The Faroe Petroleum plc (FPM) Earns Buy Rating from Jefferies Group

The Faroe Petroleum plc (FPM) Earns Buy Rating from Jefferies Group

Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group in a report issued on Thursday. They currently have a GBX 100 ($1.31) price target on the oil and gas exploration company’s stock. Jefferies Group’s price target would suggest a potential upside of 37.93% from the company’s current price.

Several other equities analysts also recently issued reports on the company. Peel Hunt reiterated a “buy” rating and set a GBX 100 ($1.31) price objective on shares of Faroe Petroleum plc in a research report on Friday, September 30th. Canaccord Genuity reiterated a “buy” rating and set a GBX 100 ($1.31) price objective on shares of Faroe Petroleum plc in a research report on Thursday, September 22nd. Royal Bank Of Canada reduced their price objective on Faroe Petroleum plc from GBX 120 ($1.57) to GBX 100 ($1.31) and set an “outperform” rating for the company in a research report on Thursday, August 11th. Numis Securities Ltd restated an “under review” rating on shares of Faroe Petroleum plc in a research report on Monday, July 25th. Finally, Macquarie restated an “outperform” rating and issued a GBX 107 ($1.40) target price (up from GBX 90 ($1.17)) on shares of Faroe Petroleum plc in a research report on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of GBX 98.33 ($1.28).

Faroe Petroleum plc (LON:FPM) traded up 1.75% during midday trading on Thursday, hitting GBX 72.50. The stock had a trading volume of 1,347,992 shares. Faroe Petroleum plc has a one year low of GBX 42.50 and a one year high of GBX 82.00. The stock’s market cap is GBX 195.03 million. The firm has a 50 day moving average price of GBX 68.35 and a 200 day moving average price of GBX 69.57.

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In other news, insider Graham Stewart bought 520 shares of the business’s stock in a transaction on Friday, September 30th. The shares were bought at an average cost of GBX 72 ($0.94) per share, with a total value of £374.40 ($488.71). Also, insider Read,Timothy P bought 50,000 shares of the business’s stock in a transaction on Tuesday, July 19th. The shares were purchased at an average cost of GBX 70 ($0.91) per share, for a total transaction of £35,000 ($45,685.94).

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