Premier Oil (PMO) Reaches New 52-Week High at $99.05

Premier Oil PLC (LON:PMO) reached a new 52-week high on Wednesday . The company traded as high as GBX 99.05 ($1.34) and last traded at GBX 98.50 ($1.34), with a volume of 25140000 shares changing hands. The stock had previously closed at GBX 91 ($1.23).

A number of equities research analysts have recently weighed in on PMO shares. Jefferies Group raised their price target on shares of Premier Oil from GBX 90 ($1.22) to GBX 110 ($1.49) and gave the company a “buy” rating in a research note on Wednesday, December 20th. Peel Hunt restated a “buy” rating and issued a GBX 100 ($1.36) price target on shares of Premier Oil in a research note on Thursday, November 16th. Finally, Deutsche Bank lifted their target price on shares of Premier Oil from GBX 65 ($0.88) to GBX 67 ($0.91) and gave the stock a “hold” rating in a research report on Friday, October 13th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Premier Oil currently has an average rating of “Hold” and a consensus target price of GBX 83.22 ($1.13).

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About Premier Oil

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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