Petrofac Limited (PFC) Given Consensus Recommendation of “Buy” by Brokerages

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

Several research firms have recently issued reports on PFC. Barclays upped their price objective on Petrofac from GBX 850 ($11.11) to GBX 1,000 ($13.07) and gave the stock an “overweight” rating in a research report on Wednesday, October 10th. Kepler Capital Markets upped their price objective on Petrofac from GBX 660 ($8.62) to GBX 700 ($9.15) and gave the stock a “hold” rating in a research report on Thursday, August 30th. Morgan Stanley raised Petrofac to an “equal weight” rating and upped their price objective for the stock from GBX 650 ($8.49) to GBX 800 ($10.45) in a research report on Thursday, August 30th. Numis Securities upped their price objective on Petrofac from GBX 700 ($9.15) to GBX 821 ($10.73) and gave the stock a “buy” rating in a research report on Thursday, August 30th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Petrofac in a research report on Thursday, August 30th.

In other news, insider George J. Pierson bought 757 shares of Petrofac stock in a transaction dated Tuesday, October 2nd. The stock was acquired at an average cost of GBX 660 ($8.62) per share, with a total value of £4,996.20 ($6,528.42). Also, insider Alastair Cochran sold 7,478 shares of the business’s stock in a transaction dated Monday, October 8th. The shares were sold at an average price of GBX 631 ($8.25), for a total value of £47,186.18 ($61,657.10).

LON:PFC opened at GBX 508.80 ($6.65) on Monday. Petrofac has a 1 year low of GBX 345.20 ($4.51) and a 1 year 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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