Premier Oil PLC (LON:PMO) has been assigned an average rating of “Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is GBX 131.67 ($1.72).
PMO has been the topic of several research analyst reports. Berenberg Bank raised Premier Oil to a “buy” rating and lifted their target price for the company from GBX 90 ($1.18) to GBX 110 ($1.44) in a research note on Wednesday, February 27th. Canaccord Genuity lifted their target price on Premier Oil from GBX 130 ($1.70) to GBX 135 ($1.76) and gave the company a “buy” rating in a research note on Monday, February 25th. Peel Hunt reaffirmed a “buy” rating on shares of Premier Oil in a research note on Thursday, February 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 160 ($2.09) target price on shares of Premier Oil in a research note on Thursday, March 7th. Finally, UBS Group reissued a “buy” rating on shares of Premier Oil in a research note on Wednesday.
LON:PMO traded up GBX 4.13 ($0.05) on Wednesday, hitting GBX 94.13 ($1.23). 11,435,425 shares of the company’s stock traded hands, compared to its average volume of 8,200,000. The company has a debt-to-equity ratio of 248.73, a current ratio of 1.46 and a quick ratio of 1.06. Premier Oil has a 1 year low of GBX 54.70 ($0.71) and a 1 year high of GBX 146.90 ($1.92). The stock has a market cap of $734.65 million and a PE ratio of 6.07.
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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