Jefferies Group Boosts Premier Oil (PMO) Price Target to GBX 120

Premier Oil (LON:PMO) had its target price hoisted by Jefferies Group from GBX 110 ($1.54) to GBX 120 ($1.68) in a research report report published on Friday, January 12th. Jefferies Group currently has a buy rating on the oil producer’s stock.

Several other equities research analysts have also recently issued reports on PMO. Peel Hunt reaffirmed an under review rating on shares of Premier Oil in a research report on Friday, January 12th. Credit Suisse Group reaffirmed an underperform rating and set a GBX 60 ($0.84) price objective on shares of Premier Oil in a research report on Monday, January 8th. Barclays cut shares of Premier Oil to an underweight rating and reduced their price target for the company from GBX 72 ($1.01) to GBX 70 ($0.98) in a research report on Tuesday, November 21st. Finally, Deutsche Bank boosted their price target on shares of Premier Oil from GBX 67 ($0.94) to GBX 70 ($0.98) and gave the company a hold rating in a research report on Friday, November 17th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Premier Oil has a consensus rating of Hold and a consensus target price of GBX 88.13 ($1.24).

Premier Oil (LON:PMO) traded down GBX 1.80 ($0.03) during trading hours on Friday, hitting GBX 80.70 ($1.13). 10,420,416 shares of the company’s stock traded hands, compared to its average volume of 10,110,000. Premier Oil has a fifty-two week low of GBX 42.75 ($0.60) and a fifty-two week high of GBX 104.56 ($1.47).

In related news, insider Roy A. Franklin purchased 60,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were bought at an average price of GBX 83 ($1.16) per share, with a total value of £49,800 ($69,826.14). In the last ninety days, insiders have acquired 60,378 shares of company stock worth $5,007,378.

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Premier Oil Company Profile

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.

Analyst Recommendations for Premier Oil (LON:PMO)

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