Premier Oil and Rockhopper abandon Ocean Rig contract
12th Feb 2016 14:13
(ShareCast News) - Oil and gas companies Premier Oil and Rockhopper Exploration announced the termination of a joint venture drilling contract with Ocean Rig in the Falklands. They said the termination followed "a number of material operational issues" at the Eirik Raude rig during the term of the c
Read moreLiberum cuts targets on wide swathe of oil sector firms
2nd Feb 2016 12:33
(ShareCast News) - Analysts at Liberum cut their share price targets for a wide swathe of the London-listed oil sector after taking into account the sharp shift lower in futures prices over the last four months. Worries about demand conditions in China and Europe, together with the threat of growing
Read moreBroker tips: Allied Minds, Premier Oil, Domino's, Just Eat
1st Feb 2016 14:13
(ShareCast News) - Shares in Allied Minds gained on Monday as Numis reiterated the stock at 'buy' after the company announced a successful $22m (£15.4m) fundraising for its subsidiary Federated Wireless. The US-based FTSE 250 science and technology developer invested $5m in the fundraising and the r
Read morePremier Oil resumes trading as E.ON deal terms amended
1st Feb 2016 08:23
(ShareCast News) - Premier Oil shares resumed trading on Monday as the terms of its deal to buy the UK North Sea assets of German power company E.ON were amended so that it no longer constitutes a reverse takeover. Back in January, Premier struck a deal to acquire the assets for a net $120m (£84m) p
Read moreTuesday broker round-up
19th Jan 2016 14:22
(ShareCast News) - Royal Dutch Shell: Cannacord Genuity lowers target from 1,775p to 1,550p and reiterates hold. Burberry Group: Liberum reiterates sell with a 925p target; RBC reiterates neutral yet trims target from 1,300p to 1,275p; UBS up target from 1,400p to 1,500p staying at buy. Tullow Oil:
Read moreBroker tips: ITV, Premier Oil, William Hill
18th Jan 2016 12:18
(ShareCast News) - HSBC has upgraded ITV from 'hold' to 'buy' and increased its target price from 275p to 305p on prospects of what it thinks will be another strong year. In a note on the European media sector issued on Monday, the investment bank said it isn't worried about a "perceived structural
Read moreCredit Suisse upgrades Premier Oil on valuation
18th Jan 2016 08:29
(ShareCast News) - Credit Suisse upgraded Premier Oil to 'neutral' from 'underperform', noting the big drop in the share price since it initiated coverage of the stock in December. In addition, the bank pointed to Premier's agreed acquisition of E.ON's UK North Sea assets. CS said the assets are ca
Read morePremier Oil to buy E.ON's North Sea assets for $120m
13th Jan 2016 14:45
(ShareCast News) - Exploration and production company Premier Oil has struck a deal to acquire E.ON's UK North Sea assets for a net $120m (£83.3m) plus working capital adjustments. The transaction, which Premier said adds immediate cash generative production and realises tax synergies on its current
Read morePremier Oil shares suspended ahead of possible M&A announcement
13th Jan 2016 08:21
(ShareCast News) - Premier Oil shares have been suspended from trading on Wednesday morning pending the announcement of a potential acquisition of assets which may be classed as a reverse takeover under the Financial Conduct Authority listing rules. As as result, the exploration and production compa
Read moreBroker tips: Centrica, BHP Billiton, Premier Oil
12th Jan 2016 12:22
(ShareCast News) - Exane BNP Paribas upgraded Centrica to 'outperform' from 'neutral', maintaining a 250p price target, saying the stock has had a tough couple of years but this is now all in the price. It noted the shares fell 20% in 2015 following a 20% drop the previous year. The group is expose
Read morePremier Oil hit by Jefferies downgrade
12th Jan 2016 10:40
(ShareCast News) - Premier Oil's shares tumbled on Tuesday after Jefferies cut its rating on the stock to 'hold' from 'buy' and slashed the target price to 33p from 120p. Jefferies said net debt is expected to rise to $2.65bn in full year 2016 and existing production assets are set to decline in 201
Read moreRockhopper and Falkland rally on oil discovery
11th Jan 2016 10:04
(ShareCast News) - Oil and gas exploration and production companies Rockhopper Exploration, Falkland Oil and Gas, and Premier Oil issued statements on Monday confirming the discovery of oil at the Isobel deep well, which is on the edge of neighbouring oilfield Elaine in Falkland Islands waters. Rock
Read morePremier Oil completes Norwegian assets disposal; sees net debt at $2.3bn
23rd Dec 2015 07:44
(ShareCast News) - Exploration and production company Premier Oil said it has completed the disposal of Premier Oil Norge AS to Det norske oljeselskap ASA for a net cash consideration of $120m and as a result, it now expects net debt to be just under $2.3bn (£1.55bn) at year end. The group said it c
Read moreUBS sees value in BG/Royal Dutch Shell, Tullow, Premier Oil
16th Dec 2015 12:19
(ShareCast News) - Going into 2016 - and despite oil prices being at around seven-year lows - UBS said it was the most optimistic in nearly two years and saw value in the shares of several companies in the space. "Although oil prices currently look unsustainably low for some operators, we can see a
Read moreFTSE 250 movers: Oil prices weigh on market
11th Dec 2015 15:25
(ShareCast News) - With only two weeks to Christmas, the FTSE 250 wasn't feeling very festive on Friday after it fell 159.12 point (0.93%) to 16,921.13 by mid-afternoon. Oil stocks weighed on the second-tier market as oil prices hit new lows on Friday. Brent hit a seven-year low at $38.84, while Wes
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