Faroe Petroleum plc (LON:FPM) Earns “Buy” Rating from Jefferies Group LLC
Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a report released on Thursday. They currently have a GBX 125 ($1.63) price target on the oil and gas exploration company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 40.06% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Peel Hunt restated a “buy” rating and set a GBX 115 ($1.50) target price on shares of Faroe Petroleum plc in a report on Wednesday, June 21st. Macquarie restated an “outperform” rating and set a GBX 114 ($1.48) target price on shares of Faroe Petroleum plc in a report on Thursday, July 27th. Finally, Barclays PLC upgraded shares of Faroe Petroleum plc to an “overweight” rating and raised their target price for the company from GBX 110 ($1.43) to GBX 115 ($1.50) in a report on Monday, July 31st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 114 ($1.48).
Shares of Faroe Petroleum plc (LON FPM) opened at 89.25 on Thursday. The firm’s market capitalization is GBX 325.34 million. Faroe Petroleum plc has a 52 week low of GBX 60.50 and a 52 week high of GBX 115.00. The firm has a 50-day moving average of GBX 83.22 and a 200 day moving average of GBX 94.23.
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In other news, insider Graham Stewart purchased 456 shares of the stock in a transaction dated Wednesday, June 28th. The stock was acquired at an average cost of GBX 82 ($1.07) per share, for a total transaction of £373.92 ($486.94).
Faroe Petroleum plc Company Profile
Faroe Petroleum plc is an oil and gas company. The Company is focused on exploration, appraisal and production opportunities in Norway and the United Kingdom. Its portfolio consists of approximately 60 exploration, appraisal, development and production licenses in the West of Shetland, the North Sea, Norwegian Sea, Barents Sea and the Celtic Sea.
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