Petrofac Share Discussion Threads

[mj19] 30/8/2017 10:48

All holding, anyone buying more yet

[ny boy] 30/8/2017 10:36

Winning a few more billions out of th 9Bl would be nice!

[1gw] 30/8/2017 10:31

Still no update to the FCA short interest spreadsheet since Thursday - short-tracker has now put a note to this effect on their website, so it's not just my browser failing to pick up the current version.

[1gw] 30/8/2017 09:58

"we continue to enjoy the confidence and support of our clients"

[d1nga] 30/8/2017 09:55

ayman reaffirms nothing to be worried about re Italy insider dealing

no case to answer

[1gw] 30/8/2017 09:54

Good stuff on the pipeline there for anyone following the presentation.

"as busy as we have ever been"

over $9bn of (E&C) bids outstanding (i.e. bids they have submitted but not yet heard outcome)

[ny boy] 30/8/2017 09:43

I calculate the divi to be paid 9.84p per share, is that correct?

[mj19] 30/8/2017 09:40

The figuresThe FTSE 250-listed company said net profit, excluding $88m (£68m) of exceptional items, was $158m, down four per cent year-on-year for the six months to the end of June.Petrofac's net debt sat at $1bn at the end of June compared with $600m at the end of 2016.The firm slashed its dividend by 42 per cent to 12.7 cents per share for the six months compared with 22 cents per share in the period last year, as it works to bolster its balance sheet and reduce debt.

[ny boy] 30/8/2017 09:38

failed..you want to get into these mate.


Chief executive Ayman Asfari today said new order intake of $2.7bn so far this year is evidence of the company's continued competitiveness in challenging markets.

"Tendering activity remains high, we are well placed on a number of bids and have a healthy order backlog. This positions us well for the second half of 2017," Asfari said.

[stoxx67] 30/8/2017 09:13

wrong thread falia, this is the Petrofac thread.

[falia] 30/8/2017 09:08

GUYS CHECK HALO OUT , ON FIRE

[ny boy] 30/8/2017 09:06

Oil prices should grind higher on here.

Amrita Sen, chief oil analyst at Energy Aspects agreed that more oil is being called upon and said the market has tightened significantly in the last three months.
"Particularly if you adjust for global oil demand growth, demand is absolutely soaring right now," she told CNBC Tuesday.
The analyst added that despite strong supply levels, the oil price should move higher.
"It should be going up because inventories have been drawing at a phenomenal pace over the past few weeks and months," she added.

[1gw] 30/8/2017 08:58

Earnings per share.

If I have my analysis right, those eps are pretty darned impressive considering where the shareprice is.

They report 46c/share (say 36p/share) just for the half-year of earnings "before exceptional items and certain remeasurements". After these exceptional items and remeasurements the eps is 20.4c/share (16p/share).

When you look at the detail of the exceptional items though they are almost entirely due to the impairment on the Greater Stella Area asset. This accounts for $83m of the $93m total. The impairment on the asset is due to lower oil & gas price forecasts as well as a reduction in production forecasts - as such it seems a reasonable "exceptional" charge in that both price and production forecasts can move both ways.

[paa65] 30/8/2017 08:58

Needs one of the big investors to grow a pair and challenge the shorters.Otherwise shorters will take this down again, safe in the knowledge that there won't be any more RNS for a few days.Come on DB, put your hands in your pockets and take it over 450 today.

[bouleversee] 30/8/2017 08:58

Slightly disappointing but could be worse. Nothing to worry about for long term holders it would seem. I shall put it on one side and concentrate on other things.

[callmebwana] 30/8/2017 08:50

Not bad results.
Divi cut is not to bad either. Will have to see what the Market thinks over time.
The Shorters will get a boot up their backside sooner or later here. I am not worried at all.AIMHO. Have a good day all.

Google is not showing the price correctly today !!

[mj19] 30/8/2017 08:43

Be good if it stays above 430

[ny boy] 30/8/2017 08:33

Nothing much for the bears really, everything in the results is already in the sp

Encouraging imho

[ny boy] 30/8/2017 08:28

474p short term target

Ok divi for the long term holders, goes ex div 21 Sept from memory

Looking forward to fresh contract wins.

[1gw] 30/8/2017 08:27

FT spin: Petrofac – forget the watchdog, look at our backlog

[adejuk] 30/8/2017 08:26

no biggie NY
in for the haul now
a few hundred £ is neither here nor there

[ny boy] 30/8/2017 08:23

See you would have had your 423p order filled

[1gw] 30/8/2017 08:22

Looking forward to the call and how they expand on the "divesting non-core assets" statement of intent.

I note the value of the Greater Stella Asset was written down so, after further expenditure in 1H, it is now sitting on the books at $228m. Still big enough to make a big dent in debt if they were able to sell it at that price.

[ny boy] 30/8/2017 08:21

Adejuk, you can put in a limit price order.