Faroe Petroleum (LON:FPM) had its price objective upped by Canaccord Genuity from GBX 135 ($1.90) to GBX 145 ($2.04) in a research report sent to investors on Thursday morning. Canaccord Genuity currently has a buy rating on the oil and gas exploration company’s stock.
A number of other analysts have also weighed in on FPM. Peel Hunt reiterated a buy rating and issued a GBX 125 ($1.75) target price on shares of Faroe Petroleum in a research note on Tuesday, March 20th. BMO Capital Markets reiterated an outperform rating and issued a GBX 125 ($1.75) target price on shares of Faroe Petroleum in a research note on Monday, February 12th. Whitman Howard raised Faroe Petroleum to a buy rating in a research report on Monday, February 12th. Barclays reissued an overweight rating and set a GBX 115 ($1.61) price target on shares of Faroe Petroleum in a research report on Wednesday, January 31st. Finally, Jefferies Group reissued a buy rating and set a GBX 125 ($1.75) price target on shares of Faroe Petroleum in a research report on Wednesday, December 20th. Eight investment analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average target price of GBX 127.86 ($1.79).
FPM stock remained flat at $GBX 125 ($1.75) during midday trading on Thursday. The company’s stock had a trading volume of 873,799 shares, compared to its average volume of 643,390. Faroe Petroleum has a twelve month low of GBX 74.50 ($1.05) and a twelve month high of GBX 116.80 ($1.64).
Faroe Petroleum (LON:FPM) last released its earnings results on Tuesday, March 20th. The oil and gas exploration company reported GBX (3.10) (($0.04)) earnings per share for the quarter, missing analysts’ consensus estimates of GBX (1.10) (($0.02)) by GBX (2) (($0.03)). Faroe Petroleum had a negative return on equity of 2.42% and a negative net margin of 3.67%. The business had revenue of £152.92 million during the quarter.
In other news, insider Helge Hammer purchased 349 shares of the company’s stock in a transaction dated Thursday, March 29th. The shares were acquired at an average price of GBX 106 ($1.49) per share, with a total value of £369.94 ($519.29).
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Faroe Petroleum Company Profile
Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, development, and production of oil and gas fields in Northwest Europe. It has interests in the Schooner and Ketch gas fields, and the Blane oil field in the United Kingdom; and the Brage, Ringhorne East, Ula, Tambar, Oselvar, and Trym fields in Norway.
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