UBS Group restated their buy rating on shares of Premier Oil (LON:PMO) in a research report released on Friday, www.digitallook.com reports. They currently have a GBX 170 ($2.19) price target on the oil producer’s stock.
A number of other equities analysts also recently commented on the stock. Peel Hunt reissued a buy rating on shares of Premier Oil in a research note on Wednesday, May 16th. Barclays raised shares of Premier Oil to an overweight rating and boosted their price objective for the stock from GBX 110 ($1.42) to GBX 145 ($1.87) in a research note on Thursday, May 17th. Investec reduced their price objective on shares of Premier Oil from GBX 135 ($1.74) to GBX 130 ($1.68) and set a hold rating for the company in a research note on Friday, July 20th. Finally, Royal Bank of Canada raised shares of Premier Oil to a top pick rating and boosted their price objective for the stock from GBX 120 ($1.55) to GBX 180 ($2.32) in a research note on Monday, July 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of GBX 119.50 ($1.54).
Shares of LON:PMO opened at GBX 124.40 ($1.60) on Friday. Premier Oil has a 52 week low of GBX 42.75 ($0.55) and a 52 week high of GBX 104.56 ($1.35).
Premier Oil plc, an oil and gas company, engages in the exploration, production, and development of oil and gas properties primarily in the Falkland Islands, Indonesia, Pakistan, the United Kingdom, Vietnam, and internationally. As of December 31, 2017, it had proven and probable reserves (2P) of 302 million barrels of oil equivalent (mmboe); and 2P reserves and 2C resources of 902 mmboe.
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