Petrofac’s (PFC) “Overweight” Rating Reiterated at Barclays

Petrofac (LON:PFC)‘s stock had its “overweight” rating reissued by research analysts at Barclays in a research report issued on Thursday, April 11th, ThisIsMoney.Co.Uk reports.

PFC has been the subject of a number of other reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Petrofac in a research note on Thursday, January 24th. HSBC reaffirmed a “buy” rating on shares of Petrofac in a research note on Friday, February 1st. Goldman Sachs Group cut Petrofac to a “neutral” rating and decreased their price objective for the stock from GBX 674 ($8.81) to GBX 546 ($7.13) in a research note on Tuesday, March 26th. Berenberg Bank assumed coverage on Petrofac in a research note on Tuesday, February 26th. They set a “hold” rating and a GBX 500 ($6.53) price objective for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 590 ($7.71) price objective on shares of Petrofac in a research note on Thursday, February 28th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of GBX 616.83 ($8.06).

PFC stock traded down GBX 3.30 ($0.04) during midday trading on Thursday, reaching GBX 433.60 ($5.67). 3,184,909 shares of the company’s stock traded hands, compared to its average volume of 3,540,000. The stock has a market capitalization of $1.46 billion and a price-to-earnings ratio of 23.31. Petrofac has a 1-year low of GBX 376.40 ($4.92) and a 1-year high of GBX 679 ($8.87). The company has a debt-to-equity ratio of 107.73, a current ratio of 1.14 and a quick ratio of 1.02.

In related news, insider Ayman Asfari bought 105,750 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were acquired at an average price of GBX 470 ($6.14) per share, with a total value of £497,025 ($649,451.20).

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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