Petrofac Limited (LON:PFC) Insider Ayman Asfari Buys 105,750 Shares

Petrofac Limited (LON:PFC) insider Ayman Asfari bought 105,750 shares of Petrofac stock in a transaction dated Tuesday, March 26th. The stock was purchased at an average price of GBX 470 ($6.14) per share, with a total value of £497,025 ($649,451.20).

LON:PFC traded down GBX 56.40 ($0.74) on Friday, reaching GBX 467.40 ($6.11). The company’s stock had a trading volume of 6,546,729 shares, compared to its average volume of 3,540,000. Petrofac Limited has a 12-month low of GBX 376.40 ($4.92) and a 12-month high of GBX 679 ($8.87). The company has a quick ratio of 1.02, a current ratio of 1.14 and a debt-to-equity ratio of 107.73. The company has a market capitalization of $1.57 billion and a P/E ratio of 25.13.

The company also recently disclosed a dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a $0.25 dividend. The ex-dividend date is Thursday, April 25th. This is a boost from Petrofac’s previous dividend of $0.13. This represents a dividend yield of 4.66%. Petrofac’s payout ratio is presently 1.56%.

Several research firms have recently issued reports on PFC. Jefferies Financial Group reiterated a “buy” rating on shares of Petrofac in a research note on Tuesday, April 9th. Barclays reissued an “overweight” rating on shares of Petrofac in a research report on Thursday, April 11th. Goldman Sachs Group lowered Petrofac to a “neutral” rating and lowered their price objective for the company from GBX 674 ($8.81) to GBX 546 ($7.13) in a research report on Tuesday, March 26th. Berenberg Bank began coverage on Petrofac in a research report on Tuesday, February 26th. They issued a “hold” rating and a GBX 500 ($6.53) price target for the company. Finally, Sanford C. Bernstein raised Petrofac to a “market perform” rating and lowered their price target for the stock from GBX 500 ($6.53) to GBX 480 ($6.27) in a research report on Tuesday, January 8th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of GBX 616.83 ($8.06).

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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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