Petrofac Share Discussion Threads

[callmebwana] 03/8/2018 12:34

Pouge,that is what the BB's are for, to put our views forward also keeping the BB polite. As I said in my first post to you,there are many cogs to the machine.
SFO,PoO,Shorts,Debit,Balance Sheet,Contracts etc,etc.It is not just the PoO only.
Today the share price seems to be a bit on the up side. (At the moment ) !! :o)
I don't think it is PI's buying in. Algos playing games.
So I would hope another reduction in Short position.We will know in a couple of days.
Have a good day.
GLA.

[pogue] 03/8/2018 11:42

no that's fine good to have a contrary opinion to make me challenge my viewpoint I hope I made you think as well.

[callmebwana] 02/8/2018 23:33

Sorry Pogue, as I said we can agree to disagree.

[pogue] 02/8/2018 18:48

callmebwana
I have to disagree with you. I have been laid off twice when the oil price fell significantly. All the projects apart from term contracts in the office basically stopped and were shelved and these were large projects. To say the oil price has little effect on these companies is wrong I am afraid I have seen first hand the effect and the rate I get paid is also proportional to the going rate of oil. The amount of work in any contractor office is directly proportional to the oil price I have seen this for nearly 30 years I am sorry I cannot buy the shorters closing positions is a more dominant effect unless you relate it to them getting out due to oil price movements.

[wolfhound1] 02/8/2018 18:11

...and another little reduction in the shorts - 8.49% down from 9.54 on 5 July , share price has moved from 548 to 596p

approx : 10% reduction in short position sees a corresponding 9% increase in price

[callmebwana] 02/8/2018 16:08

Pogue, I do agree with you to a degree, both have the SFO investigation ongoing. The PoO does have a bearing on the share price of both these CO's but not to a very large degree.There are also many variables between the two. What I like about PFC is that they are trying to make their balance sheet stronger.I don't look much into Wood Group as I am not invested there.
When I see a rapid rise in PFC share price without any news it does make me wonder.
OK, there is still a possibility of PFC winning a big contract in Iraq, the sale of North Sea assets etc,etc. So IMO the Shorts can get a bit nervous and move along to other pastures but they do have to buy the shares to get out. When they buy, the share price rises.I think the Shorts made the price go up to £640+ not the RNS or the PoO.
LOL, we can agree to disagree. This post is AIMHO of course. NAI.

[pogue] 02/8/2018 15:27

callmebwanafor all the shorts buying the chart is very similar to Wood Group, and others, and is tracking the movements of the oil price more or less. Shorts selling is not necessarily a sign there is news on the way as suggested perhaps they see the PoO going up and are selling? To me that is a more logical interpretation of their actions.

[wolfhound1] 02/8/2018 12:16

I believe the spike up in share price to 640 was a little glimpse of a short squeeze - mm probably thought this is it -shorters are heading for the exits- the pendulum has swung so the direction now is likely to the upside

I am inclined to also think above now makes 600p the new support level and that will ratchet up as we see more close out of shorts......

Gla

[callmebwana] 02/8/2018 11:18

From 9.45% to 8.6% Pouge !! The Shorts would have had to buy quite a few shares .
It would be naive to think it would not have an effect on the share price.
Everyone to their own though. We all have our own agendas and views.
Mine is patience here.
GLA.

[pogue] 02/8/2018 10:31

I am not convinced these shorters are moving the price as I said the other day to Chelsea why did the price shoot up from £4 if the shorters were manipulating the price?
Now we have shorts reducing their position and the share price meanwhile the oil price has been dropping for a few days and the share price is dropping which is the reason for the fall bearing in mind all other oil related stocks are generally falling as well.
Pays your money takes your chance on what metric you use I will stick with the one that seems to match the facts. Only thing other than oil price that will move this is contract news, SFO update etc and those are not predictable, one can off course continuously speculate on when these will come and occasionally get it right but then that is just gambling as opposed to investing.

[wolfhound1] 02/8/2018 09:48

Shorts closing............ down to 8.6% .......watch this space

[callmebwana] 01/8/2018 11:23

I think £6 is working as support for the moment. Will it hold today? We will just have to wait and see.
At the moment PFC are doing the right thing to make their balance sheet stronger IMO.
I am waiting for the North Sea sales RNS. A difficult share to trade for sure with the Shorts in the background. If they don't reduce then they will have to pay the Divi.
In this last RNS the Government has to sign off, that can take a fair bit of time. So I suppose the ones in the know are taking their money of the table.It was a bit of a sharp climb in the share price.
GLA.

[d1nga] 01/8/2018 07:32

no idea , cos charts are bollix , mumbo jumbo could go up or down , but if I was to hazard a guess I'd HOPE we may get a run like we had from feb to may , depending on NEWS

hth

[dahhad] 31/7/2018 22:45

Dinga, what do you think the next support level is? thanks, dahhad

[d1nga] 31/7/2018 16:20

I'm more inclined to look at next support level,
the bears have gained control today

[stoxx67] 31/7/2018 15:50

next resistance 650

[bagi58s] 31/7/2018 10:33

As per ii next resistance is at 918.00 so it should go at least to that level. Also a possible bid.

[wolfhound1] 31/7/2018 10:17

"Dubbya" chart delivers again......conditions are ripe for a serious breakout into new highs this yr possibly into 800p+ if short squeeze due to news.

I also wonder if there is a bidder out there they may pounce ahead of an RNS of a major contract win.......

Locked & Loaded !!!!

[callmebwana] 31/7/2018 09:16

Very good news,wait till the sale of North Sea assets. :o)
Profit taking !! I wonder where the price will be when USA wakes up or another RNS lands re a contract win?
Shorts @ 9.19%. So unwinding a bit.

[rimau1] 31/7/2018 08:31

Still the cheapest oil services play in the sector

[ny boy] 31/7/2018 08:08

Certainly pays to buy these chart pull backs!

[d1nga] 31/7/2018 08:03

Shorts getting squeezed now - all good , lets see a big contract to really put the pressure on

[oilretire] 30/7/2018 20:58

Yes, basically farming out 49% of their 100%.Mexico JV going forward on a 51/49 basis......

[bouleversee] 30/7/2018 19:43

That's how I read it, too.

[ipw] 30/7/2018 19:32

I read this as Petrofac disposing of 49% of its interests in Mexico and Partnering.
Not full disposal.
Have I miss-read.