Faroe Petroleum (FPM) Price Target Raised to GBX 125

Faroe Petroleum (LON:FPM) had its target price boosted by Peel Hunt from GBX 115 ($1.56) to GBX 125 ($1.70) in a research note released on Monday morning. The firm currently has a buy rating on the oil and gas exploration company’s stock.

Several other research analysts also recently weighed in on the stock. Barclays restated an overweight rating and set a GBX 110 ($1.49) price target on shares of Faroe Petroleum in a research report on Wednesday, November 22nd. Jefferies Group restated a buy rating and set a GBX 125 ($1.70) price target on shares of Faroe Petroleum in a research report on Wednesday, October 4th. Finally, Macquarie upped their price target on shares of Faroe Petroleum from GBX 114 ($1.55) to GBX 120 ($1.63) and gave the stock an outperform rating in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Faroe Petroleum currently has a consensus rating of Buy and an average price target of GBX 119 ($1.61).

Faroe Petroleum (FPM) opened at GBX 110.50 ($1.50) on Monday. Faroe Petroleum has a 1 year low of GBX 74.50 ($1.01) and a 1 year high of GBX 115 ($1.56). The firm has a market cap of $405.14 and a PE ratio of -1,841.67.

In other Faroe Petroleum news, insider Graham Stewart acquired 367 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was bought at an average price of GBX 102 ($1.38) per share, for a total transaction of £374.34 ($507.65).

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Faroe Petroleum Company Profile

Faroe Petroleum plc is an oil and gas company. The Company is focused on exploration, appraisal and production opportunities in Norway and the United Kingdom. Its portfolio consists of approximately 60 exploration, appraisal, development and production licenses in the West of Shetland, the North Sea, Norwegian Sea, Barents Sea and the Celtic Sea.

Analyst Recommendations for Faroe Petroleum (LON:FPM)

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