Brokerages Set Petrofac Limited (PFC) Price Target at $729.38

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Shares of Petrofac Limited (LON:PFC) have received a consensus rating of “Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is GBX 729.38 ($9.53).

A number of analysts have commented on PFC shares. Barclays reaffirmed an “overweight” rating and set a GBX 850 ($11.11) target price (up from GBX 800 ($10.45)) on shares of Petrofac in a report on Monday, August 20th. Numis Securities upped their target price on shares of Petrofac from GBX 700 ($9.15) to GBX 821 ($10.73) and gave the company a “buy” rating in a report on Thursday, August 30th. Kepler Capital Markets upped their target price on shares of Petrofac from GBX 660 ($8.62) to GBX 700 ($9.15) and gave the company a “hold” rating in a report on Thursday, August 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Petrofac in a report on Thursday, August 30th. Finally, Morgan Stanley raised shares of Petrofac to an “equal weight” rating and upped their target price for the company from GBX 650 ($8.49) to GBX 800 ($10.45) in a report on Thursday, August 30th.

PFC stock traded up GBX 7.80 ($0.10) during midday trading on Friday, reaching GBX 594.40 ($7.77). 1,934,826 shares of the company’s stock traded hands, compared to its average volume of 3,540,000. Petrofac has a 52-week low of GBX 345.20 ($4.51) and a 52-week high of GBX 941 ($12.30).

The company also recently disclosed a dividend, which will be paid on Friday, October 19th. Stockholders of record on Thursday, September 20th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 20th. This represents a dividend yield of 1.5%.

In other news, insider David Davies acquired 15,651 shares of Petrofac stock in a transaction dated Tuesday, September 18th. The stock was purchased at an average cost of GBX 639 ($8.35) per share, with a total value of £100,009.89 ($130,680.64). Also, insider George J. Pierson acquired 757 shares of Petrofac stock in a transaction dated Tuesday, October 2nd. The stock was purchased at an average cost of GBX 660 ($8.62) per share, with a total value of £4,996.20 ($6,528.42).

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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