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Albania oil exploration focused Bankers Petroleum shares drooped by equity research firms

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Bankers Petroleum Ltd. (TSE:BNK) is a Canada-based oil exploration and production company with a focus on petroleum assets in Albania face recent share prices drops as reported by major equities research firms.

Bankers Petroleum Ltd. (TSE:BNK) had its price objective dropped by equities research analysts at FirstEnergy Capital from C$4.00 to C$3.25 in a research note issued to investors on Friday, Market Beat Ratings reports. FirstEnergy Capital’s target price indicates a potential upside of 301.23% from the stock’s current price.

Shares of Bankers Petroleum (TSE:BNK) opened at 0.81 on Friday. The firm has a 50-day moving average price of $1.15 and a 200 day moving average price of $1.99. Bankers Petroleum has a 12-month low of $0.80 and a 12-month high of $3.83. The company has a market capitalization of $211.41 million and a P/E ratio of 3.79 writes zolmax.com

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A number of other brokerages have also issued reports on BNK. Scotiabank decreased their price target on Bankers Petroleum from C$3.00 to C$2.50 and set an “outperform” rating for the company in a research note on Wednesday, December 16th. Haywood Securities reduced their price objective on Bankers Petroleum to C$6.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 26th. Raymond James reduced their price objective on Bankers Petroleum from C$5.00 to C$3.20 and set an “outperform” rating on the stock in a report on Thursday, November 26th. Dundee Securities reduced their price objective on Bankers Petroleum from C$7.60 to C$4.50 and set a “neutral” rating on the stock in a report on Thursday, November 26th. Finally, CIBC raised their price objective on Bankers Petroleum to C$3.25 in a report on Thursday, October 8th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Bankers Petroleum presently has an average rating of “Buy” and an average target price of C$4.17.

Bankers Petroleum Ltd. (TSE:BNK) is a Canada-based oil exploration and production company with a focus on petroleum assets in Albania. The Company generates all of its oil revenue from its operations in Albania, which is located northwest of Greece in South Eastern Europe. Bankers operate and have the full rights to develop the Patos-Marinza and Kucova oilfields in Albania pursuant to License Agreements with the Albanian National Agency for Natural Resources (AKBN) and Petroleum Agreements with Albpetrol Sh.A (Albpetrol), the state-owned oil and Gas Corporation. The Patos-Marinza oilfield is an onshore oilfield in continental Europe, holding approximately 5.1 billion barrels of Oil Initially in Place (OIIP). The Company also has exclusive rights to exploration Block F (adjacent to the Patos-Marinza oilfield), a 158,000 acre oil and gas prone exploration.

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