Petrofac Limited’s (PFC) Outperform Rating Reaffirmed at Credit Suisse Group AG
Petrofac Limited (LON:PFC)‘s stock had its “outperform” rating reissued by Credit Suisse Group AG in a research report issued to clients and investors on Friday. They currently have a GBX 1,100 ($14.36) price objective on the stock. Credit Suisse Group AG’s price target points to a potential upside of 17.65% from the stock’s current price.
A number of other analysts also recently issued reports on PFC. Societe Generale reiterated a “buy” rating and issued a GBX 921 ($12.02) price objective on shares of Petrofac Limited in a report on Wednesday, June 29th. JPMorgan Chase & Co. lowered their price objective on shares of Petrofac Limited from GBX 944 ($12.32) to GBX 913 ($11.92) and set an “overweight” rating on the stock in a report on Thursday, June 16th. Jefferies Group downgraded shares of Petrofac Limited to a “hold” rating and lowered their price objective for the company from GBX 835 ($10.90) to GBX 800 ($10.44) in a report on Thursday, September 15th. Morgan Stanley lifted their price objective on shares of Petrofac Limited from GBX 700 ($9.14) to GBX 785 ($10.25) and gave the company an “underweight” rating in a report on Wednesday, August 31st. Finally, BNP Paribas reiterated a “neutral” rating and issued a GBX 830 ($10.83) price objective on shares of Petrofac Limited in a report on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. Petrofac Limited currently has a consensus rating of “Hold” and an average price target of GBX 955.70 ($12.47).
Petrofac Limited (LON:PFC) traded up 2.63% during trading on Friday, reaching GBX 935.00. 2,584,408 shares of the company traded hands. The company’s 50-day moving average is GBX 853.15 and its 200 day moving average is GBX 819.55. Petrofac Limited has a 12 month low of GBX 635.00 and a 12 month high of GBX 1,016.09. The company’s market cap is GBX 3.18 billion.
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The business also recently declared a dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 22nd will be paid a GBX 0.22 ($0.00) dividend. This represents a yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 22nd.
About Petrofac Limited
Petrofac Limited is an international service provider to the oil and gas production and processing industry. The Company designs, builds, operates and maintains oil and gas facilities, delivered through a range of commercial models, enabling it to respond to the distinct needs of each client and enabling them to manage their assets across the oil and gas life cycle.
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