Petrofac (LON:PFC) had its price target reduced by Credit Suisse Group from GBX 390 ($5.13) to GBX 200 ($2.63) in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price target points to a potential downside of 6.28% from the company’s previous close.
A number of other analysts also recently weighed in on the stock. Barclays reduced their target price on shares of Petrofac from GBX 570 ($7.50) to GBX 370 ($4.87) and set an “overweight” rating on the stock in a report on Friday, March 20th. Berenberg Bank upped their price target on shares of Petrofac from GBX 420 ($5.52) to GBX 440 ($5.79) and gave the company a “hold” rating in a report on Wednesday, February 26th. UBS Group reiterated a “neutral” rating on shares of Petrofac in a report on Friday, February 21st. Jefferies Financial Group downgraded shares of Petrofac to a “hold” rating and cut their price target for the company from GBX 500 ($6.58) to GBX 430 ($5.66) in a report on Monday, December 9th. Finally, Oddo Securities cut their price target on shares of Petrofac from GBX 400 ($5.26) to GBX 383 ($5.04) and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of GBX 437.86 ($5.76).
Shares of Petrofac stock traded up GBX 6.70 ($0.09) during trading hours on Thursday, reaching GBX 213.40 ($2.81). The company’s stock had a trading volume of 3,669,139 shares, compared to its average volume of 3,540,000. The firm has a 50 day moving average price of GBX 288.46 and a 200-day moving average price of GBX 367.21. Petrofac has a one year low of GBX 150 ($1.97) and a one year high of GBX 530 ($6.97). The company has a debt-to-equity ratio of 158.64, a current ratio of 1.26 and a quick ratio of 1.01. The stock has a market cap of $738.18 million and a P/E ratio of 10.02.
In related news, insider George J. Pierson acquired 1,270 shares of the stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of GBX 394 ($5.18) per share, with a total value of £5,003.80 ($6,582.22).
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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