Deutsche Bank AG Reiterates Hold Rating for Premier Oil PLC (PMO)

Premier Oil PLC (LON:PMO)‘s stock had its “hold” rating reissued by equities researchers at Deutsche Bank AG in a report issued on Thursday, July 13th. They presently have a GBX 56 ($0.73) price objective on the oil producer’s stock. Deutsche Bank AG’s price target suggests a potential upside of 2.28% from the company’s previous close.

A number of other research firms have also recently commented on PMO. Barclays PLC dropped their target price on shares of Premier Oil PLC from GBX 100 ($1.30) to GBX 70 ($0.91) and set an “equal weight” rating for the company in a report on Tuesday, April 11th. GMP Securities reaffirmed a “speculative buy” rating on shares of Premier Oil PLC in a research note on Thursday, March 23rd. Credit Suisse Group upped their price objective on Premier Oil PLC from GBX 40 ($0.52) to GBX 60 ($0.78) and gave the company an “underperform” rating in a research note on Friday, March 24th. Peel Hunt initiated coverage on shares of Premier Oil PLC in a research report on Thursday, March 16th. They set a “buy” rating and a GBX 90 ($1.17) target price for the company. Finally, Jefferies Group LLC downgraded shares of Premier Oil PLC to a “hold” rating and decreased their target price for the company from GBX 90 ($1.17) to GBX 68 ($0.89) in a research report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Premier Oil PLC currently has an average rating of “Hold” and a consensus price target of GBX 84.90 ($1.11).

Shares of Premier Oil PLC (PMO) opened at 54.75 on Thursday. The stock’s market capitalization is GBX 279.23 million. The stock’s 50 day moving average is GBX 54.12 and its 200 day moving average is GBX 63.33. Premier Oil PLC has a 52 week low of GBX 42.75 and a 52 week high of GBX 99.50.

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In other Premier Oil PLC news, insider Richard Rose bought 25,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was purchased at an average cost of GBX 45 ($0.59) per share, with a total value of £11,250 ($14,650.35). Also, insider Tony Durrant bought 226,868 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were acquired at an average cost of GBX 44 ($0.57) per share, with a total value of £99,821.92 ($129,993.38). Over the last ninety days, insiders have bought 252,535 shares of company stock valued at $11,144,663.

Premier Oil PLC Company Profile

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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