Premier Oil (LON:PMO) Trading Down 1.1%

Premier Oil PLC (LON:PMO) shares were down 1.1% on Monday . The stock traded as low as GBX 67.43 ($0.88) and last traded at GBX 69.58 ($0.91). Approximately 11,155,748 shares were traded during mid-day trading, an increase of 36% from the average daily volume of 8,200,000 shares. The stock had previously closed at GBX 70.36 ($0.92).

Several research analysts recently weighed in on PMO shares. Canaccord Genuity upped their target price on shares of Premier Oil from GBX 130 ($1.70) to GBX 135 ($1.76) and gave the stock a “buy” rating in a report on Monday, February 25th. Berenberg Bank upgraded shares of Premier Oil to a “buy” rating and boosted their price target for the stock from GBX 90 ($1.18) to GBX 110 ($1.44) in a research note on Wednesday, February 27th. Peel Hunt reiterated a “buy” rating on shares of Premier Oil in a research note on Thursday, March 7th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 160 ($2.09) price target on shares of Premier Oil in a research note on Thursday, March 7th. Finally, UBS Group reiterated a “buy” rating on shares of Premier Oil in a research note on Wednesday, March 20th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of GBX 142.50 ($1.86).

The company has a market cap of $572.24 million and a price-to-earnings ratio of 4.49. The company has a debt-to-equity ratio of 248.73, a quick ratio of 0.97 and a current ratio of 1.46. The stock has a 50 day simple moving average of GBX 87.01.

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About Premier Oil (LON:PMO)

Premier Oil plc, an oil and gas company, engages in the exploration, production, and development of oil and gas properties primarily in the Falkland Islands, Indonesia, Pakistan, the United Kingdom, Vietnam, and internationally. As of December 31, 2017, it had proven and probable reserves (2P) of 302 million barrels of oil equivalent (mmboe); and 2P reserves and 2C resources of 902 mmboe.

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