Petrofac (LON:PFC) Shares Pass Above 200-Day Moving Average of $438.12

Petrofac Limited (LON:PFC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $438.12 and traded as high as $404.00. Petrofac shares last traded at $404.00, with a volume of 980,472 shares.

A number of research firms have recently commented on PFC. Royal Bank of Canada upgraded shares of Petrofac to a “sector performer” rating and upped their price target for the stock from GBX 400 ($5.23) to GBX 640 ($8.36) in a report on Thursday, July 18th. Credit Suisse Group raised their price target on shares of Petrofac from GBX 460 ($6.01) to GBX 539 ($7.04) and gave the company a “neutral” rating in a report on Thursday, May 9th. Barclays reaffirmed an “overweight” rating and issued a GBX 670 ($8.75) price objective on shares of Petrofac in a research report on Thursday, July 4th. JPMorgan Chase & Co. decreased their price objective on shares of Petrofac from GBX 500 ($6.53) to GBX 460 ($6.01) and set a “neutral” rating for the company in a research report on Thursday, August 15th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 500 ($6.53) price objective on shares of Petrofac in a research report on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 614.25 ($8.03).

The stock has a market capitalization of $1.40 billion and a PE ratio of 21.72. The company has a current ratio of 1.14, a quick ratio of 1.02 and a debt-to-equity ratio of 107.73. The company’s 50-day moving average is GBX 407.05 and its 200 day moving average is GBX 438.12.

In related news, insider Alastair Cochran acquired 3,029 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average cost of GBX 410 ($5.36) per share, with a total value of £12,418.90 ($16,227.49). Also, insider Andrea Abt acquired 1,141 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was bought at an average cost of GBX 438 ($5.72) per share, with a total value of £4,997.58 ($6,530.22).

Petrofac Company Profile (LON:PFC)

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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