Peel Hunt reiterated their buy rating on shares of Premier Oil (LON:PMO) in a research note published on Thursday, LSE.Co.UK reports. They currently have a GBX 165 ($2.16) price objective on the oil producer’s stock.
Several other research firms have also recently commented on PMO. Berenberg Bank reaffirmed a buy rating and issued a GBX 130 ($1.70) price objective on shares of Premier Oil in a research report on Thursday. Peel Hunt reaffirmed a buy rating and issued a GBX 165 ($2.16) price objective on shares of Premier Oil in a research report on Monday, August 19th. Royal Bank of Canada reaffirmed a top pick rating on shares of Premier Oil in a research report on Thursday, July 18th. Barclays reiterated an overweight rating and issued a GBX 125 ($1.63) price target (up from GBX 120 ($1.57)) on shares of Premier Oil in a research note on Monday, June 24th. Finally, Canaccord Genuity lifted their price target 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. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of GBX 154.38 ($2.02).
PMO opened at GBX 74.90 ($0.98) on Thursday. The stock has a market capitalization of $621.57 million and a P/E ratio of 4.83. 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 firm’s fifty day simple moving average is GBX 75.56 and its 200 day simple moving average is GBX 82.53. The company has a current ratio of 1.46, a quick ratio of 0.97 and a debt-to-equity ratio of 248.73.
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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