Zacks Investment Research Downgrades Petrofac Ltd (POFCY) to Sell
Petrofac Ltd (NASDAQ:POFCY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.
According to Zacks, “Petrofac Limited is an oilfield service company serving the oil and gas production and processing industry. It operates in four segments: Onshore Engineering & Construction, Offshore Projects & Operations, Engineering & Consulting Services and Integrated Energy Services. The company has operations primarily in the United Arab Emirates, the United Kingdom, Turkmenistan, Malaysia, Algeria, Kuwait, Qatar and other countries. Petrofac Limited is based in St Helier, the Channel Islands. “
Shares of Petrofac (NASDAQ:POFCY) opened at 2.63 on Friday. Petrofac has a 1-year low of $2.20 and a 1-year high of $5.93. The company has a market capitalization of $1.79 billion and a price-to-earnings ratio of 1753.33. The stock’s 50 day moving average price is $3.70 and its 200 day moving average price is $5.05.
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