Petrofac (LON:PFC) Stock Passes Above Two Hundred Day Moving Average of $0.00

Petrofac Limited (LON:PFC) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $409.20. Petrofac shares last traded at $399.50, with a volume of 1,478,120 shares traded.

Several research firms have weighed in on PFC. Jefferies Financial Group reiterated a “buy” rating on shares of Petrofac in a research report on Tuesday, April 9th. Numis Securities decreased their price target on shares of Petrofac from GBX 821 ($10.73) to GBX 761 ($9.94) and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Royal Bank of Canada upgraded shares of Petrofac to a “sector performer” rating and increased their price target for the stock from GBX 400 ($5.23) to GBX 640 ($8.36) in a research report on Thursday, July 18th. Credit Suisse Group raised their price objective on shares of Petrofac from GBX 460 ($6.01) to GBX 539 ($7.04) and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, Berenberg Bank restated a “hold” rating and set a GBX 500 ($6.53) price objective on shares of Petrofac in a research report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of GBX 617.58 ($8.07).

The stock has a market cap of $1.38 billion and a PE ratio of 21.48. The firm’s 50-day simple moving average is GBX 421.10. 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 Alastair Cochran purchased 3,029 shares of Petrofac stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of GBX 410 ($5.36) per share, for a total transaction of £12,418.90 ($16,227.49). Also, insider Andrea Abt purchased 1,141 shares of Petrofac stock in a transaction on Monday, July 1st. The stock was bought at an average price of GBX 438 ($5.72) per share, for a total transaction of £4,997.58 ($6,530.22).

Petrofac Company Profile (LON:PFC)

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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