Faroe Petroleum plc (FPM) Rating Reiterated by GMP Securities

GMP Securities reissued their hold rating on shares of Faroe Petroleum plc (LON:FPM) in a research report released on Wednesday morning.

A number of other equities analysts also recently weighed in on FPM. Jefferies Group LLC upped their target price on Faroe Petroleum plc from GBX 100 ($1.24) to GBX 142 ($1.75) and gave the company a buy rating in a report on Monday, January 9th. Barclays PLC upped their target price on Faroe Petroleum plc from GBX 102.50 ($1.27) to GBX 115 ($1.42) and gave the company an equal weight rating in a report on Monday, January 9th. Peel Hunt upped their target price on Faroe Petroleum plc from GBX 115 ($1.42) to GBX 120 ($1.48) and gave the company a buy rating in a report on Monday, January 9th. Macquarie upgraded Faroe Petroleum plc to an outperform rating and upped their target price for the company from GBX 111 ($1.37) to GBX 117 ($1.44) in a report on Friday, February 3rd. Finally, Canaccord Genuity upgraded Faroe Petroleum plc to a buy rating and upped their target price for the company from GBX 110 ($1.36) to GBX 115 ($1.42) in a report on Wednesday, March 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of GBX 106.13 ($1.31).

Analyst Recommendations for Faroe Petroleum plc (LON:FPM)

Shares of Faroe Petroleum plc (LON:FPM) opened at 93.925 on Wednesday. The stock’s 50 day moving average is GBX 103.40 and its 200-day moving average is GBX 88.24. The stock’s market cap is GBX 252.66 million. Faroe Petroleum plc has a 1-year low of GBX 59.00 and a 1-year high of GBX 115.00.

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In other news, insider Jonathan Cooper purchased 6,689 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was acquired at an average price of GBX 111 ($1.37) per share, with a total value of £7,424.79 ($9,169.80). Also, insider Helge Hammer purchased 60,546 shares of the stock in a transaction that occurred on Wednesday, January 11th. The stock was purchased at an average cost of GBX 103 ($1.27) per share, with a total value of £62,362.38 ($77,019.12). In the last three months, insiders purchased 67,620 shares of company stock valued at $7,019,912.

Faroe Petroleum plc Company Profile

Faroe Petroleum plc is an oil and gas company. The Company is focused on exploration, appraisal and production opportunities in Norway and the United Kingdom. Its portfolio consists of approximately 60 exploration, appraisal, development and production licenses in the West of Shetland, the North Sea, Norwegian Sea, Barents Sea and the Celtic Sea.

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