Faroe Petroleum plc (FPM) Given “Buy” Rating at Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of Faroe Petroleum plc (LON:FPM) in a research report released on Wednesday morning. Jefferies Group LLC currently has a GBX 125 ($1.66) target price on the oil and gas exploration company’s stock.
Other research analysts have also issued research reports about the company. Peel Hunt reiterated a buy rating and set a GBX 115 ($1.53) target price on shares of Faroe Petroleum plc in a research report on Monday. Macquarie increased their target price on Faroe Petroleum plc from GBX 114 ($1.51) to GBX 120 ($1.59) and gave the company an outperform rating in a research report on Tuesday, September 12th. Finally, Barclays PLC decreased their target price on Faroe Petroleum plc from GBX 115 ($1.53) to GBX 110 ($1.46) and set an overweight rating on the stock in a research report on Wednesday, September 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of GBX 117 ($1.55).
Faroe Petroleum plc (LON:FPM) traded up 0.25% during midday trading on Wednesday, hitting GBX 99.25. 373,003 shares of the stock traded hands. Faroe Petroleum plc has a 12 month low of GBX 70.11 and a 12 month high of GBX 115.00. The company’s 50 day moving average price is GBX 92.94 and its 200 day moving average price is GBX 91.02. The firm’s market cap is GBX 361.79 million.
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In other news, insider Helge Hammer acquired 389 shares of Faroe Petroleum plc stock in a transaction that occurred on Wednesday, September 27th. The stock was purchased at an average cost of GBX 98 ($1.30) per share, with a total value of £381.22 ($505.66).
About Faroe Petroleum plc
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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