Petrofac Share Discussion Threads

[redcarpdog] 17/8/2017 13:51

Patience Lodge, I share your pain (£40K) :-just think the market is having a bad day..even SMT is down today! :-)

[cashandcard] 17/8/2017 13:51

lodgeview,


Stop watching this everyday. it'll only make it worse for you.

Focus on the longterm. business is good, it will make a comeback.


Cash

[adejuk] 17/8/2017 13:49

bad results - not gonna happen but they may not be inspiring
sfo - bad news
worst case 340p - already factored in

[binarypilot] 17/8/2017 13:48

An announcement of any dividend less than last year and this will drop badly.

They must maintain the divi to reassure the market.

We see...

[adejuk] 17/8/2017 13:48

my average is around 420 but i was already a load up from earlier.
there is high risk here

[adejuk] 17/8/2017 13:47

me too lodge but i'm not crying - yet !!

[binarypilot] 17/8/2017 13:44

Lodgeview
If you are crying at this then you shouldnt be investing. Never mind 60k pounds.

[rhatton] 17/8/2017 13:44

if you look back at the chart above the posts on this thread, its not exactly the most stable chart, there's a lot of choppiness in it so not too good for the heart.
just need them to keep winning orders, after further research this week that is the only real thing I'm concerned with as i have posted on LSE and here prior.

order book stands at $13 billion at last update although we did win that $1 billion Oman contract recently so perhaps up to $14 billion now.

Ideally we need to be winning more like this soon. some half year reports over the past few years there were reporting upwards of $6 billion in new work during the period. This one will be around $3 billion max thus far.

[lodgeview] 17/8/2017 13:36

I am crying here. I have invested 60k pounds in this.

[adejuk] 17/8/2017 13:36

how wrong could i be? :-)
shorters target must be sub 350

[bluerunner] 17/8/2017 13:34

Equally, this could take off rapidly even if the news is not too bad.I'm not ramping or talking the case up. But that is the speculative nature of PFC at the moment.Hopefully the full divi will also be retained.

[ddubzy] 17/8/2017 13:18

Sadly this is a shorters dream until the SFO investigation is out. Certainly a miserable hold ATM.

[buoycat] 17/8/2017 13:14

Getting proper representation by a good lawyer is never an admission of guilt. If you were accused of a crime wouldn't you want a good lawyer?

[notimpressed] 17/8/2017 12:19

"Petrofac has turned to a renowned City litigation lawyer to handle its response to the Serious Fraud Office's bribery investigation. Edward Sparrow, a partner at Ashurst, the law firm, will communicate with the SFO as it conducts its investigation into the oil services company's conduct in the Middle East. - The Times"

could be an admission of guilt whilst trying to limit the damages

[1gw] 17/8/2017 12:15

It could just be that Deutsche Bank are selling a few at the moment of course. Given the relative lack of activity among the big holders and declared shorters recently, it wouldn't take much to shift the bias to downwards.

[cinquepercento] 17/8/2017 12:10

Yes,your post is very informative and encouraging,1gw.

[lodgeview] 17/8/2017 12:04

This is awful. What is going on ffs?

[cashandcard] 17/8/2017 11:54

Perhaps a cloud over divi?

Longterm it will recover.


Cash

[vk74] 17/8/2017 11:50

Wtf is happening....

[midasx] 17/8/2017 11:40

Many thanks 1gw your research is appreciated both here and on the RTHM site.

[bouleversee] 17/8/2017 11:13

Windjammer -

What's the big deal about REDD? I have held for some time and am losing over 9%.

There's something very strange going on with PFC share price Can't understand why it's this low.

[1gw] 17/8/2017 10:37

Shareholder register.

I did a bit of digging through the holdings notices this morning, starting from the shareholders declared in the annual report. I think the current position on voting rights (including derivatives), from annual report and holdings notices is as follows:

18.2% Ayman Asfari & family
9.0% Deutsche Bank
8.0% Standard Life Aberdeen
5.2% NTMS Investments (I think this is "Maroun Semaan & Family")
5.2% Toscafund
5.0% Blackrock

So a total of just over 50% held by these major holders. That looks much better than the annual report listing, which just had 2 major holders (Asfari & Semaan), the original founders of Petrofac.

The other interesting thing was just how aggressive Deutsche Bank was in building it's position during June:

01/06/17 5.08%
09/06/17 6.01%
16/06/17 7.04%
28/06/17 8.13%
09/08/17 9.37%
11/08/17 8.96%

Apart from Deutsche, there really hasn't been a lot of movement evident from the holdings notices in 2017. On the assumption that NTMS investments is the vehicle of the Maroun Semaan & Family holding, they went down from 5.2% to 4.5% just after his death, but then back up to 5.2% not long afterwards. Blackrock dipped below 5% and then came back above on successive days in March. Templeton Investment Council went below 5% (but were not listed in the annual report as a major shareholder anyway), Toscafund went above 5% and Standard Life Aberdeen emerged as a major holder thanks to the merger.

[w1ndjammer] 17/8/2017 10:14

hope some of you followed my lead


W1NDJAMMER - 07 Aug 2017 - 08:31:08 - 8255 of 8636 Petrofac - PFC
my holding here had matched that of Shell which is my biggest so i have sold 15%
and bought REDD long term hold nice divi and a growing company.