Brokerages Set Petrofac Limited (PFC) PT at $586.17
Petrofac Limited (LON:PFC) has been given a consensus recommendation of “Hold” by the fourteen analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is GBX 587.23 ($7.82).
PFC has been the topic of several research reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 590 ($7.86) target price on shares of Petrofac in a research note on Thursday, February 22nd. Morgan Stanley cut Petrofac to an “underweight” rating and set a GBX 475 ($6.32) target price on the stock. in a research note on Friday, February 23rd. Kepler Capital Markets boosted their target price on Petrofac from GBX 600 ($7.99) to GBX 660 ($8.79) and gave the company a “buy” rating in a research note on Friday, March 2nd. Numis Securities restated a “buy” rating and issued a GBX 700 ($9.32) target price on shares of Petrofac in a research note on Friday, March 2nd. Finally, Jefferies Financial Group upgraded Petrofac to a “buy” rating and set a GBX 600 ($7.99) target price on the stock in a research note on Tuesday, March 6th.
In related news, insider Sara Akbar acquired 976 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were bought at an average price of GBX 512 ($6.82) per share, for a total transaction of £4,997.12 ($6,653.07). Also, insider Ayman Asfari acquired 2,023,800 shares of the company’s stock in a transaction dated Wednesday, March 21st. The shares were bought at an average price of GBX 494 ($6.58) per share, for a total transaction of £9,997,572 ($13,310,573.83).
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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