Petrofac Share Discussion Threads

[charlotteeb] 28/6/2017 12:15

Broken through 435 - now let's hope it holds

[paa65] 28/6/2017 12:12

The market never fails to surprise.With yesterdays bland RNS I was sure we would see a slow slide back below 400.But three legs up in a hour today - each with higher volume than the previous one.Hope it tests and breaks the 443 peaks of the last fortnight too.Or at least holds on to todays gains.Exciting time.

[ny boy] 28/6/2017 12:07

We have 4 broker recs out today, all positive, assuming this is behind today's share price bounce back.

Raymond James
Numis
Kepler Cheuvreux
Goldman Sachs

[nicebut] 28/6/2017 12:07

Bought a few more earlier...Thought I`d timed it badly but maybe not! Seem to have quite a few now.

Can`t find anything about yesterdays web cast.

NYboy,

you might get your 435 today?

[ny boy] 28/6/2017 11:57

KeywordCompanyEPIC/TIDMSEDOL/ISINNews

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Broker Forecast - Numis issues a broker note on Petrofac Ltd
By BFN News | 09:40 AM | Wednesday 28 June, 2017

Factsheet Petrofac Limited Ord USD0.02 (PFC)

Numis today reaffirms its buy investment rating on Petrofac Ltd (LON:PFC) and set its price target at 600p. Story provided by StockMarketWire.com

[ny boy] 28/6/2017 11:54

No the share price is spouting!

I think market traders always seem to dig up some info from their sources but usually all rumours and speculation, like most other markets moving, I'm still waiting for an ITV takeover but have patience.

Bull/bear fight is for control over the 435p level +/-

[penycae] 28/6/2017 11:23

There is no way at all that the SFO will/would have given any indication as to when an investigation is likely to be completed.

[tsmith2] 28/6/2017 11:22

Lol..NY spouting

[ny boy] 28/6/2017 11:12

Going up as oil prices come off their lows

Market desk chatter down at Canary Wharf expecting SFO decision 2nd week into Sept, we will know nearer the time if it positive, by the trading pattern. Most of these rumours float around as summer holidays beckon, ie, as traders have little going on apart from rumours/gossip.

PFC have already halved in value, do test article must be an old one.

Will add more,once the share price closes for a week or so above the key & pivotal 435p resistance level.

[sophia1982] 28/6/2017 11:11

The above is from Tempus, The Times

[sophia1982] 28/6/2017 11:11

Petrofac’s aim, in updating the market just before the end of the first half of its financial year, was to reassure that the Serious Fraud Office investigation announced a month ago was not, as feared, leading to a loss of new contract wins as nervous clients left the company off tender lists.

The reassurance only partly succeeded. There is not a lot that the company can say about the SFO inquiry into its links with Unaoil, which it has employed in Kazakhstan in the past, amid allegations of bribery and money laundering, and it could drag on for a while. Other UK oil service companes have also been dragged into the affair.

Unfortunately, Petrofac was required to accompany that reassurance over the pipeline of orders and the backlog with an admission of what the market had largely expected, that the Integrated Energy Services division would undershoot profits guidance. The range of expectations is now $60 million lower than suggested at the full-year figures in February.

IES has caused enough grief in the past. It was set up some years ago with great hopes, allowing Petrofac to take stakes in big projects it was working on and so share some of the profits. The idea never really worked out, while Petrofac also suffered from a disastrous contract in the North Sea, the Shetlands gas plant for the Laggan-Tormore field. The latest bad news is, predictably, the low oil price and a slow ramp-up of the Greater Stella Area in the North Sea. Meanwhile, migration of work off Mexico to the production-sharing contracts has taken longer than expected.

Petrofac decided at the full-year figures for 2016 to stop giving forward guidance on earnings. It is a measure of the company’s concern that it has reinstated them for the first half, a figure of $135 million to $145 million suggested, while accepting that the full-year numbers will depend on second-half performance. There is also concern over debt, up from $900 million at the end of 2016 to $1.1 billion, though this should come down in the second half.

On any measure Petrofac shares, off 8½p at 417½p, look cheap, selling on five times earnings and yielding 11 per cent if the dividend is maintained. Those prepared to take a speculative punt might as well do so.

MY ADVICE Buy
WHY This is a highly risky investment and the dividend could yet be cut, but the shares should rebound if there is no further bad news

[gaffer73] 28/6/2017 11:10

Nice little pop up there, could be a strong afternoon.

[mj19] 28/6/2017 10:37

Net debt is expected to be around US$1.1 billion at 30 June 2017, reflecting working capital movements and payment of the 2016 final dividend. Net debt is expected to reduce during the second half of the year.Need to get debt down but much better than tullows debt mountain

[fishking1] 28/6/2017 10:29

The share price has been left battered in the wake of the SFO's decision to investigate allegations that it used scandal-hit Unaoil as a middleman to secure consultancy contracts worth $2bn in Kazakhstan between 2002 and 2009.Market commentators fear that Petrofac's market value could halve if it fails to secure more work.Both Unaoil and Petrofac have denied wrongdoing.By Telegraph.

[tsmith2] 28/6/2017 10:27

not sure what more the shorters have to go on...Cost of borrow, turning sentiment, dividend..all set for a material push northA good contract win would really put cat among pigeons

[mj19] 28/6/2017 10:26

Guys how much debt to this guys have? Or is that not an issue ? Looking to get in now

[whattheduce] 28/6/2017 10:19

Tomorrow there will be a lot of t+3 money available form the sells on the 26th, the last profit take. I reckon we will then have a repeat of the 15th and with a pinch of luck the AT algorithms will keep pushing against the shorters. I am looking at the my next profit take to be very close to 500 if not just over, if not on the 30th then the latest on Tuesday. Of course, if it rubber balls I will be in and out many times.

his is going to be a very nice little earner until the SFO says watered down investigation.

[bouleversee] 28/6/2017 10:17

Yes, I may well do so. Just more unnecessary fees (was buying for kids) and more record keeping but no big deal really.

[terry hardacre] 28/6/2017 10:13

Well why don't you buy more today - the price is hardly any different

[bouleversee] 28/6/2017 10:10

Tempus in The Times is also tipping PFC today as a speculative buy. Wish I'd had the confidence to buy more yesterday.

[ny boy] 28/6/2017 09:43

What's the new rns out was showing 3 now 4?

[1gw] 28/6/2017 09:14

A few brokers targets reported this morning from N&P:

572p Buy: Goldman Sachs (down from 584p)
700p Buy: Kepler Cheuvreux (reiteration)
600p Buy: Numis (resumes)
? Market perform: Raymond James (reiteration)

[whattheduce] 28/6/2017 08:45

what you doing here superiorape? Follow my lead? Hold your nerve, only a few days before going skyward. Leave the JLP mob to sink. Something very wrong with that one.