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

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Shares of Petrofac Limited (LON:PFC) have earned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is GBX 729.38 ($9.53).

A number of equities analysts have weighed in on PFC shares. Numis Securities lifted their price objective on Petrofac from GBX 700 ($9.15) to GBX 821 ($10.73) and gave the company a “buy” rating in a research note on Thursday, August 30th. Morgan Stanley upgraded Petrofac to an “equal weight” rating and lifted their price objective for the company from GBX 650 ($8.49) to GBX 800 ($10.45) in a research note on Thursday, August 30th. Kepler Capital Markets lifted their price objective on Petrofac from GBX 660 ($8.62) to GBX 700 ($9.15) and gave the company a “hold” rating in a research note on Thursday, August 30th. Barclays lifted 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 research note on Wednesday, October 10th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Petrofac in a research note on Thursday, August 30th.

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

PFC traded up GBX 7 ($0.09) on Monday, reaching GBX 476.20 ($6.22). 2,095,006 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 ($4.51) and a fifty-two week high of GBX 941 ($12.30).

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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