Faroe Petroleum (LON:FPM) had its price objective boosted by Peel Hunt from GBX 115 ($1.56) to GBX 125 ($1.70) in a research note issued to investors on Monday. They currently have a buy rating on the oil and gas exploration company’s stock.
A number of other research firms also recently issued reports on FPM. Jefferies Group reaffirmed a buy rating and issued a GBX 125 ($1.70) target price on shares of Faroe Petroleum in a research report on Tuesday, November 21st. Barclays reissued an overweight rating and set a GBX 110 ($1.49) price target on shares of Faroe Petroleum in a research report on Wednesday, November 22nd. Finally, Macquarie boosted their price target on Faroe Petroleum from GBX 114 ($1.55) to GBX 120 ($1.63) and gave the stock an outperform rating in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of GBX 119 ($1.61).
Shares of Faroe Petroleum (FPM) opened at GBX 114.80 ($1.56) on Monday. The stock has a market capitalization of $409.25 and a PE ratio of -1,913.33. Faroe Petroleum has a 12-month low of GBX 74.50 ($1.01) and a 12-month high of GBX 115 ($1.56).
In other Faroe Petroleum news, insider Graham Stewart purchased 367 shares of the stock in a transaction on Wednesday, January 3rd. The shares were purchased at an average price of GBX 102 ($1.38) per share, with a total value of £374.34 ($507.65).
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About Faroe Petroleum
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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