Faroe Petroleum plc (LON:FPM) had its target price lifted by equities researchers at Macquarie from GBX 114 ($1.47) to GBX 120 ($1.55) in a research note issued to investors on Tuesday. The firm presently has an “outperform” rating on the oil and gas exploration company’s stock. Macquarie’s price target suggests a potential upside of 23.08% from the company’s current price.
Several other analysts have also recently issued reports on FPM. Jefferies Group LLC decreased their price objective on Faroe Petroleum plc from GBX 142 ($1.83) to GBX 125 ($1.61) and set a “buy” rating on the stock in a report on Wednesday, May 17th. Peel Hunt reaffirmed a “buy” rating and set a GBX 115 ($1.49) price objective on shares of Faroe Petroleum plc in a report on Thursday, May 25th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a GBX 110 ($1.42) price objective on shares of Faroe Petroleum plc in a report on Thursday, June 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Faroe Petroleum plc currently has a consensus rating of “Buy” and an average target price of GBX 118 ($1.52).
Faroe Petroleum plc (LON FPM) opened at 95.75 on Tuesday. The company’s market capitalization is GBX 349.03 million. Faroe Petroleum plc has a 12 month low of GBX 60.50 and a 12 month high of GBX 115.00. The firm’s 50-day moving average is GBX 87.23 and its 200-day moving average is GBX 91.15.
In related news, insider Graham Stewart bought 456 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were purchased at an average price of GBX 82 ($1.06) per share, with a total value of £373.92 ($482.91).
About Faroe Petroleum plc
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.
Receive News & Ratings for Faroe Petroleum plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Faroe Petroleum plc and related companies with MarketBeat.com's FREE daily email newsletter.