Faroe Petroleum (LON:FPM) had its price target raised by Peel Hunt from GBX 115 ($1.56) to GBX 125 ($1.70) in a research report released on Monday morning. They currently have a buy rating on the oil and gas exploration company’s stock.

A number of other brokerages have also recently issued reports on FPM. Jefferies Group restated a buy rating and set a GBX 125 ($1.70) price objective on shares of Faroe Petroleum in a report on Tuesday, November 21st. Barclays restated an overweight rating and set a GBX 110 ($1.49) price objective on shares of Faroe Petroleum in a report on Wednesday, November 22nd. Finally, Macquarie boosted their price objective on Faroe Petroleum from GBX 114 ($1.55) to GBX 120 ($1.63) and gave the stock an outperform rating in a report on Tuesday, September 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Faroe Petroleum presently has an average rating of Buy and a consensus price target of GBX 119 ($1.61).

Shares of Faroe Petroleum (LON FPM) opened at GBX 114.80 ($1.56) on Monday. Faroe Petroleum has a 1-year low of GBX 74.50 ($1.01) and a 1-year high of GBX 115 ($1.56). The stock has a market capitalization of $409.25 and a P/E ratio of -1,913.33.

In related news, insider Graham Stewart purchased 367 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was acquired at an average cost of GBX 102 ($1.38) per share, for a total transaction of £374.34 ($507.65).

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Faroe Petroleum 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.

Analyst Recommendations for Faroe Petroleum (LON:FPM)

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