Petrofac Share Discussion Threads

[wolfhound1] 20/5/2018 12:07

Dull sunday so did the math on Rye bay short..... ouch they have been burned !!

They came late to short party in Nov2017 when share price was at 425p and built up a short position til dec 2917 and then reducing from start of 2018. They lost over £1mn on the reduction (realised losses) and by the time share price hit 650p they were carrying a further £4mn paper loss...... trading is all about timing and theirs seems lousy....lol

This latest short reaks of a classic desperation double down to try to hold back the share price

One good RNS on a big contract or ironically a bid by someone taking advantage of yhe low price and they could ship some really large losses on this position.

Petrofac position has improved considerably since they put on their origional short so to take a second bite of the cherry looks a bit foolish..... but they have done all investors a favour ahead of the dividend next week by holding down the price...we can now get more shares on the reinvestment and burn the shorters at the same time.... happy days

[cerrito] 19/5/2018 21:21

I was at the AGM
A very low key affair and only 4/5 private shareholders. Note that as per AR private shareholders are 38 pc and taking out the CEO that brings it down to 20 pc still a sizeable figure which has over the last few years been pretty stable. Given everything the company had been through over last year surprising that such a low turnout.
The only other AGM I went to 3/4 years ago was equally low key.

An activist asked about carbon footprint.
CEO seemed very comfortable with both their bidding discipline and confidence in market. Said that comfortable doing fixed price deals if costs increase as they hedge the raw materials and do back to back deals with their suppliers.
Alot of emphasize on their very good safety record.
Chairman started the q&a by reminding us that nothing he can say on the SFO investigation and no questions were asked on this.
Last year 7pc voted against remuneration report and this year 20pc

[1gw] 19/5/2018 17:44

On the 17th?

I was going by Yahoo! Finance, which reports 10.4m traded.


Edit: So too does HL if I look at a volume indicator on a monthly chart for 17th.

Although the FT reports 7.3m.


You would think these sites could agree on a common basis to report volume.

[notimpressed] 19/5/2018 16:24

1gw, advfn have the volume at 4 mil, HL showing 5.75 mil

wolfhound, always nice to see shorters get roasted, they are
the scum of the earth, worse than donald trump

[wolfhound1] 19/5/2018 16:11

It looks like Ray Bay are desperatly trying to hold back the share price by almost doubling down....sp had risen about 30% from when they initially shorted.......oops got it wrong

someone should tell them when you are in a hole ...stop digging

ironic if their shorts triggered a bid and share price shot up another 30%+

[notimpressed] 19/5/2018 11:12

with the exception of credit suisse all the
brokers have a median price of 665 ish

[1gw] 19/5/2018 10:43

notimpressed. About 1m shares, compared to a volume of 10m shares or so, which was about 6-8m above typical recent volume.

How significant that 1m was perhaps depends on how they were trading. If they just wanted to drive the price down by selling constantly then it was about 1/7 of the additional volume. But if they wanted to sell about 1m shares at the highest possible price in order to maximise their expected profits from a short position of that size then they probably used algorithms with a sell bias don't you think? i.e. they probably used a mixture of selling and buying to stop the price falling too quickly - in which case the volume of shares they accounted for would have been a multiple of the 1m net selling that they managed.

[notimpressed] 19/5/2018 09:34

1gw 0.29% =985101 shares, way below the volume traded.
also counter balanced by other reductions prior to that date,
aqr, black rock and old farts reducing.

[1gw] 19/5/2018 09:19

Big increase in Rye Bay Capital's short position on 17th, according to short tracker. That presumably contributed meaningfully to the price fall.


On the price of those delayed reported trades, you have to look at the time of the trade, not the time of the reporting to see if they were at market price. The 2 big ones at 616p look to have been done just before 3pm.

[notimpressed] 19/5/2018 09:03

re post 12275, it does appear that way, all way above
the asking price.

[garycook] 19/5/2018 02:07

550,569 Share Buys held back by Market makers,and posted after the 4.35pm UT Trade.I believe MM,s are playing with us PFC shareholders atm.Lets see what Monday brings.

[notimpressed] 18/5/2018 19:28

no particular reason for the pullback,
agm statement solid, no surprises,

[wolfhound1] 18/5/2018 18:35

Now AGM is out of the way, I suspect we might see more RNS in the coming weeks that will push share price higher.....if it hangs around 600p for too long then IMHO a bid is highly probable

[ny boy] 18/5/2018 18:18

560p is support, if 600p doesn’t hold next week.Difficult to read at present, maybe undergoing a healthy correction but you wouldn’t want lower than 560p as next support is 460p!

[notimpressed] 18/5/2018 18:11

a healthy 20% correction would eliminate me
not healthy at all along with the drop in nano

[boris cobaka] 18/5/2018 17:52

Well first the good news. We managed to hold above 6.00.

I'd say though on the last two sessions performance that this could continue until that 10dma on the weekly is pinged. Not ready to back up the truck just yet. A healthy 10-20% correction would eliminate a lot of the froth.

[boris cobaka] 18/5/2018 17:47

danny DeVito with an axe?

[lodgeview] 18/5/2018 16:26

Short attack

[boris cobaka] 18/5/2018 16:24

Hopefully won't close below 6.00

Everything xxd.

[notimpressed] 18/5/2018 15:00

listed on the ftse

[garycook] 18/5/2018 14:50

But they are a Swiss based company ?

[notimpressed] 18/5/2018 14:40

the serious farce office having battered pfc,s sp
is now turning its attention to glencore

[jswjsw] 18/5/2018 11:12

The bidders are still hovering. Anyone gone to the AGM?

j

[wolfhound1] 18/5/2018 10:53

The bigger risk as I see it is that if the share price doesn't go north of £9-10 in the short to medium term then PFC may be on the end of a bid.....and I would imagine many ii's will be viewing it that way -after all despite the algo-bot attack yesterday it wasn't accompanied by a volume spike as many investors just sat back or those with spare funds bought more.....