Petrofac Share Discussion Threads

[garycook] 28/2/2019 14:05

It must be a good omen,if you are buying here Woody.In here at 419.54p after selling in October at 659p. Fair play to those brave enough to purchase from the 376p bottom.After the results a must have buy for me.If and when the SFO is sorted.Then PFC should go to over £6 plus again,and maybe more.Time with tell.

[woodhawk] 28/2/2019 14:03

Hi Gary, back in PFC today at 420.5p after a bit of a hiatus. Hope I do as well as last time!?!

[knowing] 28/2/2019 13:04

Jefferies's Mark Wilson reiterated his 'buy' recommendation and 590p target price for the shares following the results.

[ammu12] 28/2/2019 12:22

Back to 500 soon

[mcbull] 28/2/2019 12:19

Thanks Knowing.........26/4/19.

[knowing] 28/2/2019 12:11

The Group's dividend policy targets a dividend cover of between 2.0x and 3.0x business performance net profit. In line with this policy, the Board is proposing a final dividend of 25.3 cents per share (2017: 25.3 cents). The final dividend will be paid on 24 May 2019 to eligible shareholders on the register at 26 April 2019 (the 'record date'). Shareholders who have not elected to receive dividends in US dollars will receive a sterling equivalent. Shareholders can elect by close of business on the record date to change their dividend currency election. Together with the interim dividend of 12.7 cents per share (2017: 12.7 cents), this gives a total dividend for the year of 38.0 cents per share (2017: 38.0 cents). Dividends paid in 2018 were covered by free cash flow.

[mcbull] 28/2/2019 11:46

what day do you have to hold on, to get the divi?

[dealy] 28/2/2019 10:13

PE of 6, growth sector, net cash, critical mass of revenue and backlog. If this isn't a Buy then the whole markets are pointless

[ny boy] 28/2/2019 10:11

Capital growth also with a juicy final divi coming up, around 19p Approx from memory.

Let’s be having a few contract wins to get us motoring this quarter!

[rhatton] 28/2/2019 10:09

Just listening to the webcast

Lots of good stuff in there.

The ‘cautious outlook’ refers to clients wanting reassurance given the announcement in early Feb. Ayman referenced a contract which was about to be signed prior the initial SFO news, the client then delayed by 6 months whilst further due dillegnence was done..then signed 6 months later.

Mentioned possible surprises to the upside

[killman2] 28/2/2019 10:04

all SFO bad news known, debt gone and lovely div again...only way is back up to £6 in short term (month)...

[eggbird] 28/2/2019 09:33

This is more like it!

[wallywoo] 28/2/2019 09:02

petrofac, are transforming themselves into a cash making machine IMO. No debt, assets employed down, but not at a loss of future revenue (secured revenue at this stage last year $5.2B, this year $5.3B). Oil price has had its reverse head and shoulders pattern, and should have at least another $10 upside.

Who cares about SFO, this is a seriously strong company which will generate cash long into the future. One to hold in ISA, SIP etc for a few years IMO

[stevieweebie2] 28/2/2019 09:02

I expect this to finish Blue today.

[edmondj] 28/2/2019 08:29

Backlog (trend) tends to be seen as the leading indicator though.

[luderitz] 28/2/2019 08:24

28 February 2019
Results for the year ended 31 December 2018

Solid operational performance in all our businesses
Business performance net profit (1)(2) down 2% to US$353 million
Reported net profit (2) of US$64 million post impairments and exceptional items
New order intake (3) of US$5.0 billion; backlog (4) of US$9.6 billion at 31 December 2018
Net debt eliminated; net cash of US$90 million
Full year dividend of 38.0 cents per share

[eggbird] 28/2/2019 08:14

Yep patience required, I'm personally very happy with the results and a great dividend maintained.

[ammu12] 28/2/2019 08:13

Going back up nw

[dealy] 28/2/2019 08:05

can't believe the stock is down today

[notimpressed] 28/2/2019 07:56

from the report

"Healthy new order intake reflects our strong competitive position"

[podgyted] 28/2/2019 07:55

Apart from the SFO annoyance they seem to be in pretty good shape for a company on a PER of less than 6.

[podgyted] 28/2/2019 07:50

Accounts are pretty messy due to divestments etc ... but concensus EPS was 98c they achieved 102c so seems to be a slight beat.

[rimau1] 28/2/2019 07:42

Steady as she goes here with positives and negatives. Broadly in line results with order intake $5bn on target and margins steady, debt eliminated, 6.5% divi....but order backlog is down and the messaging is for near term softness whether this is industry wide or specific to PFC due to SFO would be good to know. I’ll add on any weakness, great long term hold with risk skewed to the upside IMHO