Petrofac’s (PFC) Buy Rating Reaffirmed at Kepler Capital Markets
A number of other analysts also recently weighed in on PFC. Numis Securities increased their target price on shares of Petrofac from GBX 600 ($8.14) to GBX 700 ($9.50) and gave the company a buy rating in a research report on Monday, January 15th. Barclays reissued an overweight rating and set a GBX 600 ($8.14) target price on shares of Petrofac in a research report on Wednesday, January 17th. Goldman Sachs increased their target price on shares of Petrofac from GBX 575 ($7.80) to GBX 648 ($8.79) and gave the company a buy rating in a research report on Thursday, February 1st. JPMorgan Chase increased their target price on shares of Petrofac from GBX 560 ($7.60) to GBX 590 ($8.00) and gave the company an overweight rating in a research report on Friday, February 2nd. Finally, Morgan Stanley downgraded shares of Petrofac to an underweight rating and set a GBX 475 ($6.44) target price for the company. in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Petrofac presently has an average rating of Hold and an average target price of GBX 571.36 ($7.75).
LON:PFC opened at GBX 649 ($8.80) on Monday. Petrofac has a fifty-two week low of GBX 345.20 ($4.68) and a fifty-two week high of GBX 941 ($12.76).
In other news, insider Sara Akbar bought 976 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The shares were bought at an average cost of GBX 512 ($6.95) per share, for a total transaction of £4,997.12 ($6,778.51). Also, insider Ayman Asfari bought 2,023,800 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was purchased at an average price of GBX 494 ($6.70) per share, for a total transaction of £9,997,572 ($13,561,546.39).
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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