Faroe Petroleum plc (LON:FPM) insider Graham Stewart purchased 520 shares of the business’s stock in a transaction on Friday, September 30th. The shares were purchased at an average cost of GBX 72 ($0.94) per share, for a total transaction of £374.40 ($488.71).
Faroe Petroleum plc (LON:FPM) opened at 73.75 on Wednesday. The firm’s market capitalization is GBX 198.39 million. Faroe Petroleum plc has a 12-month low of GBX 42.50 and a 12-month high of GBX 82.00. The stock has a 50 day moving average price of GBX 68.42 and a 200-day moving average price of GBX 69.50.
A number of research firms have recently issued reports on FPM. Barclays PLC boosted their target price on Faroe Petroleum plc from GBX 85 ($1.11) to GBX 100 ($1.31) and gave the company an “equal weight” rating in a report on Wednesday, July 13th. Numis Securities Ltd reissued an “under review” rating on shares of Faroe Petroleum plc in a report on Monday, July 25th. Macquarie reissued an “outperform” rating and issued a GBX 107 ($1.40) target price (up previously from GBX 90 ($1.17)) on shares of Faroe Petroleum plc in a report on Thursday, July 21st. Peel Hunt boosted their target price on Faroe Petroleum plc from GBX 100 ($1.31) to GBX 110 ($1.44) and gave the company a “buy” rating in a report on Tuesday, July 12th. Finally, Canaccord Genuity raised Faroe Petroleum plc to a “buy” rating and boosted their target price for the company from GBX 90 ($1.17) to GBX 100 ($1.31) in a report on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of GBX 98.33 ($1.28).
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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