Premier Oil (OTCMKTS:PMOIY) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Premier Oil (OTCMKTS:PMOIY) from a sell rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

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 equities analysts have also recently weighed in on the company. Macquarie assumed coverage on Premier Oil in a research note on Wednesday, May 1st. They set an outperform rating on the stock. ValuEngine cut Premier Oil from a sell rating to a strong sell rating in a research note on Thursday, August 1st. Finally, Barclays cut Premier Oil from an overweight rating to an equal weight rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $1.25.

Shares of OTCMKTS:PMOIY opened at $0.80 on Thursday. The company has a current ratio of 1.46, a quick ratio of 1.43 and a debt-to-equity ratio of 2.49. The stock’s fifty day simple moving average is $0.89 and its two-hundred day simple moving average is $1.04. Premier Oil has a 1-year low of $0.69 and a 1-year high of $1.95. The stock has a market cap of $615.47 million, a PE ratio of 6.67 and a beta of 1.78.

About Premier Oil

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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