Barclays Reaffirms Overweight Rating for Premier Oil (LON:PMO)

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Barclays restated their overweight rating on shares of Premier Oil (LON:PMO) in a report published on Monday morning, Digital Look reports. The firm currently has a GBX 125 ($1.63) price objective on the oil producer’s stock, up from their previous price objective of GBX 120 ($1.57).

A number of other analysts also recently weighed in on the company. Canaccord Genuity upped their target price on Premier Oil from GBX 130 ($1.70) to GBX 135 ($1.76) and gave the company a buy rating in a research report on Monday, February 25th. Peel Hunt reiterated a buy rating on shares of Premier Oil in a research report on Thursday, March 7th. Berenberg Bank upped their target price on Premier Oil from GBX 110 ($1.44) to GBX 120 ($1.57) and gave the company a buy rating in a research report on Tuesday, March 12th. UBS Group restated a buy rating on shares of Premier Oil in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group restated a buy rating and set a GBX 160 ($2.09) price objective on shares of Premier Oil in a research report on Thursday, March 7th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of GBX 145 ($1.89).

Premier Oil stock opened at GBX 80.54 ($1.05) on Monday. The business’s 50-day moving average price is GBX 81.73. The company has a market capitalization of $662.38 million and a price-to-earnings ratio of 5.20. The company has a quick ratio of 0.97, a current ratio of 1.46 and a debt-to-equity ratio of 248.73. Premier Oil has a one year low of GBX 54.70 ($0.71) and a one year high of GBX 146.90 ($1.92).

Premier Oil Company Profile

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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Analyst Recommendations for Premier Oil (LON:PMO)

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