Premier Oil PLC (PMO) Receives Average Recommendation of “Buy” from Analysts

Premier Oil PLC (LON:PMO) has been given an average recommendation of “Buy” by the nine research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is GBX 126.88 ($1.65).

A number of research analysts have recently commented on PMO shares. Barclays reduced their price target on shares of Premier Oil from GBX 170 ($2.21) to GBX 165 ($2.15) and set an “overweight” rating for the company in a research report on Thursday, August 16th. UBS Group restated a “buy” rating and set a GBX 170 ($2.21) price objective on shares of Premier Oil in a research report on Friday, August 24th. Investec cut their price objective on shares of Premier Oil from GBX 135 ($1.76) to GBX 130 ($1.69) and set a “hold” rating for the company in a research report on Friday, July 20th. Peel Hunt restated a “buy” rating on shares of Premier Oil in a research report on Wednesday, August 1st. Finally, Royal Bank of Canada raised shares of Premier Oil to a “top pick” rating and increased their target price for the stock from GBX 120 ($1.56) to GBX 180 ($2.34) in a research note on Monday, July 9th.

PMO stock traded up GBX 3.80 ($0.05) during midday trading on Wednesday, reaching GBX 128.50 ($1.67). 8,087,012 shares of the company’s stock traded hands, compared to its average volume of 8,200,000. Premier Oil has a 52 week low of GBX 42.75 ($0.56) and a 52 week high of GBX 104.56 ($1.36).

About Premier Oil

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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Analyst Recommendations for Premier Oil (LON:PMO)

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