Faroe Petroleum plc’s (FPM) “Buy” Rating Reaffirmed at Jefferies Group LLC
Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reiterated by Jefferies Group LLC in a report released on Tuesday. They presently have a GBX 125 ($1.64) price objective on the oil and gas exploration company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 21.65% from the stock’s previous close.
Several other research firms also recently commented on FPM. Peel Hunt reissued a “buy” rating and issued a GBX 115 ($1.51) price objective on shares of Faroe Petroleum plc in a research note on Friday, November 10th. Barclays PLC reissued an “overweight” rating and issued a GBX 110 ($1.45) price objective on shares of Faroe Petroleum plc in a research note on Wednesday. Finally, Macquarie increased their price objective on Faroe Petroleum plc from GBX 114 ($1.50) to GBX 120 ($1.58) and gave the company an “outperform” rating in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Faroe Petroleum plc has a consensus rating of “Buy” and a consensus price target of GBX 117 ($1.54).
Shares of Faroe Petroleum plc (LON FPM) traded up GBX 2.75 ($0.04) during mid-day trading on Tuesday, hitting GBX 102.75 ($1.35). The stock had a trading volume of 99,161 shares, compared to its average volume of 540,733. Faroe Petroleum plc has a twelve month low of GBX 70.50 ($0.93) and a twelve month high of GBX 115 ($1.51).
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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 ($1.29) per share, with a total value of £381.22 ($501.41).
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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