Petrofac Limited (LON:PFC) Receives GBX 595.11 Average PT from Analysts

Shares of Petrofac Limited (LON:PFC) have been given an average rating of “Buy” by the twelve ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is GBX 590.67 ($7.72).

Several research firms recently commented on PFC. Berenberg Bank restated a “hold” rating and issued a GBX 500 ($6.53) price target on shares of Petrofac in a research note on Tuesday, June 25th. Credit Suisse Group upped their price objective on shares of Petrofac from GBX 460 ($6.01) to GBX 539 ($7.04) and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Royal Bank of Canada raised shares of Petrofac to a “sector performer” rating and upped their price objective for the stock from GBX 400 ($5.23) to GBX 640 ($8.36) in a research report on Thursday, July 18th. Barclays reaffirmed an “overweight” rating and set a GBX 670 ($8.75) price objective on shares of Petrofac in a research report on Thursday, July 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Petrofac from GBX 500 ($6.53) to GBX 460 ($6.01) and set a “neutral” rating for the company in a research report on Thursday.

Shares of PFC stock traded up GBX 2 ($0.03) on Friday, hitting GBX 389.50 ($5.09). The company’s stock had a trading volume of 2,242,535 shares, compared to its average volume of 3,540,000. The company has a debt-to-equity ratio of 107.73, a current ratio of 1.14 and a quick ratio of 1.02. The business has a 50 day simple moving average of GBX 413.11. Petrofac has a fifty-two week low of GBX 376.40 ($4.92) and a fifty-two week high of GBX 679 ($8.87). The company has a market cap of $1.35 billion and a P/E ratio of 20.94.

In related news, insider Andrea Abt bought 1,141 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was purchased at an average price of GBX 438 ($5.72) per share, with a total value of £4,997.58 ($6,530.22). Also, insider Alastair Cochran bought 3,029 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average cost of GBX 410 ($5.36) per share, with a total value of £12,418.90 ($16,227.49).

About Petrofac

Petrofac Limited, an oilfield service company, provides facilities solutions to the oil and gas production and processing industry worldwide. It operates through three segments: Engineering & Construction, Engineering & Production Services, and Integrated Energy Services. The Engineering & Construction segment provides engineering, procurement, and construction project execution services to the onshore oil and gas industry.

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Analyst Recommendations for Petrofac (LON:PFC)

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