Kepler Capital Markets Downgrades Petrofac (PFC) to Hold

Kepler Capital Markets lowered shares of Petrofac (LON:PFC) to a hold rating in a research report released on Thursday. They currently have GBX 660 ($8.95) price target on the stock.

Other analysts have also recently issued research reports about the stock. Goldman Sachs boosted their price objective on shares of Petrofac from GBX 575 ($7.80) to GBX 648 ($8.79) and gave the stock a buy rating in a research note on Thursday, February 1st. Jefferies Group raised shares of Petrofac to a buy rating and set a GBX 600 ($8.14) price objective on the stock in a research note on Tuesday, March 6th. Numis Securities reissued a buy rating and issued a GBX 700 ($9.50) price objective on shares of Petrofac in a research note on Friday, March 2nd. Credit Suisse Group boosted their price objective on shares of Petrofac from GBX 460 ($6.24) to GBX 570 ($7.73) and gave the stock a neutral rating in a research note on Thursday. Finally, JPMorgan Chase reissued an overweight rating and issued a GBX 590 ($8.00) price objective on shares of Petrofac in a research note on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Petrofac has a consensus rating of Hold and an average target price of GBX 579.21 ($7.86).

Shares of Petrofac opened at GBX 601 ($8.15) on Thursday, Marketbeat.com reports. Petrofac has a twelve month low of GBX 345.20 ($4.68) and a twelve month high of GBX 941 ($12.76).

The company also recently announced a dividend, which will be paid on Friday, May 25th. Investors of record on Thursday, April 26th will be issued a $0.25 dividend. This is a positive change from Petrofac’s previous dividend of $0.13. The ex-dividend date of this dividend is Thursday, April 26th. This represents a yield of 4.3%.

In other news, insider Ayman Asfari bought 2,023,800 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The shares were acquired at an average price of GBX 494 ($6.70) per share, for a total transaction of £9,997,572 ($13,561,546.39). Also, insider Sara Akbar bought 976 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was purchased at an average price of GBX 512 ($6.95) per share, for a total transaction of £4,997.12 ($6,778.51).

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.

Analyst Recommendations for Petrofac (LON:PFC)

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