The Faroe Petroleum plc (FPM) Stock Rating Upgraded by Macquarie, Report finds

The Faroe Petroleum plc (FPM) Stock Rating Upgraded by Macquarie, Report finds

A number of other equities analysts also recently issued reports on the company. Peel Hunt reaffirmed a buy rating and issued a GBX 120 ($1.49) price target on shares of Faroe Petroleum plc in a report on Wednesday, January 18th. GMP Securities reissued a buy rating on shares of Faroe Petroleum plc in a report on Wednesday, January 18th. Jefferies Group LLC increased their price objective on Faroe Petroleum plc from GBX 100 ($1.25) to GBX 142 ($1.77) and gave the company a buy rating in a report on Monday, January 9th. Barclays PLC increased their price objective on Faroe Petroleum plc from GBX 102.50 ($1.28) to GBX 115 ($1.43) and gave the company an equal weight rating in a report on Monday, January 9th. Finally, Canaccord Genuity reissued a buy rating and issued a GBX 100 ($1.25) price objective on shares of Faroe Petroleum plc in a report on Tuesday, October 25th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Faroe Petroleum plc presently has an average rating of Buy and a consensus price target of GBX 104.88 ($1.31).

Macquarie upgraded shares of Faroe Petroleum plc (LON:FPM) to an outperform rating in a research note issued to investors on Friday morning. They currently have GBX 117 ($1.46) target price on the oil and gas exploration company’s stock, up from their prior target price of GBX 111 ($1.38).

Faroe Petroleum plc (LON:FPM) opened at 108.75 on Friday. The stock’s 50 day moving average is GBX 100.34 and its 200 day moving average is GBX 79.74. The stock’s market capitalization is GBX 292.54 million. Faroe Petroleum plc has a 12-month low of GBX 52.25 and a 12-month high of GBX 110.76.

In other Faroe Petroleum plc news, insider Helge Hammer acquired 60,546 shares of the business’s stock in a transaction on Wednesday, January 11th. The stock was purchased at an average price of GBX 103 ($1.28) per share, for a total transaction of £62,362.38 ($77,681.09).

About Faroe Petroleum plc

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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