Shares of Petrofac Limited (LON:PFC) have earned an average recommendation of “Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is GBX 578 ($7.55).
A number of equities analysts have recently issued reports on PFC shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Petrofac in a research report on Tuesday, April 9th. Numis Securities reaffirmed a “buy” rating and set a GBX 761 ($9.94) price target on shares of Petrofac in a research report on Monday, March 4th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 500 ($6.53) price target on shares of Petrofac in a research report on Tuesday. Goldman Sachs Group downgraded Petrofac to a “neutral” rating and reduced their price target for the stock from GBX 674 ($8.81) to GBX 546 ($7.13) in a research report on Tuesday, March 26th. Finally, Credit Suisse Group upped their price target on Petrofac from GBX 460 ($6.01) to GBX 539 ($7.04) and gave the stock a “neutral” rating in a research report on Thursday, May 9th.
In other news, insider Alastair Cochran bought 3,029 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were purchased at an average cost of GBX 410 ($5.36) per share, with a total value of £12,418.90 ($16,227.49).
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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