Faroe Petroleum’s (FPM) Overweight Rating Reiterated at Barclays

Barclays reissued their overweight rating on shares of Faroe Petroleum (LON:FPM) in a report released on Wednesday morning. Barclays currently has a GBX 115 ($1.61) target price on the oil and gas exploration company’s stock.

FPM has been the topic of a number of other reports. Jefferies Group reaffirmed a buy rating and issued a GBX 125 ($1.76) price objective on shares of Faroe Petroleum in a research note on Wednesday, December 20th. Peel Hunt raised their price objective on shares of Faroe Petroleum from GBX 115 ($1.61) to GBX 125 ($1.76) and gave the company a buy rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of GBX 120 ($1.69).

Faroe Petroleum (LON FPM) opened at GBX 106.40 ($1.49) on Wednesday. Faroe Petroleum has a 52 week low of GBX 74.50 ($1.05) and a 52 week high of GBX 116.80 ($1.64). The stock has a market cap of $390.11 and a P/E ratio of -1,773.33.

In other news, insider Graham Stewart purchased 367 shares of Faroe Petroleum stock in a transaction dated Wednesday, January 3rd. The shares were bought at an average cost of GBX 102 ($1.43) per share, with a total value of £374.34 ($525.68).

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Faroe Petroleum 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.

Analyst Recommendations for Faroe Petroleum (LON:FPM)

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