Petrofac Share Discussion Threads

[cinquepercento] 28/8/2018 08:09

Hello,Callmebwana.

Yes,I was day and week trading this for a long time.

Now we have reached the previous high point of around 16th May 2018.

A straight line projected through the three previous approximate highs of 483 on 26th June 2017, 562 on 31st January 2018 and 650 on 15th May 2018...points to a next high of around 710 to 720.

Rightly or wrongly, I intend, at the moment ,to get completely out at this point and wait for the usual fall back before jumping back in again.

[wolfhound1] 26/8/2018 22:51

Selling off capital intensive assets and paying down debt is smart IMHO - eradicate debt and we add $70mn profit a yr by killing interest payments.

I doubt any of these assets were meeting the ROI required and PFC is better sticking to its knitting.

It management focus energy on securing a big contract and profits can be moved back towards the $630mn+ then share price will rocket....

Alot of good steps already taken and a large contract win or two and we shoukd be well on the way to 200% -300% share price appreciation in the medium term IMHO - sound fanciful..... have a look back at 2012/2013

[togglebrush] 25/8/2018 08:51

Press
'

[oilretire] 24/8/2018 22:49

A large contract win seems to be the key....

“An improving oil price is one factor in Petrofac’s favour, and it’s encouraging to see a handful of new wins in recent weeks. However, investors will want reassurance there’s more to follow the new business that’s come in so far.”........

..............Although the company has secured a number of contracts this year, the broker said there had not yet been any very large “anchor” projects. The company has said that a number of major contracts could be awarded in the third or fourth quarter of the year.

[bouleversee] 24/8/2018 17:31

When in doubt, do nowt!

[warranty] 24/8/2018 17:17

Like others here I'm only concerned that they appear to be selling this at around half the carrying cost value, which seems a little strange if the operation is profitable. The share price took a jump early on but obviously the market wasn't as impressed with time to think on it. Not sure whether to hold into results or not, I'm now just in profit overall but am struggling to see anything which would take the price higher, other than a massive contract win, until a resolution of the SFO inquiry is confirmed. Decisions, decisions!!

[callmebwana] 24/8/2018 17:08

LOL :o) Cinquepercento, have you become an investor lately and given up trading ??
Hope you are keeping well. You will have to change your name now. Don't forget the Divi coming shortly after results on the 29th. Let the Shorts have their fun for the moment.

[cinquepercento] 24/8/2018 10:26

I will wait for 720.

[bouleversee] 24/8/2018 10:15

but getting less so. Profit taking pehaps.

[cerrito] 24/8/2018 09:42

I had the same question Wad Collector and I thought a bit spooky that the Impairment charge was so high making you wonder about how the other assets are valued...but as you say the market seems happy

[wad collector] 24/8/2018 08:35

24 August 2018

PETROFAC AGREES TO SELL INTEREST IN GREATER STELLA AREA DEVELOPMENT

Looking at the numbers in the summary , I cannot work out if this is a give away price for an asset with rising profits , or a wise sale.

Judging by the market reaction , as we have now breached that 1 yr high , closer to the latter.

[callmebwana] 24/8/2018 08:31

Good morning Wolf.Well said.
Have a nice day all.

[wolfhound1] 24/8/2018 08:16

Next stop 800p+

A short squeeze has to be a real possibility now, another RNS of a big contract win or SFO dropping charges and share price rockets away from them.

[callmebwana] 23/8/2018 11:55

Chart info for the ones interested.
£6.50 Resistance broken. Next resistance around @ £6.60, if broken then I see no more resistance on the Chart until well above £7. NAI DYOR etc. We can all but hope.
Have a good day all.
GLA.

[d1nga] 23/8/2018 11:51

shorts starting to squeek a bit now I'd hope

lets see them win the basra sea water contract to really light this up

[pogue] 23/8/2018 08:00

Callmebwana
we will agree at some point I get bullish sometimes as well :0)
I will still hang about here as I still have a 5% portfolio holding. I have not made the jump into gold yet just been adding to some of my old favorites with good divis that I think are undervalued just now. I will get inot gold but I think this is a temporary bounce and another little drop will happen. Interest rates in the US have to rise IHMO, as Trump puts tariffs up on cheap imports and tries to force US companies to manufacture in the higher cost US this will only produce inflation leading back to a stronger $ thus weaken gold, and oil.

