Petrofac Limited (LON:PFC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Petrofac Limited (LON:PFC) have received a consensus rating of “Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is GBX 578 ($7.55).

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Petrofac in a report on Tuesday, April 9th. Berenberg Bank assumed coverage on Petrofac in a report on Tuesday, February 26th. They issued a “hold” rating and a GBX 500 ($6.53) target price on the stock. Barclays reaffirmed an “overweight” rating on shares of Petrofac in a report on Thursday, April 11th. Credit Suisse Group lifted their target price on Petrofac from GBX 460 ($6.01) to GBX 539 ($7.04) and gave the stock a “neutral” rating in a report on Thursday, May 9th. Finally, Goldman Sachs Group cut Petrofac to a “neutral” rating and reduced their target price for the stock from GBX 674 ($8.81) to GBX 546 ($7.13) in a report on Tuesday, March 26th.

In related news, insider Alastair Cochran acquired 3,029 shares of Petrofac stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of GBX 410 ($5.36) per share, with a total value of £12,418.90 ($16,227.49).

Shares of PFC stock traded up GBX 60.20 ($0.79) during trading hours on Friday, hitting GBX 465.20 ($6.08). The stock had a trading volume of 7,348,140 shares, compared to its average volume of 3,540,000. Petrofac has a one year low of GBX 376.40 ($4.92) and a one year high of GBX 679 ($8.87). The company has a quick ratio of 1.02, a current ratio of 1.14 and a debt-to-equity ratio of 107.73. The business has a 50-day simple moving average of GBX 420.42. The stock has a market capitalization of $1.57 billion and a PE ratio of 25.01.

Petrofac Company Profile

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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Analyst Recommendations for Petrofac (LON:PFC)

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