX 57.75 and its 200 day moving average price is GBX 68.79.

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In other news, insider Robin Allan sold 27,677 shares of Premier Oil PLC stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of GBX 66 ($0.83), for a total transaction of £18,266.82 ($23,107.93). Also, insider Iain Macdonald bought 23,076 shares of the company’s stock in a transaction dated Thursday, April 13th. The shares were acquired at an average cost of GBX 65 ($0.82) per share, for a total transaction of £14,999.40 ($18,974.57). Insiders acquired 23,773 shares of company stock worth $1,542,529 over the last three months.

Premier Oil PLC 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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