Premier Oil (PMO) Earns Overweight Rating from Barclays

Barclays reaffirmed their overweight rating on shares of Premier Oil (LON:PMO) in a report released on Monday. They currently have a GBX 105 ($1.37) price target on the oil producer’s stock.

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada boosted their price objective on Premier Oil from GBX 180 ($2.35) to GBX 230 ($3.01) and gave the stock a top pick rating in a research note on Monday, October 15th. Jefferies Financial Group reissued a buy rating and set a GBX 225 ($2.94) price objective on shares of Premier Oil in a research note on Monday, October 22nd. UBS Group reissued a buy rating on shares of Premier Oil in a research note on Friday, November 16th. Peel Hunt reissued a buy rating on shares of Premier Oil in a research note on Thursday, November 15th. Finally, Berenberg Bank initiated coverage on Premier Oil in a research note on Thursday, November 1st. They set a hold rating and a GBX 140 ($1.83) price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of GBX 132.50 ($1.73).

Shares of LON PMO opened at GBX 75.60 ($0.99) on Monday. Premier Oil has a 1-year low of GBX 42.75 ($0.56) and a 1-year high of GBX 104.56 ($1.37).

In other Premier Oil news, insider Richard Rose bought 20,000 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were purchased at an average price of GBX 84 ($1.10) per share, with a total value of £16,800 ($21,952.18).

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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