Published On: Fri, Feb 3rd, 2017

Premier Oil PLC downgraded to Underperform By Macquarie


In an analyst rating update on Friday shares of Premier Oil PLC (LON:PMO) had their rating downgraded by analysts at Macquarie.

The broker said it has now set a ‘Underperform’ rating on shares of Premier Oil PLC with a price target of 69. The price target according to the broker shows a possible decrease of -21.25% from the current stock price of 87.62.

LON:PMO


Over the last twelve months Premier Oil PLC’s share price has increased from 32.25 to 87.62, changing by 171.69%.

The companies 50 day moving average is 80.83 and its 200 day moving average is 69.89. The 52 week high Premier Oil PLC’s shares have peaked at is 99.5 whilst the 52 week low for the company’s shares is 24.75.

Premier Oil PLC has 510,799,000 shares which are currently outstanding with a price of 87.62 calculating Premier Oil PLC’s market capitalisation to 447.56M GBp .

Premier Oil plc is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan, the Falkland Islands and Latin America. The Company is engaged in the business of upstream oil and gas exploration and production. The Company’s operations are located and managed in six business units: the Falkland Islands, Indonesia, Pakistan (including Mauritania), the United Kingdom, Vietnam and the Rest of the World. In total, the Company manages approximately 760 million barrels of oil equivalent (mmboe). The Company has production rates of over 90 thousand barrels of oil equivalent per day (kboepd). The Company focuses on producing 68 to 73 kboepd. The Company’s four-well North Falklands Basin campaign targets multiple stacked fans in PL004 and PL032 using the Eirik Raude rig. The Company owns an interest in over two licenses, such as Natuna Sea Block A and Kakap.

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