Shares of Petrofac Limited (LON:PFC) have received an average rating of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is GBX 614 ($8.17).
PFC has been the subject of several research reports. Kepler Capital Markets reaffirmed a “buy” rating and set a GBX 660 ($8.79) price objective on shares of Petrofac in a report on Tuesday, March 20th. Goldman Sachs Group lifted their price objective on Petrofac from GBX 646 ($8.60) to GBX 674 ($8.97) and gave the stock a “buy” rating in a report on Monday, April 23rd. Jefferies Financial Group lifted their price objective on Petrofac from GBX 600 ($7.99) to GBX 670 ($8.92) and gave the stock a “buy” rating in a report on Sunday, April 22nd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 680 ($9.05) price objective on shares of Petrofac in a report on Wednesday, May 2nd. Finally, Morgan Stanley lifted their price objective on Petrofac from GBX 475 ($6.32) to GBX 720 ($9.59) and gave the stock an “underweight” rating in a report on Wednesday, May 16th.
Petrofac traded up GBX 10 ($0.13), hitting GBX 566.40 ($7.54), during midday trading on Friday, Marketbeat.com reports. 1,772,319 shares of the stock were exchanged, compared to its average volume of 3,540,000. Petrofac has a fifty-two week low of GBX 345.20 ($4.60) and a fifty-two week high of GBX 941 ($12.53).
In related news, insider George J. Pierson purchased 858 shares of the company’s stock in a transaction on Tuesday, July 3rd. The stock was bought at an average price of GBX 582 ($7.75) per share, with a total value of £4,993.56 ($6,648.33).
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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