Zacks Investment Research lowered shares of Petrofac Ltd (NASDAQ:POFCY) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Petrofac Limited is an oilfield service company serving the oil and gas production and processing industry. It operates in four segments: Onshore Engineering & Construction, Offshore Projects & Operations, Engineering & Consulting Services and Integrated Energy Services. The company has operations primarily in the United Arab Emirates, the United Kingdom, Turkmenistan, Malaysia, Algeria, Kuwait, Qatar and other countries. Petrofac Limited is based in St Helier, the Channel Islands. “

Shares of Petrofac (NASDAQ:POFCY) traded up 0.95% during mid-day trading on Tuesday, hitting $5.30. The stock had a trading volume of 1,256 shares. Petrofac has a one year low of $4.45 and a one year high of $7.25. The firm’s 50 day moving average price is $5.40 and its 200-day moving average price is $5.66. The company’s market cap is $3.60 billion.

About Petrofac

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