Macquarie reiterated their outperform rating on shares of Faroe Petroleum plc (LON:FPM) in a research note issued to investors on Thursday, July 27th. The brokerage currently has a GBX 114 ($1.48) price objective on the oil and gas exploration company’s stock.
Several other research analysts have also issued reports on FPM. Barclays PLC reduced their target price on shares of Faroe Petroleum plc from GBX 115 ($1.50) to GBX 110 ($1.43) and set an equal weight rating on the stock in a research note on Tuesday, April 11th. Jefferies Group LLC reduced their target price on shares of Faroe Petroleum plc from GBX 142 ($1.85) to GBX 125 ($1.63) and set a buy rating on the stock in a research note on Wednesday, May 17th. Finally, Peel Hunt reaffirmed a buy rating and issued a GBX 115 ($1.50) target price on shares of Faroe Petroleum plc in a research note on Thursday, May 25th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of GBX 114 ($1.48).
Shares of Faroe Petroleum plc (LON:FPM) opened at 87.75 on Thursday. The company’s 50-day moving average is GBX 83.04 and its 200 day moving average is GBX 94.45. Faroe Petroleum plc has a 1-year low of GBX 60.50 and a 1-year high of GBX 115.00. The firm’s market capitalization is GBX 319.87 million.
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In other news, insider Graham Stewart acquired 456 shares of Faroe Petroleum plc stock in a transaction that occurred on Wednesday, June 28th. The shares were acquired at an average price 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.
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