Petrofac Limited (LON:PFC) has earned an average rating of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is GBX 606.50 ($7.92).
PFC has been the subject of a number of recent analyst reports. HSBC reissued a “buy” rating on shares of Petrofac in a research report on Friday, February 1st. JPMorgan Chase & Co. downgraded Petrofac to a “neutral” rating and cut their price objective for the stock from GBX 660 ($8.62) to GBX 500 ($6.53) in a research report on Monday, February 11th. Morgan Stanley raised Petrofac to an “overweight” rating in a research report on Wednesday, January 16th. Barclays reissued an “overweight” rating on shares of Petrofac in a research report on Wednesday, January 16th. Finally, Sanford C. Bernstein raised Petrofac to a “market perform” rating and cut their price objective for the stock from GBX 500 ($6.53) to GBX 480 ($6.27) in a research report on Tuesday, January 8th.
Shares of LON:PFC traded up GBX 2.10 ($0.03) during midday trading on Wednesday, reaching GBX 489.30 ($6.39). 711,452 shares of the company’s stock were exchanged, compared to its average volume of 3,540,000. 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 has a market capitalization of $1.66 billion and a price-to-earnings ratio of 26.31. Petrofac has a fifty-two week low of GBX 376.40 ($4.92) and a fifty-two week high of GBX 679 ($8.87).
The company also recently announced a dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a dividend of $0.25 per share. This represents a yield of 4.66%. This is a boost from Petrofac’s previous dividend of $0.13. The ex-dividend date of this dividend is Thursday, April 25th. Petrofac’s dividend payout ratio (DPR) is 1.56%.
In other news, insider David Davies bought 948 shares of the stock in a transaction that occurred on Monday, January 7th. The stock was bought at an average cost of GBX 527 ($6.89) per share, for a total transaction of £4,995.96 ($6,528.11).
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.
Further Reading: Cost of Capital Explained
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