Kepler Capital Markets Reaffirms Buy Rating for Petrofac (PFC)

Kepler Capital Markets reissued their buy rating on shares of Petrofac (LON:PFC) in a research report report published on Tuesday, March 20th. Kepler Capital Markets currently has a GBX 660 ($9.33) target price on the stock.

A number of other brokerages have also weighed in on PFC. Numis Securities boosted their price objective on shares of Petrofac from GBX 600 ($8.48) to GBX 700 ($9.89) and gave the stock a buy rating in a report on Monday, January 15th. Barclays restated an overweight rating and issued a GBX 600 ($8.48) price objective on shares of Petrofac in a report on Wednesday, January 17th. Jefferies Group upgraded shares of Petrofac to a buy rating and set a GBX 600 ($8.48) price objective for the company in a report on Tuesday, March 6th. Morgan Stanley lowered shares of Petrofac to an underweight rating and set a GBX 475 ($6.71) price objective for the company. in a report on Friday, February 23rd. Finally, Credit Suisse Group boosted their price objective on shares of Petrofac from GBX 435 ($6.15) to GBX 440 ($6.22) and gave the stock a neutral rating in a report on Thursday, December 14th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of GBX 540.57 ($7.64).

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LON PFC traded up GBX 1.40 ($0.02) during mid-day trading on Tuesday, reaching GBX 560 ($7.92). The stock had a trading volume of 1,698,597 shares, compared to its average volume of 3,540,000. Petrofac has a 1 year low of GBX 345.20 ($4.88) and a 1 year high of GBX 941 ($13.30).

The business also recently announced a dividend, which will be paid on Friday, May 25th. Shareholders of record on Thursday, April 26th will be given 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.

In other Petrofac news, insider Sara Akbar acquired 976 shares of the business’s stock in a transaction dated Wednesday, April 4th. The stock was purchased at an average price of GBX 512 ($7.24) per share, with a total value of £4,997.12 ($7,063.07). Also, insider Ayman Asfari acquired 2,023,800 shares of the business’s stock in a transaction dated Wednesday, March 21st. The shares were acquired at an average cost of GBX 494 ($6.98) per share, with a total value of £9,997,572 ($14,130,843.82).

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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.

Analyst Recommendations for Petrofac (LON:PFC)

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