Faroe Petroleum plc (FPM) Given “Buy” Rating at Jefferies Group
Jefferies Group reissued their buy rating on shares of Faroe Petroleum plc (LON:FPM) in a research note issued to investors on Thursday morning. They currently have a GBX 100 ($1.24) price objective on the oil and gas exploration company’s stock.
Several other brokerages also recently commented on FPM. Peel Hunt restated a buy rating and set a GBX 100 ($1.24) price objective on shares of Faroe Petroleum plc in a research report on Friday, September 30th. Canaccord Genuity restated a buy rating and set a GBX 100 ($1.24) price objective on shares of Faroe Petroleum plc in a research report on Thursday, September 22nd. Royal Bank Of Canada decreased their price objective on shares of Faroe Petroleum plc from GBX 120 ($1.49) to GBX 100 ($1.24) and set an outperform rating on the stock in a research report on Thursday, August 11th. Numis Securities Ltd restated an under review rating on shares of Faroe Petroleum plc in a research report on Monday, July 25th. Finally, Macquarie restated an outperform rating and set a GBX 107 ($1.32) price objective (up from GBX 90 ($1.11)) on shares of Faroe Petroleum plc in a research report on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of GBX 99.09 ($1.23).
Shares of Faroe Petroleum plc (LON:FPM) opened at 74.00 on Thursday. The company’s market cap is GBX 199.06 million. The firm’s 50-day moving average is GBX 68.39 and its 200-day moving average is GBX 69.73. Faroe Petroleum plc has a one year low of GBX 42.50 and a one year high of GBX 82.00.
In other Faroe Petroleum plc news, insider Graham Stewart acquired 520 shares of the company’s stock in a transaction on Friday, September 30th. The stock was acquired at an average cost of GBX 72 ($0.89) per share, with a total value of £374.40 ($463.37). Also, insider Read,Timothy P acquired 50,000 shares of the company’s stock in a transaction on Tuesday, July 19th. The stock was acquired at an average cost of GBX 70 ($0.87) per share, with a total value of £35,000 ($43,316.83).
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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