Premier Oil (LON:PMO) Given “Buy” Rating at Peel Hunt

Peel Hunt restated their buy rating on shares of Premier Oil (LON:PMO) in a research note released on Thursday, December 28th, StockTargetPrices.com reports. Peel Hunt currently has a GBX 100 ($1.36) target price on the oil producer’s stock.

A number of other brokerages also recently issued reports on PMO. Credit Suisse Group reiterated an underperform rating and issued a GBX 60 ($0.81) price target on shares of Premier Oil in a report on Tuesday, September 19th. Jefferies Group restated a buy rating and set a GBX 90 ($1.22) target price on shares of Premier Oil in a research note on Wednesday, October 4th. Deutsche Bank boosted their target price on Premier Oil from GBX 65 ($0.88) to GBX 67 ($0.91) and gave the stock a hold rating in a research note on Friday, October 13th. Finally, Barclays cut Premier Oil to an underweight rating and lowered their price target for the stock from GBX 72 ($0.98) to GBX 70 ($0.95) in a research report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of GBX 84.33 ($1.14).

Shares of Premier Oil (LON PMO) traded down GBX 4.60 ($0.06) during mid-day trading on Thursday, hitting GBX 95.60 ($1.30). The company had a trading volume of 24,455,483 shares, compared to its average volume of 6,110,000. Premier Oil has a 52-week low of GBX 42.75 ($0.58) and a 52-week high of GBX 104.56 ($1.42).

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About Premier Oil

Premier Oil plc is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan, the Falkland Islands and Latin America. The Company is engaged in the business of upstream oil and gas exploration and production. The Company’s operations are located and managed in six business units: the Falkland Islands, Indonesia, Pakistan (including Mauritania), the United Kingdom, Vietnam and the Rest of the World.

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