[garycook] 23/8/2018 02:39

CMB,There is also Fundamental Asset Management.Co run by Chris Boxall,which also specialise in AIM with No IHT to pay investments.FAM only charge 1% Octopus charges are very expensive around 5%,for doing the same product.Anyone interested in FAM I can highly recommend Chris Boxall,he can be contacted on [e-mail],

[callmebwana] 23/8/2018 01:24

O/T
I have some free time so I thought I will post something about IHT. There was £5.2 Billion collected by HMRC last year by IHT. By the not loved TAX Man.

We all should first of all make a Will for our loved ones in our lives.
A single person is allowed £325K IHT allowance, with the added allowance of £25K per year for a home that is also left to our family in our Will. By year 2020 the home allowance will be £175 K. In total £500 K for a single persons allowance by the year 2020.
The HMRC made an allowance a while back, that if a person invests in AIM Co's shares there would be no IHT on those investments. They have to hold these shares for over 2 years before they pass away.
That does not include all AIM Co's. Only 700 Co's are TAX exempt out of the 2K+ odd Co's in the AIM Market.
Witch Co's are the ones that are IHT TAX exempt?? HMRC does not tell you that !! The Co's have to be useful to the public of UK !! There is a fund called Octopus Investments that can be invested in for IHT. Apparently they know the Co's in AIM Market that meet the requirements needed by HMRC . They change the Co's if they don't meet the HMRC requirements. I think you can invest as much as you like in this fund.So no IHT to pay.
The rich ones have their accountants and financial advisors,the middle class get caught in the net. There is a different allowance for married couples.
DYOR etc. NAI. I just thought this information would be of some use to someone on this BB.
Two things are guaranteed in life,death and TAX's.
Good night.

[callmebwana] 23/8/2018 00:19

LOL :o) Pogue. We agree to disagree.
I am not the sort to gloat by saying told you so !! The cheap shares can always become expensive tomorrow. I wish you the best in your investments.I hope you bought some FRES or RRS.We never know when this world may change back to the Gold Standard currency again. The BRICS countries and Turkey joining them and the likes ?
What is cheap today can become expensive tomorrow.WDIK ? Only three or so posting on this thread so not a lot to go by.Ah, posting on ADVFN threads !!
I am retired so I have the time.
Best of luck to you in your life and your investing. :o)

[pogue] 22/8/2018 20:24

WG only have the problem at FW which is a small part of their empire plus they were held back by swallowing AmecFW recently. There maybe a surge at PFC but I still have decent holding but need the other cash to buy other low priced shares.
Not convinced Iran can block the straits of Homoz. I did think they could do so by sinking a couple of tankers in the channel but others elsewhere have convinced me the would clear that pretty quick they maybe wrong though. The Iranian navy wouldn't last more than a day then even the small boats would be matchsticks biggest threat is the land based rockets but I am assuming they will land marines and fly many sorties to take out that threat. Nobody is really talking about that scenario so I am guessing it is covered. Could be everyone underestimating it though.
Still bearish :0)

[callmebwana] 22/8/2018 18:57

Pogue,good post by you. Trump can only do so much,he has other problems coming up as you say. I agree with you about the PoO bouncing between $70/80 for the time being.
The PFC share price is going up.I think most share holders are happy holding it. I watched Wood Groups shares preforming well the other day after their results. I think the same will apply here. Good balance sheet,lower debit etc,etc. WG are also in the net with SFO same as PFC.
Straits of Harmuz blocked and we could have a very big problem. What PoO then? I am watching and waiting to see how far Trump is prepared to go with Iran.
Any share is a gamble to a certain degree.
My PFC share holding is a gamble I am prepared to take I also like the Divi.
In the end everyone to their own.
Barclays have gone overweight with PFC @ £8.50 share price target. I think most of the recent holders will be happy with £7.50. Time will tell.
GLA.

[pogue] 22/8/2018 16:50

There was a draw on the crude storage however there is an 11 million barrel sale of crude from the strategic reserve coming up now. Its only the 3rd time in history sales have been authorized from it. That is a strong signal from El Presidente that he is going to do what he can to stop rising oil prices. Basically Trump is determined to keep petrol prices low before the November midterm elections as petrol prices have a very negative effect on who ever is in power. After the confessions of a couple of his stooges he has more reason to be fearful of these elections as if the democrats get a majority they can vote to impeach him after the information from the confessions they now have. So the President of the US, the President of Russia and OPEC, minus Iran, all want to keep the oil price in the $70 to $80 range. Against that there is the sanctions on Iran and Venezuelan production falls but the former is looking like it will not achieve as much as hoped and the latter is quantifiable but definitely a major issue. So my money is on POO staying in the $70s too many powerful people with the ability to affect oil supply want it there currently, but as I keep saying right now its all a gamble.