Petrofac (PFC) PT Lowered to GBX 761

Petrofac (LON:PFC) had its price objective reduced by Numis Securities from GBX 821 ($10.73) to GBX 761 ($9.94) in a research note published on Wednesday, ThisIsMoney.Co.Uk reports. Numis Securities currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on PFC. HSBC assumed coverage on shares of Petrofac in a research note on Tuesday, January 22nd. They issued a buy rating and a GBX 665 ($8.69) price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Petrofac from GBX 680 ($8.89) to GBX 660 ($8.62) and set an overweight rating on the stock in a research note on Friday, January 11th. Morgan Stanley raised shares of Petrofac to an overweight rating in a research note on Wednesday, January 16th. Barclays reaffirmed an overweight rating on shares of Petrofac in a research note on Wednesday, January 16th. Finally, Jefferies Financial Group raised shares of Petrofac to a buy rating and decreased their target price for the stock from GBX 640 ($8.36) to GBX 590 ($7.71) in a research note on Monday, January 7th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Petrofac has a consensus rating of Buy and an average target price of GBX 616.83 ($8.06).

LON:PFC traded down GBX 3.30 ($0.04) during mid-day trading on Wednesday, reaching GBX 433.60 ($5.67). The stock had a trading volume of 3,184,909 shares, 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. The company has a debt-to-equity ratio of 107.73, a current ratio of 1.14 and a quick ratio of 1.02. Petrofac has a 12 month low of GBX 376.40 ($4.92) and a 12 month high of GBX 679 ($8.87).

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

In related news, insider Ayman Asfari bought 105,750 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were purchased 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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