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

Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reissued by Peel Hunt in a research report issued to clients and investors on Friday. They currently have a GBX 115 ($1.49) price target on the oil and gas exploration company’s stock. Peel Hunt’s price objective suggests a potential upside of 34.50% from the stock’s current price.

Other analysts have also issued research reports about the company. Canaccord Genuity raised Faroe Petroleum plc to a “buy” rating and increased their price objective for the company from GBX 110 ($1.42) to GBX 115 ($1.49) in a research note on Wednesday, March 1st. Jefferies Group LLC reissued a “buy” rating and set a GBX 142 ($1.83) price objective on shares of Faroe Petroleum plc in a research note on Monday, February 13th. Barclays PLC dropped their price objective on Faroe Petroleum plc from GBX 115 ($1.49) to GBX 110 ($1.42) and set an “equal weight” rating for the company in a research note on Tuesday, April 11th. Finally, GMP Securities reissued a “hold” rating on shares of Faroe Petroleum plc in a research note on Wednesday, March 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of GBX 107.43 ($1.39).

Analyst Recommendations for Faroe Petroleum plc (LON:FPM)

Faroe Petroleum plc (LON:FPM) opened at 84.75 on Friday. Faroe Petroleum plc has a 12 month low of GBX 59.00 and a 12 month high of GBX 115.00. The stock has a 50 day moving average of GBX 94.77 and a 200-day moving average of GBX 97.17. The firm’s market cap is GBX 308.94 million.

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In other Faroe Petroleum plc news, insider Jonathan Cooper purchased 383 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The stock was bought at an average price of GBX 98 ($1.27) per share, with a total value of £375.34 ($485.00). Also, insider Graham Stewart sold 540,192 shares of the firm’s stock in a transaction on Thursday, April 13th. The stock was sold at an average price of GBX 100 ($1.29), for a total value of £540,192 ($698,012.66).

Faroe Petroleum plc Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LSE:FPM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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