Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a report issued on Thursday. They presently have a GBX 100 ($1.31) price target on the oil and gas exploration company’s stock. Jefferies Group’s target price would suggest a potential upside of 37.93% from the company’s previous close.
Several other brokerages have also recently issued reports on FPM. Barclays PLC reissued an “equal weight” rating and issued a GBX 100 ($1.31) price objective on shares of Faroe Petroleum plc in a research note on Tuesday, July 19th. Canaccord Genuity reissued a “buy” rating and issued a GBX 100 ($1.31) price objective on shares of Faroe Petroleum plc in a research note on Thursday, September 22nd. Macquarie reissued an “outperform” rating and issued a GBX 90 ($1.17) price objective on shares of Faroe Petroleum plc in a research note on Tuesday, July 12th. Liberum Capital boosted their price objective on shares of Faroe Petroleum plc from GBX 58 ($0.76) to GBX 70 ($0.91) and gave the company a “hold” rating in a research note on Wednesday, June 29th. Finally, Royal Bank Of Canada dropped their price objective on shares of Faroe Petroleum plc from GBX 120 ($1.57) to GBX 100 ($1.31) and set an “outperform” rating on the stock in a research note on Thursday, August 11th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of GBX 99.09 ($1.29).
Faroe Petroleum plc (LON:FPM) opened at 72.75 on Thursday. The stock has a 50 day moving average of GBX 68.34 and a 200 day moving average of GBX 69.62. Faroe Petroleum plc has a 1-year low of GBX 42.50 and a 1-year high of GBX 82.00. The stock’s market capitalization is GBX 195.70 million.
In other Faroe Petroleum plc news, insider Read,Timothy P acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The shares were acquired at an average cost of GBX 70 ($0.91) per share, for a total transaction of £35,000 ($45,685.94). Also, insider Graham Stewart acquired 520 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was acquired at an average price of GBX 72 ($0.94) per share, for a total transaction of £374.40 ($488.71).
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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