Premier Oil (PMO) Price Target Cut to GBX 130 by Analysts at Barclays

Premier Oil (LON:PMO) had its price target lowered by Barclays from GBX 180 ($2.35) to GBX 130 ($1.70) in a report released on Monday. The firm currently has an “overweight” rating on the oil producer’s stock. Barclays’ target price would indicate a potential upside of 65.39% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. UBS Group reaffirmed a “buy” rating and issued a GBX 170 ($2.22) price target on shares of Premier Oil in a research report on Friday, August 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 225 ($2.94) price target on shares of Premier Oil in a research report on Monday, October 22nd. Berenberg Bank began coverage on Premier Oil in a research report on Thursday, November 1st. They issued a “hold” rating and a GBX 140 ($1.83) price target on the stock. Peel Hunt reaffirmed a “buy” rating on shares of Premier Oil in a research report on Wednesday, August 1st. Finally, Royal Bank of Canada increased their price target on Premier Oil from GBX 180 ($2.35) to GBX 230 ($3.01) and gave the company a “top pick” rating in a research report on Monday, October 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of GBX 149.44 ($1.95).

PMO stock opened at GBX 78.60 ($1.03) on Monday. Premier Oil has a 1 year low of GBX 42.75 ($0.56) and a 1 year 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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Analyst Recommendations for Premier Oil (LON:PMO)

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