Petrofac Limited (PFC) Receives Consensus Rating of “Buy” from Brokerages

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Shares of Petrofac Limited (LON:PFC) have been given an average rating of “Buy” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is GBX 729.38 ($9.53).

Several analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Petrofac from GBX 590 ($7.71) to GBX 680 ($8.89) and gave the company an “overweight” rating in a report on Wednesday, June 27th. Barclays boosted their price objective on Petrofac from GBX 850 ($11.11) to GBX 1,000 ($13.07) and gave the company an “overweight” rating in a report on Wednesday. Kepler Capital Markets raised Petrofac to a “buy” rating and set a GBX 660 ($8.62) target price for the company in a report on Wednesday, June 27th. Morgan Stanley lowered Petrofac to an “underweight” rating and lowered their target price for the company from GBX 720 ($9.41) to GBX 650 ($8.49) in a report on Monday, June 18th. Finally, Numis Securities upped their target price on Petrofac from GBX 700 ($9.15) to GBX 821 ($10.73) and gave the company a “buy” rating in a report on Thursday, August 30th.

In related news, insider George J. Pierson bought 757 shares of the stock in a transaction dated Tuesday, October 2nd. The stock was bought at an average cost of GBX 660 ($8.62) per share, with a total value of £4,996.20 ($6,528.42). Also, insider David Davies acquired 15,651 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was acquired at an average cost of GBX 639 ($8.35) per share, with a total value of £100,009.89 ($130,680.64).

Shares of Petrofac stock opened at GBX 617.80 ($8.07) on Friday. Petrofac has a fifty-two week low of GBX 345.20 ($4.51) and a fifty-two week high of GBX 941 ($12.30).

The business also recently announced a dividend, which will be paid on Friday, October 19th. Stockholders of record on Thursday, September 20th will be issued a dividend of $0.13 per share. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 20th.

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.

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Analyst Recommendations for Petrofac (LON:PFC)

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