Premier Oil (OTCMKTS:PMOIY) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Premier Oil (OTCMKTS:PMOIY) from a hold rating to a sell rating in a research note published on Saturday morning, Zacks.com reports.

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, Pakistan, Mauritania and the Falkland Islands, while simultaneously developing assets in Mexico and Brazil. The Company is focused on developing high quality assets in parts of the world where they have a strategic or operational advantage. Premier’s strategy is to grow shareholder value by investing in high quality production and development opportunities while maintaining exposure to upside value from successful exploration within a strict capital discipline framework. “

Several other brokerages have also commented on PMOIY. Stifel Nicolaus lowered shares of Premier Oil from a buy rating to a hold rating in a report on Thursday, September 5th. ValuEngine upgraded shares of Premier Oil from a strong sell rating to a sell rating in a report on Thursday, September 5th. Finally, Barclays lowered shares of Premier Oil from an overweight rating to an equal weight rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Premier Oil has a consensus rating of Hold and a consensus price target of $1.25.

Shares of OTCMKTS PMOIY opened at $1.19 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.43 and a debt-to-equity ratio of 2.49. Premier Oil has a 12 month low of $0.69 and a 12 month high of $1.95. The firm has a market capitalization of $913.91 million, a PE ratio of 9.92 and a beta of 1.86. The firm has a fifty day simple moving average of $0.88 and a two-hundred day simple moving average of $1.04.

About Premier Oil

Premier Oil plc, an oil and gas company, engages in the exploration, production, and development of oil and gas properties primarily in the Falkland Islands, Indonesia, Pakistan, the United Kingdom, Vietnam, and internationally. As of December 31, 2017, it had proven and probable reserves (2P) of 302 million barrels of oil equivalent (mmboe); and 2P reserves and 2C resources of 902 mmboe.

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