Petrofac (LON:PFC) insider Ayman Asfari acquired 2,023,800 shares of the business’s stock in a transaction dated Wednesday, March 21st. The shares were bought at an average cost of GBX 494 ($6.83) per share, for a total transaction of £9,997,572 ($13,812,616.74).

Petrofac stock opened at GBX 506.20 ($6.99) on Thursday. The company has a market cap of $1,620.00 and a price-to-earnings ratio of -8,436.67. Petrofac has a 12 month low of GBX 345.20 ($4.77) and a 12 month high of GBX 941 ($13.00).

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The business also recently disclosed a dividend, which will be paid on Friday, May 25th. Shareholders of record on Thursday, April 26th will be paid a $0.25 dividend. This represents a yield of 4.3%. The ex-dividend date is Thursday, April 26th. This is an increase from Petrofac’s previous dividend of $0.13.

A number of analysts have recently weighed in on PFC shares. Numis Securities upped their price objective on Petrofac from GBX 600 ($8.29) to GBX 700 ($9.67) and gave the stock a “buy” rating in a research report on Monday, January 15th. Barclays reiterated an “overweight” rating and set a GBX 600 ($8.29) target price on shares of Petrofac in a research note on Wednesday, January 17th. Jefferies Group upgraded shares of Petrofac to a “buy” rating and set a GBX 600 ($8.29) target price for the company in a research note on Tuesday, March 6th. Kepler Capital Markets reiterated a “buy” rating and set a GBX 600 ($8.29) target price on shares of Petrofac in a research note on Friday, January 19th. Finally, Morgan Stanley downgraded shares of Petrofac to an “underweight” rating and set a GBX 475 ($6.56) target price for the company. in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Petrofac currently has a consensus rating of “Hold” and a consensus price target of GBX 540.57 ($7.47).

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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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