Premier Oil (LON:PMO)‘s stock had its “buy” rating restated by analysts at Peel Hunt in a research report issued to clients and investors on Thursday. They currently have a GBX 115 ($1.56) target price on the oil producer’s stock. Peel Hunt’s target price points to a potential upside of 21.37% from the company’s previous close.
A number of other research firms also recently weighed in on PMO. Barclays downgraded shares of Premier Oil to an “underweight” rating and cut their price target for the company from GBX 72 ($0.98) to GBX 70 ($0.95) in a report on Tuesday, November 21st. 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. Credit Suisse Group reiterated an “underperform” rating and issued a GBX 60 ($0.81) target price on shares of Premier Oil in a research note on Friday, November 3rd. Jefferies Group reiterated a “buy” rating and issued a GBX 90 ($1.22) target price on shares of Premier Oil in a research note on Tuesday, October 31st. Finally, Royal Bank of Canada lowered shares of Premier Oil to a “sector performer” rating and set a GBX 100 ($1.36) target price on the stock. in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 86 ($1.17).
Premier Oil (PMO) opened at GBX 94.75 ($1.28) on Thursday. Premier Oil has a twelve month low of GBX 42.75 ($0.58) and a twelve month high of GBX 104.56 ($1.42).
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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