Brokerages Set Petrofac Limited (PFC) Price Target at $593.67

Petrofac Limited (LON:PFC) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is GBX 614 ($8.17).

PFC has been the subject of a number of research reports. Kepler Capital Markets downgraded Petrofac to a “hold” rating and set a GBX 660 ($8.79) price target for the company. in a research report on Thursday, May 17th. Credit Suisse Group boosted their price target on Petrofac from GBX 460 ($6.12) to GBX 570 ($7.59) and gave the company a “neutral” rating in a research report on Thursday, May 17th. Jefferies Financial Group boosted their price target on Petrofac from GBX 600 ($7.99) to GBX 670 ($8.92) and gave the company a “buy” rating in a research report on Sunday, April 22nd. JPMorgan Chase & Co. boosted their price target on Petrofac from GBX 590 ($7.86) to GBX 680 ($9.05) and gave the company an “overweight” rating in a research report on Wednesday, June 27th. Finally, Morgan Stanley downgraded Petrofac to an “underweight” rating and lowered their price target for the company from GBX 720 ($9.59) to GBX 650 ($8.65) in a research report on Monday, June 18th.

PFC stock traded up GBX 10 ($0.13) during trading on Friday, reaching GBX 566.40 ($7.54). 1,772,319 shares of the stock traded hands, compared to its average volume of 3,540,000. Petrofac has a 52-week low of GBX 345.20 ($4.60) and a 52-week high of GBX 941 ($12.53).

In related news, insider George J. Pierson acquired 858 shares of Petrofac stock in a transaction on Tuesday, July 3rd. The shares were bought at an average price of GBX 582 ($7.75) per share, for a total transaction of £4,993.56 ($6,648.33).

About Petrofac

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.

Analyst Recommendations for Petrofac (LON:PFC)

Receive News & Ratings for Petrofac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petrofac and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply