Peel Hunt reaffirmed their buy rating on shares of Faroe Petroleum (LON:FPM) in a research note issued to investors on Tuesday morning. They currently have a GBX 125 ($1.77) target price on the oil and gas exploration company’s stock.
FPM has been the topic of a number of other reports. Barclays reissued an overweight rating and issued a GBX 115 ($1.63) price objective on shares of Faroe Petroleum in a research note on Wednesday, January 31st. Jefferies Group reissued a buy rating and issued a GBX 125 ($1.77) price objective on shares of Faroe Petroleum in a research note on Wednesday, December 20th. BMO Capital Markets reissued an outperform rating and issued a GBX 125 ($1.77) price objective on shares of Faroe Petroleum in a research note on Monday, February 12th. Whitman Howard raised Faroe Petroleum to a buy rating in a research note on Monday, February 12th. Finally, Canaccord Genuity boosted their price objective on Faroe Petroleum from GBX 135 ($1.91) to GBX 145 ($2.05) and gave the company a buy rating in a research note on Thursday, April 5th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of GBX 129.29 ($1.83).
Shares of LON:FPM opened at GBX 127.60 ($1.80) on Tuesday. Faroe Petroleum has a 1 year low of GBX 74.50 ($1.05) and a 1 year high of GBX 116.80 ($1.65).
In other news, insider Helge Hammer bought 349 shares of the firm’s stock in a transaction that occurred on Thursday, March 29th. The stock was acquired at an average cost of GBX 106 ($1.50) per share, with a total value of £369.94 ($522.88).
About Faroe Petroleum
Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, development, and production of oil and gas fields in Northwest Europe. It has interests in the Schooner and Ketch gas fields, and the Blane oil field in the United Kingdom; and the Brage, Ringhorne East, Ula, Tambar, Oselvar, and Trym fields in Norway.
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