Peel Hunt Reiterates “Buy” Rating for Premier Oil (PMO)

Premier Oil (LON:PMO)‘s stock had its “buy” rating reaffirmed by stock analysts at Peel Hunt in a report issued on Wednesday, September 5th. They presently have a GBX 140 ($1.82) price objective on the oil producer’s stock. Peel Hunt’s target price would indicate a potential upside of 14.70% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. UBS Group reiterated a “buy” rating and set a GBX 170 ($2.21) price objective on shares of Premier Oil in a research report on Friday, August 24th. Barclays decreased their target price on shares of Premier Oil from GBX 170 ($2.21) to GBX 165 ($2.15) and set an “overweight” rating for the company in a research note on Thursday, August 16th. Investec decreased their target price on shares of Premier Oil from GBX 135 ($1.76) to GBX 130 ($1.69) and set a “hold” rating for the company in a research note on Friday, July 20th. Finally, Royal Bank of Canada raised shares of Premier Oil to a “top pick” rating and lifted their target price for the company from GBX 120 ($1.56) to GBX 180 ($2.34) in a research note on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of GBX 128.33 ($1.67).

LON PMO opened at GBX 122.06 ($1.59) on Wednesday. Premier Oil has a 12 month low of GBX 42.75 ($0.56) and a 12 month high of GBX 104.56 ($1.36).

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.

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Analyst Recommendations for Premier Oil (LON:PMO)

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