Canaccord Genuity Increases Faroe Petroleum (FPM) Price Target to GBX 145

Faroe Petroleum (LON:FPM) had its target price hoisted by Canaccord Genuity from GBX 135 ($1.90) to GBX 145 ($2.04) in a report issued on Thursday. Canaccord Genuity currently has a buy rating on the oil and gas exploration company’s stock.

FPM has been the topic of several other research reports. Peel Hunt restated a buy rating and issued a GBX 125 ($1.75) price target on shares of Faroe Petroleum in a report on Tuesday, March 20th. Royal Bank of Canada raised their price target on shares of Faroe Petroleum from GBX 130 ($1.82) to GBX 140 ($1.97) and gave the company an outperform rating in a report on Friday, March 2nd. Jefferies Group restated a buy rating and issued a GBX 125 ($1.75) price target on shares of Faroe Petroleum in a report on Wednesday, December 20th. Whitman Howard upgraded shares of Faroe Petroleum to a buy rating in a report on Monday, February 12th. Finally, Barclays restated an overweight rating and issued a GBX 115 ($1.61) price target (up previously from GBX 110 ($1.54)) on shares of Faroe Petroleum in a report on Monday, January 15th. Eight research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus price target of GBX 127.86 ($1.79).

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LON FPM opened at GBX 123.20 ($1.73) on Thursday. Faroe Petroleum has a one year low of GBX 74.50 ($1.05) and a one year high of GBX 116.80 ($1.64).

Faroe Petroleum (LON:FPM) last posted its quarterly earnings results on Tuesday, March 20th. The oil and gas exploration company reported GBX (3.10) (($0.04)) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of GBX (1.10) (($0.02)) by GBX (2) (($0.03)). Faroe Petroleum had a negative net margin of 3.67% and a negative return on equity of 2.42%. The business had revenue of £152.92 million during the quarter.

In other news, insider Helge Hammer acquired 349 shares of the company’s stock in a transaction dated Thursday, March 29th. The shares were bought at an average price of GBX 106 ($1.49) per share, for a total transaction of £369.94 ($519.29).

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Faroe Petroleum Company Profile

Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, development, and production of oil and gas fields in Northwest Europe. It has interests in the Schooner and Ketch gas fields, and the Blane oil field in the United Kingdom; and the Brage, Ringhorne East, Ula, Tambar, Oselvar, and Trym fields in Norway.

Analyst Recommendations for Faroe Petroleum (LON:FPM)

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