Petrofac (LON:PFC) Downgraded to “Hold” at Jefferies Financial Group

Petrofac (LON:PFC) was downgraded by investment analysts at Jefferies Financial Group to a “hold” rating in a report issued on Monday, ThisIsMoney.Co.Uk reports. They presently have a GBX 430 ($5.62) price objective on the stock, down from their previous price objective of GBX 500 ($6.53). Jefferies Financial Group’s price target would indicate a potential upside of 10.34% from the stock’s previous close.

A number of other equities analysts also recently weighed in on PFC. Kepler Capital Markets reissued a “buy” rating on shares of Petrofac in a report on Monday, September 9th. Barclays reduced their price target on shares of Petrofac from GBX 670 ($8.75) to GBX 600 ($7.84) and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Royal Bank of Canada restated a “sector performer” rating on shares of Petrofac in a report on Thursday, September 12th. Morgan Stanley lowered shares of Petrofac to an “equal weight” rating and lowered their price objective for the stock from GBX 500 ($6.53) to GBX 480 ($6.27) in a research report on Monday, October 28th. Finally, Canaccord Genuity upgraded shares of Petrofac to a “buy” rating and dropped their target price for the company from GBX 600 ($7.84) to GBX 500 ($6.53) in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of GBX 563.15 ($7.36).

Shares of LON:PFC opened at GBX 389.70 ($5.09) on Monday. Petrofac has a 1 year low of GBX 373.87 ($4.89) and a 1 year high of GBX 562 ($7.34). The company has a market capitalization of $1.35 billion and a PE ratio of 6.15. The business has a fifty day moving average price of GBX 397.99 and a two-hundred day moving average price of GBX 409.50. The company has a debt-to-equity ratio of 133.90, a current ratio of 1.23 and a quick ratio of 1.10.

In other Petrofac news, insider Andrea Abt purchased 1,271 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of GBX 393 ($5.14) per share, with a total value of £4,995.03 ($6,526.89). Also, insider Alastair Cochran sold 7,957 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of GBX 383 ($5.00), for a total transaction of £30,475.31 ($39,821.39).

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.

Recommended Story: The risks of owning bonds

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.