Premier Oil PLC (LON:PMO) Given Average Recommendation of “Buy” by Brokerages

Shares of Premier Oil PLC (LON:PMO) have been given a consensus rating of “Buy” by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is GBX 150 ($1.96).

Several analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and set a GBX 175 ($2.29) price objective on shares of Premier Oil in a research note on Thursday, May 16th. Canaccord Genuity lifted their price objective on shares of 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. Royal Bank of Canada restated a “top pick” rating on shares of Premier Oil in a research note on Thursday, July 18th. Barclays restated an “overweight” rating and set a GBX 125 ($1.63) price objective (up from GBX 120 ($1.57)) on shares of Premier Oil in a research note on Monday, June 24th. Finally, Peel Hunt lifted their price objective on shares of Premier Oil from GBX 155 ($2.03) to GBX 165 ($2.16) and gave the company a “buy” rating in a research note on Thursday, August 8th.

LON PMO traded down GBX 2.52 ($0.03) on Friday, hitting GBX 64.72 ($0.85). 8,401,788 shares of the company’s stock traded hands, compared to its average volume of 8,200,000. The company has a quick ratio of 0.97, a current ratio of 1.46 and a debt-to-equity ratio of 248.73. Premier Oil has a 1-year low of GBX 54.70 ($0.71) and a 1-year high of GBX 146.90 ($1.92). The stock’s 50-day moving average price is GBX 76.78. The firm has a market cap of $537.09 million and a price-to-earnings ratio of 4.18.

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.

See Also: What does a hold rating mean?

Analyst Recommendations for Premier Oil (LON:PMO)

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