BNP Paribas Reiterates “Neutral” Rating for Petrofac Limited (PFC)
Petrofac Limited (LON:PFC)‘s stock had its “neutral” rating reiterated by BNP Paribas in a report released on Monday. They presently have a GBX 840 ($10.37) price target on the stock. BNP Paribas’ price target would suggest a potential downside of 8.20% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the stock. Jefferies Group LLC cut their price target on shares of Petrofac Limited from GBX 916 ($11.31) to GBX 835 ($10.31) and set a “hold” rating for the company in a report on Tuesday, February 28th. Canaccord Genuity upped their price target on shares of Petrofac Limited from GBX 925 ($11.42) to GBX 950 ($11.73) and gave the company a “hold” rating in a report on Thursday, February 23rd. Morgan Stanley upped their price target on shares of Petrofac Limited from GBX 820 ($10.13) to GBX 900 ($11.12) and gave the company an “underweight” rating in a report on Thursday, February 23rd. Credit Suisse Group AG upped their price target on shares of Petrofac Limited from GBX 1,100 ($13.59) to GBX 1,125 ($13.89) and gave the company an “outperform” rating in a report on Thursday, February 23rd. Finally, Barclays PLC reissued an “overweight” rating and issued a GBX 1,250 ($15.44) price target on shares of Petrofac Limited in a report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of GBX 991.25 ($12.24).
Shares of Petrofac Limited (LON:PFC) traded up 0.38% during trading on Monday, hitting GBX 915.00. 1,005,466 shares of the stock traded hands. The firm’s market cap is GBX 3.11 billion. The company’s 50 day moving average is GBX 900.26 and its 200 day moving average is GBX 869.58. Petrofac Limited has a 52-week low of GBX 635.00 and a 52-week high of GBX 978.50.
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The business also recently declared a dividend, which will be paid on Friday, May 19th. Shareholders of record on Thursday, April 20th will be issued a dividend of GBX 0.44 ($0.01) per share. This represents a yield of 3.89%. The ex-dividend date is Thursday, April 20th. This is an increase from Petrofac Limited’s previous dividend of $0.22.
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About Petrofac Limited
Petrofac Limited is a service provider to the oil and gas production and processing industry. The Company designs and builds oil and gas facilities; operates, maintains and manages facilities and trains personnel; enhances production, and develops and co-invests in upstream and infrastructure projects.
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