Canaccord Genuity Boosts Premier Oil (LON:PMO) Price Target to GBX 155

Premier Oil (LON:PMO) had its target price increased by research analysts at Canaccord Genuity from GBX 145 ($1.89) to GBX 155 ($2.03) in a research note issued on Friday, June 28th, Digital Look reports. The firm presently has a “buy” rating on the oil producer’s stock. Canaccord Genuity’s target price would suggest a potential upside of 98.82% from the stock’s previous close.

A number of other equities analysts also recently weighed in on PMO. Barclays reaffirmed an “overweight” rating and set a GBX 310 ($4.05) price target on shares of in a research note on Monday, June 24th. Royal Bank of Canada started coverage on shares of Robert Half International in a research note on Tuesday, April 16th. They set a “sector perform” rating on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 175 ($2.29) price target on shares of in a research note on Thursday, June 27th. Jefferies Financial Group increased their price target on shares of Nice to $166.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, Peel Hunt reaffirmed a “buy” rating on shares of Sensyne Health in a research note on Monday, June 24th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of GBX 146.88 ($1.92).

LON:PMO traded up GBX 1.04 ($0.01) during trading hours on Friday, reaching GBX 77.96 ($1.02). 7,042,905 shares of the company were exchanged, compared to its average volume of 8,200,000. The company has a current ratio of 1.46, a quick ratio of 0.97 and a debt-to-equity ratio of 248.73. The stock has a market cap of $646.88 million and a price-to-earnings ratio of 5.03. Premier Oil has a 52-week low of GBX 54.70 ($0.71) and a 52-week high of GBX 146.90 ($1.92). The company’s 50 day moving average is GBX 76.09.

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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