Faroe Petroleum plc (FPM) Receives GBX 106.13 Average PT from Brokerages

Faroe Petroleum plc (LON:FPM) has received an average rating of “Buy” from the ten brokerages that are currently covering the firm. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is GBX 105.50 ($1.31).

FPM has been the subject of a number of research analyst reports. Peel Hunt reissued a “buy” rating and set a GBX 115 ($1.43) target price on shares of Faroe Petroleum plc in a report on Monday, March 27th. Jefferies Group LLC increased their target price on Faroe Petroleum plc from GBX 100 ($1.24) to GBX 142 ($1.76) and gave the company a “buy” rating in a report on Monday, January 9th. Macquarie raised Faroe Petroleum plc to an “outperform” rating and increased their target price for the company from GBX 111 ($1.38) to GBX 117 ($1.45) in a report on Friday, February 3rd. Barclays PLC reduced their target price on Faroe Petroleum plc from GBX 115 ($1.43) to GBX 110 ($1.37) and set an “equal weight” rating for the company in a report on Tuesday. Finally, Canaccord Genuity raised Faroe Petroleum plc to a “buy” rating and increased their target price for the company from GBX 110 ($1.37) to GBX 115 ($1.43) in a report on Wednesday, March 1st.

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Shares of Faroe Petroleum plc (LON:FPM) traded down 0.50% during midday trading on Monday, hitting GBX 100.25. The company had a trading volume of 1,188,535 shares. The company has a 50-day moving average of GBX 98.14 and a 200-day moving average of GBX 91.93. Faroe Petroleum plc has a 12 month low of GBX 59.00 and a 12 month high of GBX 115.00. The company’s market capitalization is GBX 356.87 million.

In related news, insider Jonathan Cooper purchased 383 shares of the company’s stock in a transaction dated Friday, March 31st. The stock was acquired at an average cost of GBX 98 ($1.22) per share, for a total transaction of £375.34 ($466.09).

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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