Peel Hunt Trims Premier Oil PLC (LON:PMO) Target Price to GBX 80

Premier Oil PLC (LON:PMO) had its price objective reduced by Peel Hunt from GBX 90 ($1.18) to GBX 80 ($1.04) in a report issued on Thursday morning. They currently have a buy rating on the oil producer’s stock.

A number of other equities analysts also recently weighed in on the stock. Deutsche Bank AG raised their target price on shares of Premier Oil PLC from GBX 74 ($0.97) to GBX 75 ($0.98) and gave the company a hold rating in a research note on Tuesday, April 18th. Jefferies Group LLC cut shares of Premier Oil PLC to a hold rating and cut their price target for the company from GBX 90 ($1.18) to GBX 68 ($0.89) in a report on Wednesday, May 17th. GMP Securities reiterated a speculative buy rating on shares of Premier Oil PLC in a report on Friday, June 16th. Canaccord Genuity reiterated a hold rating and set a GBX 65 ($0.85) price target on shares of Premier Oil PLC in a report on Tuesday, May 16th. Finally, Credit Suisse Group increased their price target on shares of 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. Two 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. The company presently has a consensus rating of Hold and an average target price of GBX 84.90 ($1.11).

Premier Oil PLC (PMO) opened at 57.75 on Thursday. The firm’s market cap is GBX 294.53 million. Premier Oil PLC has a 1-year low of GBX 42.75 and a 1-year high of GBX 99.50. The firm’s 50-day moving average price is GBX 52.41 and its 200-day moving average price is GBX 66.12.

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In related news, insider Tony Durrant bought 226,868 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were bought at an average price of GBX 44 ($0.57) per share, for a total transaction of £99,821.92 ($130,349.86). Also, insider Richard Rose bought 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was bought at an average price of GBX 45 ($0.59) per share, for a total transaction of £11,250 ($14,690.52). Insiders purchased 252,564 shares of company stock worth $11,147,100 in 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.

Analyst Recommendations for Premier Oil PLC (LON:PMO)

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