Petrofac Share Discussion Threads

[adejuk] 26/7/2017 13:12

this is a surprise

[candid investor] 26/7/2017 12:39

Bloody auto correct....I "wouldnt" rule out a rights issue...

[candid investor] 26/7/2017 12:36

I am a major investor here as well having got in at an average price of £4.48 but let's not get carried away with today's announcement. Yes it's good rather than bad news but £100 million of work keeps Petrofac going for another week...or in other words it needs to make announcements of this modest magnitude every week just to survive on the back of £1 billion of debt regardless of any forthcoming SFO fine.. .A suspension of the dividends is a possibility if the order book doesn't improve soon and I would rule out a rights issue in future to reduce the level of debt...

[ny boy] 26/7/2017 10:03

Profit takers had their moment the last days lol, be crying if they didn't get back in, enough fuel now and with rising oil prices boosting the sector, to take us up to test 527.25p short term say..4-6 weeks.

[adejuk] 26/7/2017 09:51

in the light of previous statements this rns could be the first of many.

[adejuk] 26/7/2017 09:47

let the profit takers have their moment
good luck to them

[gaffer73] 26/7/2017 09:38

Surprised this isn't much higher with all the good updates lately.

[vk74] 26/7/2017 09:09

Gary, thanks. I think I was just lucky. And on that note good luck to all of us.

[1gw] 26/7/2017 09:00

Well this is all very encouraging.

Haven't commented on the disclosed short positions for a while, but activity has kind of dried up. AQR has added 2 or 3 times I think since my last comment and is now at 4.3% but appears much less committed to further increases compared to the race from 3% to 4% between 14th June and 29th June. I continue to think that they must be relatively close to their limit on PFC given their % positions in other UK companies.

Apart from AQR, WorldQuant closed on 6th July while JP Morgan Asset Management disclosed (for the first time I think) at 0.68% on 6th July (so maybe JPM largely took over WQ's position). Old Mutual has reduced a bit in July.

[cinquepercento] 26/7/2017 08:58

Duplicated message removed.

[cinquepercento] 26/7/2017 08:57

To Cybernest53

Re: only my humble opinion:

Deeply moved by the stress and unhappiness that the above phrase has apparently been causing you,Cybernest, I have removed these offensive words from my last post.

We are all posters here but some of us want to make it clear that we are just offering our thoughts and beliefs on what the share will do,rather than claiming to be God's messenger or a know all.

If we get it right then we allow ourselves a pat on the back.

For example,this morning's news about the Iraqi Contract may well prove me wrong in my last post about Petrofac's expected next movements.

[garycook] 26/7/2017 08:56

VK74,Well done.Excellent buy.

[vk74] 26/7/2017 08:52

No no me.. I was the lucky one to buy at 447.

[ny boy] 26/7/2017 08:43

Hope not too many peeps sold out on the pull back to 445p support, obvious bear trap.

Let's crank this one up for a breakout soon, should get some decent press coverage over the £100M Iraq contract win!

[ny boy] 26/7/2017 08:22

Huge contract news & rising crude prices too!

[ny boy] 26/7/2017 08:14

Looking good, nice to have a major contract win during the quiet holiday trading months. Wasn't expecting any news until at least Sept!

SFO to drop the case would be icing on the 800p+ cake!

[grahamg8] 26/7/2017 07:52

Quite right horses don't talk but you can whisper to them. The share price at least in part collapsed because a view was being promoted that they couldn't win new business while under investigation. Neigh neigh, yes they can. Since May new contracts in Oman, Kuwait and now Iraq, and revolving credit renewed.

[nicebut] 26/7/2017 07:49

PoO up too...

[ny boy] 26/7/2017 07:48

Continued contract wins whilst still under SFO is very positive going forward, it was one of the market fears immediately after the bad news arrived in May.

Markets and analysts should cheer this news, even though most analysts will be away on holidays.

[stoxx67] 26/7/2017 07:47

indeed

the stock has been consolidating for a short time.

would be most pleasant to see a definitive move through 477

[garycook] 26/7/2017 07:41

This should give the share price a nice lift today !

[ny boy] 26/7/2017 07:35

Wake up you lot, very nice contact win!

TIDMPFC

RNS Number : 0538M

Petrofac Limited

26 July 2017

Press Release


PETROFAC STRENGTHENS IRAQ PRESENCE WITH CONTRACTS WORTH US$100 MILLION

[cybernest53] 25/7/2017 23:52

whattheduce... While I might agree with your basic premise, obviously you never watched Mr Ed! :)