Premier Oil PLC (PMO) Upgraded by Jefferies Group LLC to Buy

Jefferies Group LLC upgraded shares of Premier Oil PLC (LON:PMO) to a buy rating in a research note released on Tuesday, August 29th. They currently have GBX 90 ($1.16) price target on the oil producer’s stock, up from their previous price target of GBX 68 ($0.88).

Several other brokerages have also commented on PMO. GMP Securities reaffirmed a speculative buy rating on shares of Premier Oil PLC in a research note on Friday, June 16th. Peel Hunt reaffirmed a buy rating and issued a GBX 90 ($1.16) price target on shares of Premier Oil PLC in a research note on Wednesday, July 12th. Barclays PLC reaffirmed an equal weight rating and issued a GBX 72 ($0.93) price target on shares of Premier Oil PLC in a research note on Friday, July 21st. Deutsche Bank AG decreased their price target on Premier Oil PLC from GBX 75 ($0.97) to GBX 56 ($0.72) and set a hold rating on the stock in a research note on Thursday, July 6th. Finally, Macquarie decreased their price target on Premier Oil PLC from GBX 41 ($0.53) to GBX 40 ($0.52) and set an underperform rating on the stock in a research note on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Premier Oil PLC currently has an average rating of Hold and a consensus target price of GBX 74.11 ($0.96).

Shares of Premier Oil PLC (LON:PMO) traded down 1.18% on Tuesday, reaching GBX 62.75. 2,831,257 shares of the company were exchanged. Premier Oil PLC has a 1-year low of GBX 42.75 and a 1-year high of GBX 99.50. The company has a 50-day moving average price of GBX 56.89 and a 200 day moving average price of GBX 58.28. The stock’s market capitalization is GBX 320.53 million.

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In other news, insider Richard Rose bought 25,000 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was bought at an average price of GBX 45 ($0.58) per share, for a total transaction of £11,250 ($14,529.25). Also, insider Tony Durrant bought 226,868 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were purchased at an average price of GBX 44 ($0.57) per share, with a total value of £99,821.92 ($128,918.92). In the last 90 days, insiders have bought 252,542 shares of company stock valued at $11,144,623.

About Premier Oil PLC

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.

Analyst Recommendations for Premier Oil PLC (LON:PMO)

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