Premier Oil (PMOIY) Cut to “Underperform” at Macquarie

Macquarie cut shares of Premier Oil (OTCMKTS:PMOIY) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday morning, MarketBeat.com reports.

A number of other brokerages also recently issued reports on PMOIY. ValuEngine downgraded Premier Oil from a hold rating to a sell rating in a report on Tuesday. Royal Bank of Canada downgraded Premier Oil from an outperform rating to a sector perform rating in a report on Tuesday. Finally, Zacks Investment Research raised Premier Oil from a hold rating to a buy rating and set a $1.50 price target on the stock in a report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $1.50.

Premier Oil (OTCMKTS:PMOIY) opened at $1.20 on Wednesday. The stock has a market capitalization of $653.60, a price-to-earnings ratio of 120.00 and a beta of 2.53. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 3.11. Premier Oil has a 1-year low of $0.56 and a 1-year high of $1.52.

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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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