Premier Oil PLC (LON:PMO) has been assigned an average rating of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is GBX 135 ($1.76).
A number of equities research analysts have weighed in on PMO shares. Peel Hunt reiterated a “buy” rating on shares of Premier Oil in a report on Friday, September 21st. UBS Group reiterated a “buy” rating and issued a GBX 170 ($2.22) target price on shares of Premier Oil in a report on Tuesday, September 18th. Investec lowered their target price on Premier Oil from GBX 135 ($1.76) to GBX 130 ($1.70) and set a “hold” rating for the company in a report on Friday, July 20th. Barclays lowered their target price on Premier Oil from GBX 170 ($2.22) to GBX 165 ($2.16) and set an “overweight” rating for the company in a report on Thursday, August 16th. Finally, Royal Bank of Canada lifted their target price on Premier Oil from GBX 180 ($2.35) to GBX 230 ($3.01) and gave the stock a “top pick” rating in a report on Monday.
PMO stock traded up GBX 0.20 ($0.00) during mid-day trading on Friday, reaching GBX 120.80 ($1.58). The company’s stock had a trading volume of 3,385,451 shares, compared to its average volume of 8,200,000. Premier Oil has a 12 month low of GBX 42.75 ($0.56) and a 12 month high of GBX 104.56 ($1.37).
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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