Peel Hunt reiterated their buy rating on shares of Faroe Petroleum plc (LON:FPM) in a research report sent to investors on Tuesday morning. They currently have a GBX 115 ($1.49) target price on the oil and gas exploration company’s stock.
A number of other equities analysts have also recently commented on the company. Macquarie raised their target price on Faroe Petroleum plc from GBX 114 ($1.47) to GBX 120 ($1.55) and gave the stock an outperform rating in a report on Tuesday. Jefferies Group LLC reaffirmed a buy rating and issued a GBX 125 ($1.61) target price on shares of Faroe Petroleum plc in a report on Tuesday, August 29th. Finally, Barclays PLC raised Faroe Petroleum plc to an overweight rating and raised their target price for the stock from GBX 110 ($1.42) to GBX 115 ($1.49) in a report on Monday, July 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of GBX 118 ($1.52).
Shares of Faroe Petroleum plc (LON:FPM) opened at 97.50 on Tuesday. Faroe Petroleum plc has a 1-year low of GBX 64.00 and a 1-year high of GBX 115.00. The company’s market capitalization is GBX 355.41 million. The company’s 50 day moving average price is GBX 88.91 and its 200-day moving average price is GBX 91.16.
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In other Faroe Petroleum plc news, insider Graham Stewart purchased 456 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were acquired at an average cost of GBX 82 ($1.06) per share, with a total value of £373.92 ($482.91).
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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