Premier Oil (PMO) Given Overweight Rating at Barclays

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Barclays restated their overweight rating on shares of Premier Oil (LON:PMO) in a research report sent to investors on Monday. The firm currently has a GBX 105 ($1.37) price target on the oil producer’s stock.

A number of other analysts have also weighed in on PMO. Peel Hunt restated a buy rating on shares of Premier Oil in a report on Thursday, February 7th. Berenberg Bank lowered their target price on Premier Oil from GBX 140 ($1.83) to GBX 90 ($1.18) and set a hold rating for the company in a report on Wednesday, January 9th. Royal Bank of Canada lowered their target price on Premier Oil from GBX 200 ($2.61) to GBX 140 ($1.83) and set a top pick rating for the company in a report on Tuesday, January 15th. UBS Group reaffirmed a buy rating on shares of Premier Oil in a research report on Friday, November 2nd. Finally, Jefferies Financial Group reaffirmed a buy rating and set a GBX 225 ($2.94) price target on shares of Premier Oil in a research report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of GBX 132.50 ($1.73).

Premier Oil stock opened at GBX 75.60 ($0.99) on Monday. Premier Oil has a twelve month low of GBX 42.75 ($0.56) and a twelve month high of GBX 104.56 ($1.37).

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

Premier Oil Company Profile

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.

Further Reading: Straddles

Analyst Recommendations for Premier Oil (LON:PMO)

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