Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group in a research report issued to clients and investors on Thursday. They presently have a GBX 100 ($1.31) price objective on the oil and gas exploration company’s stock. Jefferies Group’s target price indicates a potential upside of 36.52% from the company’s previous close.
FPM has been the subject of several other reports. Numis Securities Ltd reissued an “under review” rating on shares of Faroe Petroleum plc in a report on Monday, July 25th. Peel Hunt reissued a “buy” rating and set a GBX 100 ($1.31) price objective on shares of Faroe Petroleum plc in a report on Thursday, June 16th. Barclays PLC boosted their price objective on Faroe Petroleum plc from GBX 85 ($1.11) to GBX 100 ($1.31) and gave the stock an “equal weight” rating in a report on Wednesday, July 13th. Macquarie reissued an “outperform” rating and set a GBX 107 ($1.40) price objective (up from GBX 90 ($1.17)) on shares of Faroe Petroleum plc in a report on Thursday, July 21st. Finally, Liberum Capital reissued a “hold” rating and set a GBX 58 ($0.76) price objective on shares of Faroe Petroleum plc in a report on Thursday, June 16th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of GBX 98.33 ($1.28).
Shares of Faroe Petroleum plc (LON:FPM) opened at 73.25 on Thursday. Faroe Petroleum plc has a 52-week low of GBX 42.50 and a 52-week high of GBX 82.00. The stock’s market capitalization is GBX 197.05 million. The stock has a 50 day moving average of GBX 68.44 and a 200-day moving average of GBX 69.53.
In other Faroe Petroleum plc news, insider Read,Timothy P acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The stock was acquired at an average cost of GBX 70 ($0.91) per share, for a total transaction of £35,000 ($45,685.94). Also, insider Graham Stewart acquired 520 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was acquired at an average price of GBX 72 ($0.94) per share, with a total value of £374.40 ($488.71).
Faroe Petroleum plc Company Profile
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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