Macquarie restated their outperform rating on shares of Faroe Petroleum plc (LON:FPM) in a research note released on Thursday. The firm currently has a GBX 114 ($1.49) price target on the oil and gas exploration company’s stock.
Several other analysts have also commented on the company. Peel Hunt lifted their price objective on Faroe Petroleum plc from GBX 110 ($1.43) to GBX 115 ($1.50) and gave the stock a buy rating in a report on Thursday. Barclays PLC reaffirmed an overweight rating and issued a GBX 110 ($1.43) price objective on shares of Faroe Petroleum plc in a report on Thursday, June 22nd. Finally, Jefferies Group LLC cut their price objective on Faroe Petroleum plc from GBX 142 ($1.85) to GBX 125 ($1.63) and set a buy rating for the company in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Faroe Petroleum plc currently has an average rating of Buy and an average price target of GBX 113.17 ($1.47).
Faroe Petroleum plc (LON FPM) traded up 1.47% on Thursday, hitting GBX 86.00. The stock had a trading volume of 229,578 shares. The firm has a 50-day moving average of GBX 82.97 and a 200 day moving average of GBX 95.14. The company’s market capitalization is GBX 313.49 million. Faroe Petroleum plc has a 52 week low of GBX 60.50 and a 52 week high of GBX 115.00.
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In related news, insider Graham Stewart purchased 456 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was acquired at an average price of GBX 82 ($1.07) per share, with a total value of £373.92 ($487.13). Also, insider Roger Witts sold 17,319 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of GBX 93 ($1.21), for a total value of £16,106.67 ($20,983.16).
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.
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