Premier Oil (LON:PMO) had its price objective increased by Berenberg Bank from GBX 110 ($1.44) to GBX 120 ($1.57) in a research note published on Tuesday morning. Berenberg Bank currently has a buy rating on the oil producer’s stock.
A number of other research analysts have also recently weighed in on the stock. Barclays reissued an overweight rating on shares of Premier Oil in a research note on Tuesday, December 18th. Canaccord Genuity raised their price objective on shares of Premier Oil from GBX 130 ($1.70) to GBX 135 ($1.76) and gave the stock a buy rating in a research note on Monday, February 25th. UBS Group reissued a buy rating on shares of Premier Oil in a research note on Friday, November 16th. Royal Bank of Canada dropped their price objective on shares of Premier Oil from GBX 230 ($3.01) to GBX 200 ($2.61) and set a top pick rating for the company in a research note on Monday, December 10th. Finally, Peel Hunt reissued a buy rating on shares of Premier Oil in a research note on Thursday, November 15th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of GBX 137.50 ($1.80).
Shares of PMO opened at GBX 86.65 ($1.13) on Tuesday. The company has a debt-to-equity ratio of 248.73, a current ratio of 1.46 and a quick ratio of 1.06. 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 company has a market cap of $713.84 million and a PE ratio of 5.59.
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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