Analysts Set Faroe Petroleum plc (LON:FPM) Price Target at $99.27
Shares of Faroe Petroleum plc (LON:FPM) have been given a consensus rating of “Buy” by the thirteen analysts that are currently covering the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is GBX 99.27 ($1.30).
A number of research firms have recently issued reports on FPM. Barclays PLC lifted their price objective on shares of Faroe Petroleum plc from GBX 85 ($1.11) to GBX 100 ($1.31) and gave the stock an “equal weight” rating in a report on Wednesday, July 13th. Numis Securities Ltd reaffirmed an “under review” rating on shares of Faroe Petroleum plc in a report on Monday, July 25th. Macquarie reaffirmed an “outperform” rating and set a GBX 107 ($1.40) price objective (up from GBX 90 ($1.17)) on shares of Faroe Petroleum plc in a report on Thursday, July 21st. Peel Hunt lifted their price objective on shares of Faroe Petroleum plc from GBX 100 ($1.31) to GBX 110 ($1.44) and gave the stock a “buy” rating in a report on Tuesday, July 12th. Finally, Canaccord Genuity raised shares of Faroe Petroleum plc to a “buy” rating and lifted their price objective for the stock from GBX 90 ($1.17) to GBX 100 ($1.31) in a report on Tuesday, July 12th.
In related news, insider Graham Stewart purchased 520 shares of Faroe Petroleum plc stock in a transaction that occurred on Friday, September 30th. The shares were bought at an average price of GBX 72 ($0.94) per share, for a total transaction of £374.40 ($488.71). Also, insider Read,Timothy P purchased 50,000 shares of Faroe Petroleum plc stock in a transaction that occurred on Tuesday, July 19th. The shares were bought at an average price of GBX 70 ($0.91) per share, for a total transaction of £35,000 ($45,685.94).
Shares of Faroe Petroleum plc (LON:FPM) opened at 73.75 on Friday. The company’s market cap is GBX 198.39 million. The firm’s 50-day moving average is GBX 68.42 and its 200-day moving average is GBX 69.50. Faroe Petroleum plc has a 12 month low of GBX 42.50 and a 12 month high of GBX 82.00.
About Faroe Petroleum plc
Faroe Petroleum plc is an independent oil and gas company that is engaged in the exploration, appraisal and production opportunities in Norway and the United Kingdom. The Company has a portfolio of production assets, including Aerosmith-PL644, located approximately 20 kilometers from the Morvin and Smorbukk Fields in the province of the Norwegian Sea; Betula-PL670, located in the vicinity of the Jurassic Ula Field in the Central North Sea; Birnam-P1993, located in the north-east of the Perth Field; Caramello-PL665 S, located on the Sorvestlandet High in the Norwegian Southern North Sea; Firklover-PL676 S, located on the Viking Graben; Hyme Field-PL348, located in the southern part of the Norwegian Sea, and Samson Dome-PL534, covering approximately 900 square kilometers.
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