Barclays Boosts Premier Oil (LON:PMO) Price Target to GBX 100

Premier Oil (LON:PMO) had its price target boosted by Barclays from GBX 95 ($1.24) to GBX 100 ($1.31) in a research report released on Friday morning, ThisIsMoney.Co.Uk reports. Barclays currently has an equal weight rating on the oil producer’s stock.

Other analysts have also recently issued reports about the company. Berenberg Bank reaffirmed a buy rating and issued a GBX 130 ($1.70) price objective on shares of Premier Oil in a research report on Thursday, August 22nd. UBS Group reaffirmed a buy rating on shares of Premier Oil in a research report on Friday, August 16th. Canaccord Genuity raised their price objective on Premier Oil from GBX 145 ($1.89) to GBX 155 ($2.03) and gave the company a buy rating in a research report on Friday, June 28th. Peel Hunt reaffirmed a buy rating and issued a GBX 165 ($2.16) price objective on shares of Premier Oil in a research report on Thursday. Finally, Peel Hunt reissued a buy rating and set a GBX 165 ($2.16) price target on shares of Premier Oil in a report on Thursday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of GBX 148.57 ($1.94).

PMO opened at GBX 82 ($1.07) on Friday. Premier Oil has a 12-month low of GBX 54.70 ($0.71) and a 12-month high of GBX 123.60 ($1.62). The stock has a market cap of $690.34 million and a price-to-earnings ratio of 4.66. The business has a 50 day moving average of GBX 80.37 and a 200-day moving average of GBX 83.18. The company has a quick ratio of 1.12, a current ratio of 1.22 and a debt-to-equity ratio of 293.62.

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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Analyst Recommendations for Premier Oil (LON:PMO)

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