Petrofac Share Discussion Threads

[dubian99] 05/5/2018 09:42

boul
Like most interest as a recovery play , i just have a spreadbet, got wasted when it slid to 410 from 540, doing better now,
i just therorise a tipping point for oil in the future still leaves pfc as a service provider [ decommisshioning etc ]still in demand, don't know the full spec of pfc just my snapshot,
if 670 comes i'll take it from there

[wolfhound1] 05/5/2018 01:35

....back to business

I am increasingly seeing more articles about rising oil price which argues well for PFC share price in the weeks and months ahead........



key date.. be the12th when we will hear what the Donald is going to do about Iran....the 3rd biggest global oil producer :)

[bouleversee] 04/5/2018 22:45

Well done, dubian; apols accepted. We'll look forward to some constructive comments from you in the future. Don't get too frustrated by the ups and downs; look at the general trend and the bigger picture. I know very little about trading (have never done it) but my feeling is that despite fresh attempts at shorting, the time for making a quick buck from frequent ins and outs may be over and it's in buy and hold where the money lies now. Just be patient. Things are really looking pretty good for investors. Are you in it for the long term or do you have an exit target?

[dubian99] 04/5/2018 22:06

bouleversee

Fair point there, i take that on board, appols

[dubian99] 04/5/2018 19:42

I was being polite ..

[notimpressed] 04/5/2018 19:39

language dear boy, language

[dubian99] 04/5/2018 19:20

Mmm $75 fat one's trade that down Monday you city spiv cuuun
ts

[notimpressed] 04/5/2018 15:47

blackrock upped their holding

[bagi58s] 04/5/2018 11:11

Towards £7.00

[notimpressed] 03/5/2018 16:15

dubian--its called trading

[bouleversee] 03/5/2018 12:15

Thanks, lgw. Not too clued up about computers either!

[1gw] 03/5/2018 11:42

To "delete" I think you need to leave some text in. A fullstop would do though.

[bouleversee] 03/5/2018 09:43

Sorry, wrong board! How the heck do you edit? I deleted the text and resubmitted but it just reproduced it.

[garycook] 03/5/2018 00:51

JP Morgan upped its target for shares of Petrofac even after the consensus forecast for the company's earnings per share in 2019 had been revised up by 25% since the start of 2018, pointing to multiple factors that might drive further upside.

According to analysts James Thompson and Christyan F Malek, an improvement in market dynamics would follow from fiscal year 2018 order intake in Engineering and Construction at the upper end of expectations, a successful bond refinancing (expected in May), more non-core disposals and a favourable outcome to the Serious Fraud Office's inquiry.

Their raised target price, which was upped from 590p to 680p, also followed the outfit's first site visit in eight years, which the analysts said had butressed their confidence in the medium-term outlook for Petrofac.

It had also revealed that spending growth in the Middle East and North Africa was again on the up and yielded improved insights into the company's core abilities and competitive advantages, they said.

Indeed, the return of confidence in the core MENA markets underpinned prospects for the firm's order pipeline over the medium-term.

So while Kuwait was to remain a revenue focus, "growth ambitions" were also mirrored in Algeria, UAE and Saudi, the analysts said citing company presentations.

On the back of all of the above, and with 13% upside to its new target for the shares, the investment bank also reiterated its 'overweight' recommendation for the shares.

"It showed us that, while the share price may have been derailed by the SFO, the company hasn't. We update our forecasts, narrowing our SOTP discount as the outlook improves and including the sale of JSD6000," it said.

[notimpressed] 02/5/2018 16:32

divi exchange rate set, giving 18.52p/share

[wolfhound1] 02/5/2018 14:42

It has the feel of buying on expectation of news, perhaps we might see an RNS in the next fortnight.......this could accelerate north rapidly on announcement of a big deal win IMHO

Chart wise - it looks like "W" forming with double bottom support on 600p level, assuming that is the case then a strong uptrend in share price is quite likely :)

GLA

[paa65] 02/5/2018 13:26

If you add last weeks divi back in then this is now the equivalent of 630.And volume has just ramped up.650 this week?

[notimpressed] 02/5/2018 09:32

for what its worth only credit suisse have petrofac at a discount.
the rest are 10% above the current price, jeffries being the exception at par.

[notimpressed] 01/5/2018 09:48

volume seems to have reduced
rns explains price drop, hopefully will pick up
once the overhang is cleared

[wolfhound1] 29/4/2018 23:22

Will we see other brokers joining Barclays target in the coming weeks...

As to speculation re SFO not having made a comment - I suspect we will continue to have radio silence as SFO are effectively lacking "future leadership" and operating with an interim COO as CEO so ... the "when in doubt say nought" philosophy is being exercised at SFO.

Have Barclays taken a similar view in their revised TP...or perhaps they suspect someone is getting ready to pounce :)

Looks like a positive breakout ahead IMHO

GLA !!

[foot in mouth] 28/4/2018 12:34

BARCLAYS RAISES PETROFAC PRICE TARGET TO 800 (600) PENCE - 'OVERWEIGHT'

hxxp://www.morningstar.co.uk/uk/news/AN_1524818101219298900/broker-ratings-summary-barclays-raises-ashmore-and-cuts-jupiter.aspx

800p would do me nicely!!