Premier Oil PLC (PMO) Rating Lowered to Hold at Jefferies Group LLC

Premier Oil PLC (LON:PMO) was downgraded by stock analysts at Jefferies Group LLC to a “hold” rating in a research report issued on Wednesday, May 17th. They currently have a GBX 68 ($0.86) price objective on the oil producer’s stock, down from their prior price objective of GBX 90 ($1.14). Jefferies Group LLC’s target price would suggest a potential upside of 36.00% from the company’s current price.

PMO has been the topic of several other reports. Deutsche Bank AG reiterated a “buy” rating and set a GBX 90 ($1.14) price objective on shares of Premier Oil PLC in a research report on Monday, February 6th. Barclays PLC restated an “equal weight” rating on shares of Premier Oil PLC in a report on Tuesday, February 28th. Citigroup Inc. restated a “buy” rating and set a GBX 124 ($1.57) price target on shares of Premier Oil PLC in a report on Wednesday, January 25th. GMP Securities restated a “speculative buy” rating on shares of Premier Oil PLC in a report on Thursday, March 23rd. Finally, Macquarie cut shares of Premier Oil PLC to an “underperform” rating and lowered their price target for the company from GBX 80 ($1.01) to GBX 69 ($0.87) in a report on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of GBX 86.09 ($1.09).

Analyst Recommendations for Premier Oil PLC (LON:PMO)

Shares of Premier Oil PLC (PMO) opened at 50.00 on Wednesday. Premier Oil PLC has a 12-month low of GBX 47.50 and a 12-month high of GBX 99.50. The stock’s 50 day moving average price is GBX 57.75 and its 200 day moving average price is GBX 68.79. The firm’s market cap is GBX 255.00 million.

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In other news, insider Iain Macdonald bought 23,076 shares of the business’s stock in a transaction on Thursday, April 13th. The stock was purchased at an average price of GBX 65 ($0.82) per share, with a total value of £14,999.40 ($18,974.57). Also, insider Robin Allan sold 27,677 shares of the business’s stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of GBX 66 ($0.83), for a total transaction of £18,266.82 ($23,107.93). In the last three months, insiders have acquired 23,773 shares of company stock valued at $1,542,529.

Premier Oil PLC Company Profile

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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