Premier Oil (PMO) PT Raised to GBX 130

Premier Oil (LON:PMO) had its target price boosted by Berenberg Bank from GBX 120 ($1.57) to GBX 130 ($1.70) in a research note published on Thursday morning, Digital Look reports. They currently have a buy rating on the oil producer’s stock.

Several other research analysts have also issued reports on the company. Barclays reaffirmed an overweight rating and set a GBX 105 ($1.37) target price on shares of Premier Oil in a research report on Monday, February 11th. Peel Hunt reaffirmed a buy rating on shares of Premier Oil in a research report on Thursday, February 7th. Canaccord Genuity reduced their target price on Premier Oil from GBX 145 ($1.89) to GBX 140 ($1.83) and set a buy rating on the stock in a research report on Tuesday, April 9th. UBS Group reaffirmed a buy rating on shares of Premier Oil in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group reaffirmed a buy rating and set a GBX 160 ($2.09) target price on shares of Premier Oil in a research report on Thursday, March 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of GBX 142.50 ($1.86).

Shares of PMO stock traded up GBX 1.14 ($0.01) during trading hours on Thursday, reaching GBX 99.42 ($1.30). 8,090,100 shares of the company traded hands, compared to its average volume of 8,200,000. Premier Oil has a 12-month low of GBX 54.70 ($0.71) and a 12-month high of GBX 146.90 ($1.92). The company has a quick ratio of 0.97, a current ratio of 1.46 and a debt-to-equity ratio of 248.73. The stock has a market cap of $817.65 million and a P/E ratio of 6.41.

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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