Premier Oil PLC (OTCMKTS:PMOIY) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 8,100 shares, a growth of 65.3% from the August 31st total of 4,900 shares. Based on an average daily trading volume, of 11,200 shares, the short-interest ratio is currently 0.7 days.
PMOIY stock traded down $0.01 during mid-day trading on Wednesday, hitting $0.23. 1,020 shares of the company were exchanged, compared to its average volume of 10,173. The firm has a fifty day simple moving average of $0.30 and a 200 day simple moving average of $0.39. The company has a market capitalization of $192.01 million, a PE ratio of 1.38 and a beta of 2.75. Premier Oil has a twelve month low of $0.19 and a twelve month high of $1.55. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 2.43.
Several equities analysts recently issued reports on the stock. Investec upgraded shares of Premier Oil from a “hold” rating to a “buy” rating in a research note on Tuesday, June 16th. BMO Capital Markets reiterated a “market perform” rating on shares of Premier Oil in a research report on Friday, August 21st. ValuEngine upgraded Premier Oil from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Canaccord Genuity reiterated a “hold” rating on shares of Premier Oil in a research report on Monday, September 14th. Finally, Berenberg Bank reissued a “hold” rating on shares of Premier Oil in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $0.50.
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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