Faroe Petroleum plc (LON:FPM) has been given a consensus recommendation of “Buy” by the thirteen ratings firms that are covering the stock. Five analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is GBX 99.27 ($1.30).
Several equities research analysts have weighed in on FPM shares. Canaccord Genuity restated a “buy” rating and set a GBX 100 ($1.31) price target on shares of Faroe Petroleum plc in a report on Wednesday, August 31st. Jefferies Group started coverage on Faroe Petroleum plc in a report on Friday, September 16th. They set a “buy” rating and a GBX 100 ($1.31) price target on the stock. Macquarie restated an “outperform” rating and set a GBX 90 ($1.17) price target on shares of Faroe Petroleum plc in a report on Tuesday, July 12th. Barclays PLC restated an “equal weight” rating and set a GBX 100 ($1.31) price target on shares of Faroe Petroleum plc in a report on Tuesday, July 19th. Finally, Numis Securities Ltd restated an “under review” rating on shares of Faroe Petroleum plc in a report on Monday, July 25th.
In related news, insider Read,Timothy P acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was bought at an average cost of GBX 70 ($0.91) per share, with a total value of £35,000 ($45,685.94).
Shares of Faroe Petroleum plc (LON:FPM) traded down 1.04% on Friday, hitting GBX 71.25. The stock had a trading volume of 415,323 shares. The firm’s 50-day moving average price is GBX 68.03 and its 200 day moving average price is GBX 69.28. Faroe Petroleum plc has a 52-week low of GBX 42.50 and a 52-week high of GBX 82.00. The firm’s market cap is GBX 191.67 million.
About Faroe Petroleum plc
Faroe Petroleum plc is an independent oil and gas company that is engaged in the exploration, appraisal and production opportunities in Norway and the United Kingdom. The Company has a portfolio of production assets, including Aerosmith-PL644, located approximately 20 kilometers from the Morvin and Smorbukk Fields in the province of the Norwegian Sea; Betula-PL670, located in the vicinity of the Jurassic Ula Field in the Central North Sea; Birnam-P1993, located in the north-east of the Perth Field; Caramello-PL665 S, located on the Sorvestlandet High in the Norwegian Southern North Sea; Firklover-PL676 S, located on the Viking Graben; Hyme Field-PL348, located in the southern part of the Norwegian Sea, and Samson Dome-PL534, covering approximately 900 square kilometers.
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