Faroe Petroleum plc (LON:FPM) Earns “Buy” Rating from Jefferies Group LLC

Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a report released on Thursday. They currently have a GBX 125 ($1.63) price objective on the oil and gas exploration company’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 40.06% from the stock’s current price.

A number of other brokerages have also commented on FPM. Peel Hunt reaffirmed a “buy” rating and set a GBX 115 ($1.50) target price on shares of Faroe Petroleum plc in a research report on Thursday, May 25th. Barclays PLC raised shares of Faroe Petroleum plc to an “overweight” rating and raised their target price for the stock from GBX 110 ($1.43) to GBX 115 ($1.50) in a research report on Monday, July 31st. Finally, Macquarie reaffirmed an “outperform” rating and set a GBX 114 ($1.48) target price on shares of Faroe Petroleum plc in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Faroe Petroleum plc presently has a consensus rating of “Buy” and an average target price of GBX 114 ($1.48).

Faroe Petroleum plc (LON FPM) opened at 89.25 on Thursday. Faroe Petroleum plc has a 12-month low of GBX 60.50 and a 12-month high of GBX 115.00. The company’s market capitalization is GBX 325.34 million. The stock has a 50 day moving average price of GBX 83.22 and a 200-day moving average price of GBX 94.23.

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In other Faroe Petroleum plc news, insider Graham Stewart acquired 456 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were bought at an average cost of GBX 82 ($1.07) per share, with a total value of £373.92 ($486.94).

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.

Analyst Recommendations for Faroe Petroleum plc (LON:FPM)

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