Research analysts at Liberum Capital started coverage on shares of Faroe Petroleum (LON:FPM) in a research note issued to investors on Monday. The firm set an “add” rating and a GBX 157 ($2.09) price target on the oil and gas exploration company’s stock. Liberum Capital’s price objective points to a potential upside of 7.88% from the stock’s current price.
A number of other brokerages have also issued reports on FPM. Peel Hunt reaffirmed an “add” rating on shares of Faroe Petroleum in a research note on Tuesday, June 5th. Barclays lifted their price target on Faroe Petroleum from GBX 105 ($1.40) to GBX 125 ($1.66) and gave the stock an “underweight” rating in a research note on Wednesday, April 11th. Finally, Canaccord Genuity lifted their price target on Faroe Petroleum from GBX 135 ($1.80) to GBX 145 ($1.93) and gave the stock a “buy” rating in a research note on Thursday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of GBX 135 ($1.80).
Shares of LON:FPM opened at GBX 145.54 ($1.94) on Monday. Faroe Petroleum has a 1 year low of GBX 74.50 ($0.99) and a 1 year high of GBX 116.80 ($1.56).
In other Faroe Petroleum news, insider Helge Hammer sold 425,204 shares of the business’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of GBX 138 ($1.84), for a total transaction of £586,781.52 ($781,229.56).
Faroe Petroleum Company Profile
Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, and development of oil and gas fields in Northwest Europe. The company has interests in the Trym, Tambar, Ula, and Ringhorne East fields in Norway; and Blane oil field in the United Kingdom. As of January 1, 2018, it had proven and probable reserves of 114.1 million barrels of oil equivalent.
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