Premier Oil (LON:PMO) had its price objective decreased by investment analysts at Canaccord Genuity from GBX 130 ($1.76) to GBX 120 ($1.63) in a research report issued on Friday. The firm presently has a “buy” rating on the oil producer’s stock. Canaccord Genuity’s price target would suggest a potential upside of 32.23% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Jefferies Group boosted their price target on Premier Oil from GBX 90 ($1.22) to GBX 110 ($1.49) and gave the stock a “buy” rating in a report on Wednesday, December 20th. Credit Suisse Group reissued an “underperform” rating and issued a GBX 60 ($0.81) price target on shares of Premier Oil in a report on Thursday, December 7th. Peel Hunt reissued a “buy” rating and issued a GBX 100 ($1.36) price target on shares of Premier Oil in a report on Thursday, November 16th. Deutsche Bank reissued a “hold” rating and issued a GBX 67 ($0.91) price target on shares of Premier Oil in a report on Tuesday, November 7th. Finally, Barclays cut Premier Oil to an “underweight” rating and cut their price target for the stock from GBX 72 ($0.98) to GBX 70 ($0.95) in a report on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of GBX 92.11 ($1.25).
Premier Oil (LON:PMO) opened at GBX 90.75 ($1.23) on Friday. Premier Oil has a 1-year low of GBX 42.75 ($0.58) and a 1-year high of GBX 104.56 ($1.42).
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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