Faroe Petroleum (LON:FPM) had its price target decreased by Peel Hunt from GBX 180 ($2.35) to GBX 175 ($2.29) in a research note issued to investors on Tuesday morning. Peel Hunt currently has a buy rating on the oil and gas exploration company’s stock.
A number of other equities research analysts have also recently issued reports on the company. Barclays upped their target price on Faroe Petroleum from GBX 145 ($1.89) to GBX 160 ($2.09) and gave the stock an underweight rating in a research report on Tuesday, October 2nd. Jefferies Financial Group reaffirmed a buy rating and set a GBX 190 ($2.48) target price on shares of Faroe Petroleum in a research report on Monday, October 22nd. Finally, Canaccord Genuity reaffirmed a buy rating and set a GBX 190 ($2.48) target price on shares of Faroe Petroleum in a research report on Tuesday, November 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Faroe Petroleum currently has an average rating of Buy and an average price target of GBX 168.14 ($2.20).
FPM stock opened at GBX 160.20 ($2.09) on Tuesday. Faroe Petroleum has a one year low of GBX 74.50 ($0.97) and a one year high of GBX 116.80 ($1.53).
Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, and development of oil and gas fields in Northwest Europe. The company has interests in the Trym, Tambar, Ula, and Ringhorne East fields in Norway; and Blane oil field in the United Kingdom. As of January 1, 2018, it had proven and probable reserves of 114.1 million barrels of oil equivalent.
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