Canaccord Genuity upgraded shares of Petrofac (LON:PFC) to a buy rating in a report released on Wednesday, Digital Look reports. Canaccord Genuity currently has GBX 500 ($6.53) target price on the stock, down from their prior target price of GBX 600 ($7.84).
A number of other analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Petrofac from GBX 500 ($6.53) to GBX 460 ($6.01) and set a neutral rating on the stock in a research report on Thursday, August 15th. Kepler Capital Markets restated a buy rating on shares of Petrofac in a research report on Monday, September 9th. Barclays restated an overweight rating and set a GBX 670 ($8.75) price target on shares of Petrofac in a research report on Tuesday, October 1st. Morgan Stanley downgraded shares of Petrofac to an equal weight rating and dropped their price target for the stock from GBX 500 ($6.53) to GBX 480 ($6.27) in a research report on Monday, October 28th. Finally, Royal Bank of Canada restated a sector performer rating on shares of Petrofac in a research report on Thursday, September 12th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Petrofac currently has a consensus rating of Hold and a consensus target price of GBX 580.85 ($7.59).
LON:PFC traded up GBX 5.80 ($0.08) during mid-day trading on Wednesday, hitting GBX 409.40 ($5.35). The stock had a trading volume of 1,008,075 shares, compared to its average volume of 3,540,000. The stock has a market capitalization of $1.42 billion and a price-to-earnings ratio of 6.46. The company has a 50 day simple moving average of GBX 398.39 and a 200-day simple moving average of GBX 414.60. Petrofac has a 52 week low of GBX 373.87 ($4.89) and a 52 week high of GBX 562 ($7.34). The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 133.90.
The business also recently disclosed a dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 19th were given a dividend of $0.13 per share. This represents a yield of 2.53%. The ex-dividend date of this dividend was Thursday, September 19th. Petrofac’s payout ratio is presently 0.47%.
In related news, insider Alastair Cochran sold 7,957 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of GBX 383 ($5.00), for a total transaction of £30,475.31 ($39,821.39). Also, insider Andrea Abt acquired 1,271 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average cost of GBX 393 ($5.14) per share, for a total transaction of £4,995.03 ($6,526.89).
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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