Petrofac Share Discussion Threads

[ards] 24/11/2014 07:52

oh dear here we go again

[cleott] 21/11/2014 16:44

Good to see that 1200 was reached earlier, I think this is still the rebound from the good update in October. Although any rumours about M & A will underpin the share, 1250 by Christmas ? particularly if the Oil price isnt so influential on their bottom line.

[philo124] 21/11/2014 08:50

Probably.
ly in profit here.

[wad collector] 21/11/2014 08:42

Telegraph is spreading the vague rumour...

All looks speculative to me.

[philo124] 20/11/2014 20:16

Quite a recovery from the recent low; bid I think.

[ards] 20/11/2014 20:01

testing 200ma if breaks should be good momentum upwards

[philo124] 18/11/2014 21:30

Maybe more industry consolidation; hope PFC are on the end of it.

[robrah] 18/11/2014 12:50

Hmm have you tried pfc website. If you r luck you may find it there.

[dimerose] 18/11/2014 12:45

does anyone know when this report?thanks

[wad collector] 18/11/2014 11:15

I see that the broker consensus remains consistently positive - none of the published ones advocate sell.

However the same consensus was positive throughout the spring and summer as the share price dropped from £14 to £9.50 !

Conclusion ; they don't know .

I am feeling rather pleased with myself for picking this up just under a tenner. But I have to confess , I was gambling and eyeballing the charts , not based on meticulous research.

[togglebrush] 17/11/2014 10:35

FWIW Press
'
Steer clear of Petrofac, Danny Fortson said in his Inside the City column in the Sunday Times. The shares of Britain's biggest listed services group have not recovered from May's profit warning. Now the falling price of oil is cutting investment by oil companies that Petrofac relies on. The problem in May was at Petrofac's unit that takes equity stakes in projects it is paid to develop. Until that division's problems are over and Petrofac demonstrates it can withstand low oil prices better than rivals, the discount its shares trade at compared with competitors is not enticing.

[piedro] 06/11/2014 16:28

Kavnish,
Thank you for your 2p's worth

Here's ¼p more
Petrofac are still winning business - cf. website

[kavnish] 06/11/2014 13:28

Gents as per usual , remember this is a shovel seller to the OG world, decisions about oil exploration are not made on todays price . It takes years for a field to come on line and it doesn't just stop because of a drop in short term prices.

The share is unloved at the moment , which I like as I slowly add to my position. The cycle with OG is pretty long so if you believe in the sector play and that the world needs oil .

Don't waste too much time thinking about the short run moves.

Anybody remember how everybody thought the world would collapse on UK property co's in 2009.2010.2011, 2012 , yet each year they paid out divi's and have gone from trading below asset value to premiums.

Sector preferences rotate , if you think you can call all the right sectors each time. Then you wouldn't be on this board.

I met Ayman yesterday at a conference, he's pretty calm about current prices and remember as he owns circa 20% this year he's down a few hundred million but his concern is not about growth its the organic issues of managing the growth.

My tuppence for what its worth.

[tiptv1] 29/10/2014 14:20

hxxp://www.tiptv.co.uk/archives/live-market-round-up-zak-mir-editor---29-10-2014/

[salpara111] 29/10/2014 09:08

Plunging oil prices will have a real effect on the business going forward as a lot of their customers reassess investment levels with oil at $80.
I guess the main thing you can say now about PFC is that there is little downside risk from the current share price and that £10 will probably be a base line going forward, the question is.....what is the catalyst required to get the share price moving back up? In my view the oil price needs to move up and stay up at around $100 for PFC to get back to the £12 level.

[cleott] 27/10/2014 19:05

As I said previous, nothing surprises me about the gyrations of this stock. Crude prices still telling I suppose ..... !

[ards] 22/10/2014 16:38

nice close above 50 dma

[philo124] 20/10/2014 23:09

Canaccord still see 1400p target.

[topvest] 18/10/2014 17:56

Yes, looks set for a rebound as these contracts come through and they improve their working capital position. Is there any prospect of another demerger of one of their divisions like they did with Enquest?

[cleott] 18/10/2014 11:08

The market does seem to play with this stock , I have been in and out over many years but do think now it should creep back up to 1200 also, although geopolitics aside and the Dow being so overvalued may still have a bearing short term !!

[ards] 18/10/2014 09:03

1200 looks possible in next few weeks. reassured on profit and debt and profit warning off table for forseeable future. should be rerated if overall market stabilises.

[deadly] 17/10/2014 20:56

No comments?
Price up 7% today and the TS looks like the pessimism has been overdone and this is cheap. P/E 10, Div 4%, cover 2.7.

-- On track to deliver net profit in the range US$580 million to US$600 million for the full year 2014, in line with previous guidance

-- Most successful year for new awards, with ECOM order intake of US$9.4 billion in the year to date

-- Group backlog(1) increased to US$21.2 billion at 30 September 2014 (30 June 2014: US$20.3 billion), giving very good revenue visibility for the remainder of the year and beyond

[cleott] 17/10/2014 09:36

Petrofac retains profit guidance..

Oilfield services group Petrofac said it is on track to hit profit targets this year, as its backlog improved over the third quarter and net debt reduced.

The group's backlog expanded to $21.2bn by 30 September, up from $20.3bn at 30 June, helped by growth in the Engineering, Construction, Operations & Maintenance (ECOM) division.

The company said that activity levels have stepped up over the second half, as expected, as it retained its guidance for net profits of $580m-600m for 2014, though this remains down on $650m the year before after a profit warning earlier in the year.

Project delays and lower-than-expected production from the Integrated Energy Services (IES) business were to blame for Petrofac cutting guidance at the first-quarter stage in May.

Nevertheless, Chief executive Ayman Asfari said 2014 is already the "most successful year for new awards" at ECOM, with order intake at $9.4bn in the year-to-date. This compares with just $5.9bn at the same point last year.

Activity levels in ECOM's onshore engineering and construction activities, in particular, have increased "substantially" during the second half as the company moves into execution phase on a number of projects. Onshore backlog rose to $12.2bn from $11.3bn three months earlier.

Offshore, the company said it continues to perform well, helped by recent contract wins, with the backlog rising to $3.7bn from $3.4bn. Engineering and consulting services, which also form part of the ECOM division, saw flat backlog at $1.5bn.

"In IES, our focus remains on the delivery of key operational milestones on the existing project portfolio," Asfari said, as the backlog declined to $3.8bn from $4.1bn.

During the third quarter, Petrofac achieved first oil from Cendor phase-two, Malaysia, in early September, marking a "major milestone" in the development of Block PM304. Production is expected to ramp up in the near term.

[salpara111] 16/10/2014 13:26

Well, this is interesting!
Every oil company and every oil services stock has been heavily marked down over the last few days but not PFC.
Does this indicate a bottom?
Still not investing until I see the next statement.