Premier Oil (PMO) Earns Buy Rating from Peel Hunt
Peel Hunt reissued their buy rating on shares of Premier Oil (LON:PMO) in a research report sent to investors on Wednesday morning. The brokerage currently has a GBX 140 ($1.81) price objective on the oil producer’s stock.
A number of other research firms also recently weighed in on PMO. Royal Bank of Canada raised shares of Premier Oil to a top pick rating and increased their target price for the company from GBX 120 ($1.55) to GBX 180 ($2.32) in a research report on Monday, July 9th. UBS Group reissued a buy rating and set a GBX 170 ($2.19) target price on shares of Premier Oil in a research report on Friday, August 24th. Investec decreased their target price on shares of Premier Oil from GBX 135 ($1.74) to GBX 130 ($1.68) and set a hold rating for the company in a research report on Friday, July 20th. Finally, Barclays decreased their target price on shares of Premier Oil from GBX 145 ($1.87) to GBX 135 ($1.74) and set an overweight rating for the company in a research report on Friday, June 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Premier Oil currently has a consensus rating of Buy and an average price target of GBX 128.33 ($1.66).
LON:PMO opened at GBX 114.30 ($1.47) on Wednesday. Premier Oil has a fifty-two week low of GBX 42.75 ($0.55) and a fifty-two week high of GBX 104.56 ($1.35).
Premier Oil plc, an oil and gas company, engages in the exploration, production, and development of oil and gas properties primarily in the Falkland Islands, Indonesia, Pakistan, the United Kingdom, Vietnam, and internationally. As of December 31, 2017, it had proven and probable reserves (2P) of 302 million barrels of oil equivalent (mmboe); and 2P reserves and 2C resources of 902 mmboe.
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