Zacks Investment Research upgraded shares of Premier Oil (OTCMKTS:PMOIY) from a sell rating to a hold rating in a research report sent to investors on Saturday, Zacks.com reports.

According to Zacks, “Premier Oil PLC is engaged in oil and gas exploration, development and production. The Company’s operations are located in the North Sea, Asia, Pakistan, Mauritania and the Falkland Islands, while simultaneously developing assets in Mexico and Brazil. The Company is focused on developing high quality assets in parts of the world where they have a strategic or operational advantage. Premier’s strategy is to grow shareholder value by investing in high quality production and development opportunities while maintaining exposure to upside value from successful exploration within a strict capital discipline framework. “

Other analysts have also issued research reports about the stock. ValuEngine raised shares of Premier Oil from a strong sell rating to a sell rating in a research report on Thursday, September 5th. Barclays lowered Premier Oil from an overweight rating to an equal weight rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus cut Premier Oil from a buy rating to a hold rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $1.25.

Premier Oil stock opened at $0.94 on Friday. The firm has a 50 day simple moving average of $0.86 and a 200-day simple moving average of $1.03. Premier Oil has a 1-year low of $0.69 and a 1-year high of $1.95. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.46 and a quick ratio of 1.43. The stock has a market cap of $721.91 million, a price-to-earnings ratio of 7.83 and a beta of 1.86.

Premier Oil Company Profile

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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