Credit Suisse Group reissued their underperform rating on shares of Premier Oil (LON:PMO) in a report released on Monday, January 8th. They currently have a GBX 60 ($0.81) price objective on the oil producer’s stock.
A number of other research analysts have also recently commented on PMO. Deutsche Bank upped their target price on Premier Oil from GBX 65 ($0.88) to GBX 67 ($0.91) and gave the company a hold rating in a research note on Friday, October 13th. Jefferies Group reaffirmed a buy rating and set a GBX 90 ($1.22) target price on shares of Premier Oil in a research note on Wednesday, October 4th. Peel Hunt reaffirmed a buy rating and set a GBX 100 ($1.36) target price on shares of Premier Oil in a research note on Thursday, November 16th. Finally, Barclays lowered Premier Oil to an underweight rating and lowered their price target for the company 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 given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of GBX 92.11 ($1.25).
Shares of Premier Oil (LON:PMO) traded down GBX 1 ($0.01) during trading on Monday, hitting GBX 94 ($1.27). The stock had a trading volume of 7,320,000 shares, compared to its average volume of 8,680,000. Premier Oil has a fifty-two week low of GBX 42.75 ($0.58) and a fifty-two week high of GBX 104.56 ($1.42).
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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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