Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reiterated by equities research analysts at Peel Hunt in a research note issued to investors on Friday. They presently have a GBX 100 ($1.31) price objective on the oil and gas exploration company’s stock. Peel Hunt’s price objective indicates a potential upside of 38.89% from the company’s current price.
Several other research analysts have also recently weighed in on the company. Canaccord Genuity restated a “buy” rating and issued a GBX 100 ($1.31) price target on shares of Faroe Petroleum plc in a research note on Thursday, September 22nd. Jefferies Group restated a “buy” rating and issued a GBX 100 ($1.31) price target on shares of Faroe Petroleum plc in a research note on Thursday, September 22nd. Royal Bank Of Canada decreased their price target on Faroe Petroleum plc from GBX 120 ($1.57) to GBX 100 ($1.31) and set an “outperform” rating for the company in a research note on Thursday, August 11th. Numis Securities Ltd restated an “under review” rating on shares of Faroe Petroleum plc in a research note on Monday, July 25th. Finally, Macquarie restated an “outperform” rating and issued a GBX 107 ($1.40) price target (up previously from GBX 90 ($1.17)) on shares of Faroe Petroleum plc in a research note on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of GBX 98.33 ($1.28).
Shares of Faroe Petroleum plc (LON:FPM) opened at 72.00 on Friday. The stock’s 50 day moving average price is GBX 68.03 and its 200-day moving average price is GBX 69.28. The company’s market cap is GBX 193.68 million. Faroe Petroleum plc has a 12 month low of GBX 42.50 and a 12 month high of GBX 82.00.
In other Faroe Petroleum plc news, insider Read,Timothy P acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, July 19th. The stock was purchased at an average price of GBX 70 ($0.91) per share, with a total value of £35,000 ($45,685.94).
About Faroe Petroleum plc
Faroe Petroleum plc is an independent oil and gas company that is engaged in the exploration, appraisal and production opportunities in Norway and the United Kingdom. The Company has a portfolio of production assets, including Aerosmith-PL644, located approximately 20 kilometers from the Morvin and Smorbukk Fields in the province of the Norwegian Sea; Betula-PL670, located in the vicinity of the Jurassic Ula Field in the Central North Sea; Birnam-P1993, located in the north-east of the Perth Field; Caramello-PL665 S, located on the Sorvestlandet High in the Norwegian Southern North Sea; Firklover-PL676 S, located on the Viking Graben; Hyme Field-PL348, located in the southern part of the Norwegian Sea, and Samson Dome-PL534, covering approximately 900 square kilometers.
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