Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reaffirmed by Peel Hunt in a research note issued on Friday. They currently have a GBX 115 ($1.51) price target on the oil and gas exploration company’s stock. Peel Hunt’s price objective would indicate a potential upside of 8.40% from the stock’s current price.
A number of other brokerages have also recently issued reports on FPM. Macquarie increased their target price on shares of Faroe Petroleum plc from GBX 114 ($1.50) to GBX 120 ($1.58) and gave the company an “outperform” rating in a report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a GBX 125 ($1.64) target price on shares of Faroe Petroleum plc in a report on Wednesday, October 4th. Finally, Barclays PLC dropped their target price on shares of Faroe Petroleum plc from GBX 115 ($1.51) to GBX 110 ($1.45) and set an “overweight” rating for the company in a report on Wednesday, September 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 117 ($1.54).
Faroe Petroleum plc (FPM) opened at GBX 106.09 ($1.40) on Friday. Faroe Petroleum plc has a 1-year low of GBX 70.50 ($0.93) and a 1-year high of GBX 115 ($1.51).
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In other Faroe Petroleum plc news, insider Helge Hammer purchased 389 shares of the stock in a transaction dated Wednesday, September 27th. The shares were acquired at an average cost of GBX 98 ($1.29) per share, for a total transaction of £381.22 ($501.41).
Faroe Petroleum plc Company Profile
Faroe Petroleum plc is an oil and gas company. The Company is focused on exploration, appraisal and production opportunities in Norway and the United Kingdom. Its portfolio consists of approximately 60 exploration, appraisal, development and production licenses in the West of Shetland, the North Sea, Norwegian Sea, Barents Sea and the Celtic Sea.
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