Premier Oil’s (PMO) Buy Rating Reaffirmed at Peel Hunt

Premier Oil (LON:PMO)‘s stock had its “buy” rating reaffirmed by analysts at Peel Hunt in a note issued to investors on Thursday, LSE.Co.UK reports. They presently have a GBX 165 ($2.16) price objective on the oil producer’s stock. Peel Hunt’s price objective indicates a potential upside of 103.30% from the company’s current price.

PMO has been the subject of a number of other reports. Royal Bank of Canada restated a “top pick” rating on shares of Premier Oil in a research note on Thursday, September 12th. UBS Group restated a “buy” rating on shares of Premier Oil in a research note on Friday, August 16th. Peel Hunt restated a “buy” rating and issued a GBX 165 ($2.16) target price on shares of Premier Oil in a research note on Thursday. Berenberg Bank restated a “buy” rating and issued a GBX 130 ($1.70) target price on shares of Premier Oil in a research note on Thursday, August 22nd. Finally, Canaccord Genuity upped their target price on Premier Oil from GBX 145 ($1.89) to GBX 155 ($2.03) and gave the company a “buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of GBX 147.86 ($1.93).

Shares of LON PMO traded up GBX 0.62 ($0.01) during trading hours on Thursday, reaching GBX 81.16 ($1.06). The stock had a trading volume of 8,055,234 shares, compared to its average volume of 8,200,000. The business’s fifty day moving average is GBX 80.16 and its two-hundred day moving average is GBX 83.23. The company has a debt-to-equity ratio of 293.62, a current ratio of 1.22 and a quick ratio of 1.12. The company has a market cap of $674.71 million and a price-to-earnings ratio of 4.61. Premier Oil has a twelve month low of GBX 54.70 ($0.71) and a twelve month high of GBX 129 ($1.69).

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.

Read More: Is it better to buy a fund with a higher or lower NAV?

Analyst Recommendations for Premier Oil (LON:PMO)

Receive News & Ratings for Premier Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier Oil and related companies with MarketBeat.com's FREE daily email newsletter.