Analysts Set Petrofac Limited (LON:PFC) Price Target at GBX 595.11
Shares of Petrofac Limited (LON:PFC) have earned a consensus rating of “Buy” from the twelve analysts that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is GBX 590.67 ($7.72).
Several equities analysts have recently weighed in on the company. Royal Bank of Canada upgraded Petrofac to a “sector performer” rating and raised their price target for the company from GBX 400 ($5.23) to GBX 640 ($8.36) in a report on Thursday, July 18th. Berenberg Bank restated a “hold” rating and set a GBX 500 ($6.53) price target on shares of Petrofac in a report on Tuesday, June 25th. Barclays restated an “overweight” rating and set a GBX 670 ($8.75) price target on shares of Petrofac in a report on Thursday, July 4th. JPMorgan Chase & Co. reduced their price target on Petrofac from GBX 500 ($6.53) to GBX 460 ($6.01) and set a “neutral” rating for the company in a report on Thursday. Finally, Numis Securities reduced their price target on Petrofac from GBX 821 ($10.73) to GBX 761 ($9.94) and set a “buy” rating for the company in a report on Wednesday, May 1st.
In other Petrofac news, insider Andrea Abt acquired 1,141 shares of Petrofac 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, for a total transaction of £4,997.58 ($6,530.22). Also, insider Alastair Cochran acquired 3,029 shares of Petrofac stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average price of GBX 410 ($5.36) per share, with a total value of £12,418.90 ($16,227.49).
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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