Premier Oil (PMOIY) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Premier Oil (OTCMKTS:PMOIY) from a hold rating to a buy rating in a research note released on Thursday morning. The firm currently has $1.25 price target on the energy producer’s stock.

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, Middle East-Pakistan, and West Africa. It is independent and pursuing its strategy of low-risk development of existing discovered reserves whilst maintaining shareholder leverage to material exploration upside. The company is pre-funded for its committed development programme and planned exploration programme. The Company is focused on four core Businesses in the North Sea, Africa, Middle East/Pakistan, and Asia. Premier is seeking to grow through organic production growth, high impact exploration, and acquisitions in the areas they know well. “

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A number of other brokerages have also issued reports on PMOIY. Royal Bank of Canada lowered shares of Premier Oil from an outperform rating to a sector perform rating in a research note on Tuesday, January 16th. Stifel Nicolaus reiterated a hold rating on shares of Premier Oil in a research note on Thursday, January 18th. ValuEngine lowered shares of Premier Oil from a hold rating to a sell rating in a research note on Tuesday, January 16th. Finally, Macquarie lowered shares of Premier Oil from a neutral rating to an underperform rating in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Premier Oil has an average rating of Hold and a consensus target price of $1.25.

Shares of Premier Oil (OTCMKTS PMOIY) opened at $0.93 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 3.11. Premier Oil has a one year low of $0.56 and a one year high of $1.52.

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Premier Oil 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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