Premier Oil (LON:PMO) Receives “Buy” Rating from Peel Hunt

Peel Hunt restated their buy rating on shares of Premier Oil (LON:PMO) in a research report sent to investors on Thursday, Digital Look reports. They currently have a GBX 155 ($2.03) target price on the oil producer’s stock.

PMO has been the subject of several other reports. Berenberg Bank reissued a buy rating and set a GBX 130 ($1.70) target price on shares of Premier Oil in a research note on Thursday, August 22nd. UBS Group reissued a buy rating on shares of Premier Oil in a research note on Friday, August 16th. Royal Bank of Canada reissued a top pick rating on shares of Premier Oil in a research note on Friday, October 18th. Peel Hunt reissued a buy rating and set a GBX 165 ($2.16) target price on shares of Premier Oil in a research note on Thursday, October 17th. Finally, Barclays boosted their target price on Premier Oil from GBX 95 ($1.24) to GBX 100 ($1.31) and gave the stock an equal weight rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of GBX 144.29 ($1.89).

PMO traded up GBX 1.10 ($0.01) on Thursday, hitting GBX 88.04 ($1.15). 3,278,653 shares of the company were exchanged, compared to its average volume of 8,200,000. Premier Oil has a twelve month low of GBX 54.70 ($0.71) and a twelve month high of GBX 110.20 ($1.44). The company has a market cap of $731.91 million and a price-to-earnings ratio of 5.00. The company has a current ratio of 1.22, a quick ratio of 1.12 and a debt-to-equity ratio of 293.62. The firm has a 50-day moving average price of GBX 81.59 and a two-hundred day moving average price of GBX 81.39.

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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