Zacks Investment Research upgraded shares of Premier Oil (OTCMKTS:PMOIY) from a sell rating to a hold rating in a research report sent to investors on Thursday morning, 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. “

Other analysts also recently issued research reports about the stock. Barclays downgraded shares of Premier Oil from an overweight rating to an equal weight rating in a research report on Friday, August 2nd. Macquarie initiated coverage on shares of Premier Oil in a research report on Wednesday, May 1st. They set an outperform rating for the company. Finally, ValuEngine downgraded shares of Premier Oil from a sell rating to a strong sell rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $1.25.

OTCMKTS:PMOIY opened at $0.80 on Thursday. The company has a market capitalization of $615.47 million, a PE ratio of 6.67 and a beta of 1.78. The company has a 50 day simple moving average of $0.89 and a two-hundred day simple moving average of $1.04. The company has a debt-to-equity ratio of 2.49, a quick ratio of 1.43 and a current ratio of 1.46. Premier Oil has a fifty-two week low of $0.69 and a fifty-two week high of $1.95.

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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