Premier Oil (PMOIY) Downgraded to Underperform at Macquarie
Macquarie cut shares of Premier Oil (OTCMKTS:PMOIY) from a neutral rating to an underperform rating in a research note published on Wednesday morning, MarketBeat Ratings reports.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Premier Oil from a hold rating to a buy rating and set a $1.25 price objective on the stock in a research report on Tuesday, December 26th. Royal Bank of Canada cut Premier Oil from an outperform rating to a sector perform rating in a research report on Tuesday. Finally, ValuEngine cut Premier Oil from a hold rating to a sell rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Premier Oil presently has a consensus rating of Hold and a consensus price target of $1.50.
Premier Oil (PMOIY) traded down $0.20 during mid-day trading on Wednesday, hitting $1.22. The stock had a trading volume of 2,232 shares, compared to its average volume of 2,475. Premier Oil has a 12-month low of $0.56 and a 12-month high of $1.52. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.79 and a current ratio of 0.81.
Premier Oil plc is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan, the Falkland Islands and Latin America. The Company is engaged in the business of upstream oil and gas exploration and production. The Company’s operations are located and managed in six business units: the Falkland Islands, Indonesia, Pakistan (including Mauritania), the United Kingdom, Vietnam and the Rest of the World.
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