Premier Oil (OTCMKTS:PMOIY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Premier Oil PLC is engaged in oil and gas exploration, development and production. The Company’s operations are located in the North Sea, Asia, Pakistan, Mauritania and the Falkland Islands, while simultaneously developing assets in Mexico and Brazil. The Company is focused on developing high quality assets in parts of the world where they have a strategic or operational advantage. Premier’s strategy is to grow shareholder value by investing in high quality production and development opportunities while maintaining exposure to upside value from successful exploration within a strict capital discipline framework. “
Several other analysts have also commented on the stock. Royal Bank of Canada upgraded shares of Premier Oil from a “sector perform” rating to an “outperform” rating in a research report on Thursday, March 8th. Barclays upgraded shares of Premier Oil from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, April 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Premier Oil currently has an average rating of “Hold” and an average price target of $1.25.
PMOIY stock opened at $1.65 on Friday. Premier Oil has a 12 month low of $0.56 and a 12 month high of $1.84. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.99 and a current ratio of 1.01.
About Premier Oil
Premier Oil plc, an upstream oil and gas company, engages in the exploration, production, and development of oil and gas properties primarily in the United Kingdom. The company is also involved in issuing convertible bonds. As of December 31, 2016, it had proven and probable reserves (2P) of 353 million barrels of oil equivalent (mmboe); and 2P reserves and 2C resources of 835 mmboe.
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