Petrofac Share Discussion Threads

[tomc85] 23/9/2020 16:04

RSI on the floor

[bracke] 23/9/2020 15:55

At 21/09/2020 % short was 1.02%

[tomc85] 23/9/2020 15:42

£400m market cap!

[tomc85] 23/9/2020 15:40

Echo the points made shorter attack no doubt.

I think there's an element of oil is dead short term but it's not its a long term situation. Long term oil will not be important and investment will fall of a cliff, we get that but that means all those rigs need decommissioning and we have won renewable contracts in the past, both sides covered, not like we are a business that builds oil rigs.

Average i think is £1.59 sold previously at 190p in august!
Look how little wood group moves...
However another competitor to look at is Saipem, our share price mirrors theirs YTD with falls of 70%

[coppers] 23/9/2020 14:40

What on earth is going on with this share? Mid august they were £1.80!

[hraj] 23/9/2020 14:31

Down to 119..not looking good still weak. Terrible shame as I see nothing wrong with the business fundamentally.

[technowiz] 21/9/2020 22:34

who knows. oil price could quite easily drop 10% from here. it got a massive rise over the week or so. and its only reversed half that gain so far.

[hraj] 21/9/2020 11:16

I've bough at 125 bringing average to 158. But this is looking weak as fk. Pretty much all time frames looking weak. Not help by lack of demand for crude and oil sector being super bearish since covid.Not sure where the slide will stop but in paper yes worth a hell of a lot more than 150s I paid. Hopefully will see a recovery but looking likely to see nearer a pound before a reversal is on play.

[topazfrenzy] 21/9/2020 09:30

keep adding :)

[topazfrenzy] 21/9/2020 09:18

Bloodbath across the Europe too, I doubt the tories have control over that lol

[fuji99] 21/9/2020 08:35

OCADO was extensively subjected to shorting around £3. The share price then spiked up to over £10 to reach the level where we are today £28. Every shorter lost an arm and a leg. The same could happen here too.

[topazfrenzy] 21/9/2020 08:34

Feels like capitulation manipulation before it switches direction?

[topazfrenzy] 21/9/2020 08:33

Shorters in control, topped up, thank you

[computercoders] 21/9/2020 08:03

I just topped up. Wow 131

[timmy11] 21/9/2020 07:47

blackrock is a scourge on the uk stock market

[wallywoo] 19/9/2020 19:16

Looking closely at these trades I see that BlackRock increased their short by 1.16 percent, 4m shares yesterday to over 3 percent.

It's a incestuous world, BlackRock have close ties to UAE and the £1b cancelled contract in April (Adnoc). Owning 40 percent of their pipelines.

Not sure we will here what is going on or why, but certainly interesting. BlackRock are also a shareholder too.

[wallywoo] 19/9/2020 10:48

I am not sure that 10m shares traded means nothing. It's the highest volume for 18 months. Be interesting which way this turns next week.

[fuji99] 19/9/2020 08:13

Other possibility is that shorts start closing.

[d1nga] 18/9/2020 20:14

It was the uncross trade in the auction means nought, and even it was a normal buy trade it would mean someone was happy to let them go at that price too

[fuji99] 18/9/2020 17:13

A large buy of 6.7 million shares went through at close: 18-Sep-20-- 16:35:23--136.40--6,733,781--Buy*--135.05--135.80--9m

[pogue] 18/9/2020 14:34

fuji
trouble is they do have a choice and they are choosing not to restart. The media and opposition parties in the UK seem to be determined to scare us into another lockdown. Israel has gone back into lockdown. Where there is a choice the elected politicians seem to be taking the safe option of ruining the country to ensure they cannot be blamed for the virus. There are exceptions of course but generally thats what is happening. Not that anything was close to normal anyway if you go out and about in London there is not a lot of what I would call normal life happening.
Should add the numbers are not good either pre CV19 demand was 105 mbpd with about 5 mbpd in cuts from OPEC so supply 110mbpd. Now demand is about 90 mbpd and production is around 92 mbpd and cuts are around 10mbpd plus a lot of mothballed production that can come online when the price rises so we are vastly over supplied with not much cut off the oversupplied market we went into CV19 with. Very little shale has come permanently off line for the simple fact once a shaler goes bankrupt the new owners are the former debt holders so they need it to produce oil to get their money back only now the company has no debt so can produce at a lower price as they dont have interest payments.