Premier Oil (OTCMKTS:PMOIY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, June 5th.
According to Zacks, “Premier Oil PLC is engaged in oil and gas exploration, development and production. The Company’s operations are located in the North Sea, Asia, Middle East-Pakistan, and West Africa. It is independent and pursuing its strategy of low-risk development of existing discovered reserves whilst maintaining shareholder leverage to material exploration upside. The company is pre-funded for its committed development programme and planned exploration programme. The Company is focused on four core Businesses in the North Sea, Africa, Middle East/Pakistan, and Asia. Premier is seeking to grow through organic production growth, high impact exploration, and acquisitions in the areas they know well. “
Several other equities analysts also recently commented on the company. Barclays upgraded Premier Oil from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, April 11th. Royal Bank of Canada upgraded Premier Oil from a “sector perform” rating to an “outperform” rating in a research report on Thursday, March 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Premier Oil has a consensus rating of “Hold” and an average target price of $1.25.
Premier Oil Company Profile
Premier Oil plc, an upstream oil and gas company, engages in the exploration, production, and development of oil and gas properties primarily in the United Kingdom. The company is also involved in issuing convertible bonds. As of December 31, 2016, it had proven and probable reserves (2P) of 353 million barrels of oil equivalent (mmboe); and 2P reserves and 2C resources of 835 mmboe.
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