Petrofac (LON:PFC) Stock Passes Above Two Hundred Day Moving Average of $436.68
Petrofac Limited (LON:PFC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $436.68 and traded as high as $428.20. Petrofac shares last traded at $426.60, with a volume of 1,234,498 shares.
Several brokerages recently commented on PFC. Berenberg Bank reaffirmed a “hold” rating and set a GBX 500 ($6.53) price objective on shares of Petrofac in a research note on Tuesday, June 25th. JPMorgan Chase & Co. dropped their price objective on Petrofac from GBX 500 ($6.53) to GBX 460 ($6.01) and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Barclays reaffirmed an “overweight” rating and set a GBX 670 ($8.75) price objective on shares of Petrofac in a research note on Wednesday, September 11th. Kepler Capital Markets reaffirmed a “buy” rating on shares of Petrofac in a research note on Monday, September 9th. Finally, Royal Bank of Canada reissued a “sector performer” rating on shares of Petrofac in a research note on Thursday, September 12th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Petrofac currently has a consensus rating of “Buy” and a consensus price target of GBX 597.36 ($7.81).
The company has a 50 day simple moving average of GBX 409.42 and a 200-day simple moving average of GBX 436.68. The stock has a market cap of $1.46 billion and a price-to-earnings ratio of 6.72. The company has a current ratio of 1.23, a quick ratio of 1.22 and a debt-to-equity ratio of 87.25.
In other news, insider Andrea Abt purchased 1,141 shares of the company’s stock in a transaction on Monday, July 1st. The shares were purchased at an average price 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.
Further Reading: What does the Producer Price Index (PPI) tell investors?
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