Premier Oil (PMO) Price Target Raised to GBX 135 at Canaccord Genuity

Premier Oil (LON:PMO) had its target price raised by Canaccord Genuity from GBX 130 ($1.70) to GBX 135 ($1.76) in a research report released on Monday, February 25th. They currently have a buy rating on the oil producer’s stock.

A number of other equities analysts have also commented on the stock. Barclays reiterated an overweight rating and issued a GBX 105 ($1.37) price objective on shares of Premier Oil in a report on Monday, February 11th. Peel Hunt restated a buy rating on shares of Premier Oil in a research note on Thursday, February 7th. Royal Bank of Canada cut their target price on shares of Premier Oil from GBX 200 ($2.61) to GBX 140 ($1.83) and set a top pick rating on the stock in a research note on Tuesday, January 15th. Finally, Berenberg Bank dropped their price objective on shares of Premier Oil from GBX 140 ($1.83) to GBX 90 ($1.18) and set a hold rating on the stock in a research note on Wednesday, January 9th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Premier Oil currently has an average rating of Buy and a consensus target price of GBX 137.50 ($1.80).

PMO stock traded down GBX 6.40 ($0.08) during trading on Monday, reaching GBX 88 ($1.15). The stock had a trading volume of 9,053,215 shares, compared to its average volume of 8,200,000. Premier Oil has a 1-year low of GBX 54.70 ($0.71) and a 1-year high of GBX 146.90 ($1.92). The company has a debt-to-equity ratio of 248.73, a current ratio of 1.46 and a quick ratio of 1.06. The firm has a market capitalization of $718.33 million and a P/E ratio of 5.68.

About Premier Oil

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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