Berenberg Bank initiated coverage on shares of Premier Oil (LON:PMO) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating and a GBX 140 ($1.83) price target on the oil producer’s stock.
PMO has been the subject of a number of other research reports. Peel Hunt reissued a buy rating and set a GBX 140 ($1.83) target price on shares of Premier Oil in a research note on Wednesday, September 5th. Royal Bank of Canada lifted their target price on shares of Premier Oil from GBX 180 ($2.35) to GBX 230 ($3.01) and gave the company a top pick rating in a research note on Monday, October 15th. UBS Group reissued a buy rating and set a GBX 170 ($2.22) target price on shares of Premier Oil in a research note on Tuesday, September 18th. Barclays lifted their target price on shares of Premier Oil from GBX 170 ($2.22) to GBX 180 ($2.35) and gave the company an overweight rating in a research note on Wednesday, October 10th. Finally, Jefferies Financial Group restated a buy rating and set a GBX 225 ($2.94) price target on shares of Premier Oil in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of GBX 146.50 ($1.91).
Shares of LON:PMO opened at GBX 106.50 ($1.39) on Thursday. Premier Oil has a 12-month low of GBX 42.75 ($0.56) and a 12-month high of GBX 104.56 ($1.37).
Premier Oil Company Profile
Premier Oil plc, an oil and gas company, engages in the exploration, production, and development of oil and gas properties primarily in the Falkland Islands, Indonesia, Pakistan, the United Kingdom, Vietnam, and internationally. As of December 31, 2017, it had proven and probable reserves (2P) of 302 million barrels of oil equivalent (mmboe); and 2P reserves and 2C resources of 902 mmboe.
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