Premier Oil PLC (PMO) Receives “Buy” Rating from Peel Hunt

Peel Hunt reissued their buy rating on shares of Premier Oil PLC (LON:PMO) in a research note published on Tuesday. They currently have a GBX 80 ($1.03) target price on the oil producer’s stock.

Several other equities analysts have also commented on PMO. Jefferies Group LLC reaffirmed a hold rating and issued a GBX 68 ($0.88) price objective on shares of Premier Oil PLC in a research report on Wednesday, August 23rd. Royal Bank Of Canada raised their price target on shares of Premier Oil PLC from GBX 75 ($0.97) to GBX 80 ($1.03) and gave the stock an outperform rating in a research report on Tuesday, August 22nd. Barclays PLC raised their price target on shares of Premier Oil PLC from GBX 57 ($0.74) to GBX 72 ($0.93) and gave the stock an equal weight rating in a research report on Friday, July 14th. Deutsche Bank AG reissued a hold rating and set a GBX 56 ($0.72) price target on shares of Premier Oil PLC in a research report on Thursday, July 13th. Finally, Macquarie reduced their price target on shares of Premier Oil PLC from GBX 41 ($0.53) to GBX 40 ($0.52) and set an underperform rating for the company in a research report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Premier Oil PLC presently has an average rating of Hold and a consensus price target of GBX 74.11 ($0.96).

Premier Oil PLC (LON:PMO) opened at 62.75 on Tuesday. Premier Oil PLC has a 12-month low of GBX 42.75 and a 12-month high of GBX 99.50. The stock’s market capitalization is GBX 320.53 million. The stock’s 50 day moving average is GBX 56.89 and its 200 day moving average is GBX 58.28.

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In related news, insider Tony Durrant purchased 226,868 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were purchased at an average price of GBX 44 ($0.57) per share, with a total value of £99,821.92 ($128,918.92). Also, insider Richard Rose purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was bought at an average cost of GBX 45 ($0.58) per share, for a total transaction of £11,250 ($14,529.25). Insiders purchased a total of 252,542 shares of company stock worth $11,144,623 in the last three months.

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.

Analyst Recommendations for Premier Oil PLC (LON:PMO)

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