Faroe Petroleum plc (FPM) Given “Buy” Rating at Peel Hunt

Peel Hunt reissued their buy rating on shares of Faroe Petroleum plc (LON:FPM) in a research note issued to investors on Monday. They currently have a GBX 115 ($1.45) price target on the oil and gas exploration company’s stock.

Several other equities research analysts also recently commented on FPM. Jefferies Group LLC reissued a buy rating and issued a GBX 142 ($1.78) price objective on shares of Faroe Petroleum plc in a report on Wednesday, March 22nd. Barclays PLC increased their price objective on Faroe Petroleum plc from GBX 102.50 ($1.29) to GBX 115 ($1.45) and gave the company an equal weight rating in a report on Monday, January 9th. GMP Securities reissued a hold rating on shares of Faroe Petroleum plc in a report on Wednesday, March 15th. Macquarie raised Faroe Petroleum plc to an outperform rating and increased their price objective for the company from GBX 111 ($1.39) to GBX 117 ($1.47) in a report on Friday, February 3rd. Finally, Canaccord Genuity raised Faroe Petroleum plc to a buy rating and increased their price objective for the company from GBX 110 ($1.38) to GBX 115 ($1.45) in a report on Wednesday, March 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Faroe Petroleum plc presently has a consensus rating of Buy and a consensus price target of GBX 106.13 ($1.33).

Analyst Recommendations for Faroe Petroleum plc (LON:FPM)

Shares of Faroe Petroleum plc (LON:FPM) opened at 92.9375 on Monday. The firm’s market cap is GBX 330.84 million. The stock has a 50 day moving average of GBX 101.87 and a 200 day moving average of GBX 89.15. Faroe Petroleum plc has a 52 week low of GBX 59.00 and a 52 week high of GBX 115.00.

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In other Faroe Petroleum plc news, insider Jonathan Cooper purchased 6,689 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The shares were acquired at an average price of GBX 111 ($1.39) per share, for a total transaction of £7,424.79 ($9,331.14). Also, insider Helge Hammer purchased 60,546 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was acquired at an average price of GBX 103 ($1.29) per share, for a total transaction of £62,362.38 ($78,374.24). In the last 90 days, insiders purchased 67,620 shares of company stock worth $7,019,912.

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.

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