Jefferies Financial Group cut shares of Faroe Petroleum (LON:FPM) to a hold rating in a research note published on Tuesday morning. Jefferies Financial Group currently has GBX 160 ($2.09) target price on the oil and gas exploration company’s stock, down from their prior target price of GBX 170 ($2.22).
A number of other equities analysts have also recently issued reports on FPM. Peel Hunt restated a buy rating on shares of Faroe Petroleum in a research report on Tuesday, September 18th. Barclays upped their target price on shares of Faroe Petroleum from GBX 145 ($1.89) to GBX 160 ($2.09) and gave the company an underweight rating in a research report on Tuesday, October 2nd. Finally, Canaccord Genuity reaffirmed a buy rating and set a GBX 190 ($2.48) price target on shares of Faroe Petroleum in a report on Tuesday, November 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of GBX 163.86 ($2.14).
Shares of FPM stock opened at GBX 160 ($2.09) on Tuesday. Faroe Petroleum has a 1 year low of GBX 74.50 ($0.97) and a 1 year high of GBX 116.80 ($1.53).
In other news, insider Brent Cheshire sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of GBX 160 ($2.09), for a total value of £24,000 ($31,360.25).
About Faroe Petroleum
Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, and development of oil and gas fields in Northwest Europe. The company has interests in the Trym, Tambar, Ula, and Ringhorne East fields in Norway; and Blane oil field in the United Kingdom. As of January 1, 2018, it had proven and probable reserves of 114.1 million barrels of oil equivalent.
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