Premier Oil (PMO) Stock Rating Reaffirmed by Peel Hunt

Peel Hunt reaffirmed their buy rating on shares of Premier Oil (LON:PMO) in a research report released on Wednesday. They currently have a GBX 100 ($1.38) target price on the oil producer’s stock.

Several other research firms have also recently weighed in on PMO. Barclays restated an underweight rating and issued a GBX 80 ($1.11) price objective on shares of Premier Oil in a research report on Wednesday, January 31st. Credit Suisse Group restated an underperform rating and issued a GBX 60 ($0.83) price objective on shares of Premier Oil in a research report on Tuesday, February 27th. Jefferies Group boosted their price objective on shares of Premier Oil from GBX 110 ($1.52) to GBX 120 ($1.66) and gave the stock a buy rating in a research report on Friday, January 12th. Canaccord Genuity dropped their price objective on shares of Premier Oil from GBX 130 ($1.80) to GBX 120 ($1.66) and set a buy rating for the company in a research report on Friday, January 19th. Finally, Investec dropped their price objective on shares of Premier Oil from GBX 100 ($1.38) to GBX 80 ($1.11) and set a hold rating for the company in a research report on Friday, March 2nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Premier Oil currently has a consensus rating of Hold and a consensus target price of GBX 85 ($1.17).

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PMO stock opened at GBX 69.20 ($0.96) on Wednesday. Premier Oil has a fifty-two week low of GBX 42.75 ($0.59) and a fifty-two week high of GBX 104.56 ($1.44).

In other Premier Oil news, insider Roy A. Franklin bought 60,000 shares of the stock in a transaction on Wednesday, January 31st. The stock was purchased at an average price of GBX 83 ($1.15) per share, with a total value of £49,800 ($68,803.54).

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About Premier Oil

Premier Oil plc, an upstream oil and gas company, engages in the exploration, production, and development of oil and gas properties primarily in the United Kingdom. The company is also involved in issuing convertible bonds. As of December 31, 2016, it had proven and probable reserves (2P) of 353 million barrels of oil equivalent (mmboe); and 2P reserves and 2C resources of 835 mmboe.

Analyst Recommendations for Premier Oil (LON:PMO)

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