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 report released on Wednesday morning, 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. “

A number of other research firms have also recently commented on PMOIY. Macquarie initiated coverage on Tullow Oil in a report on Wednesday, May 1st. They set a neutral rating for the company. ValuEngine cut Zogenix from a strong-buy rating to a buy rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus raised Premier Oil from a hold rating to a buy rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Premier Oil has a consensus rating of Hold and a consensus price target of $1.25.

Shares of OTCMKTS PMOIY opened at $0.91 on Wednesday. The firm has a fifty day moving average of $1.02. Premier Oil has a fifty-two week low of $0.69 and a fifty-two week high of $1.95.

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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