Petrofac Share Discussion Threads

[stalker_boy] 16/3/2021 09:57

JPMORGAN CUTS PETROFAC PRICE TARGET TO 130 (220) PENCE - 'NEUTRAL'

[halfpenny] 16/3/2021 09:54

PFC has greater issues as bank hammers prospect.... JPMORGAN CUTS PETROFAC PRICE TARGET !!!! Massive blow for PFC heading down 80p or less. So How Low How Soon??

[stalker_boy] 16/3/2021 09:51

halfpenny what do you mean no RNS from PFC?

[secretsqu] 16/3/2021 09:49

The bad news was yesterday. The drop was expected. But you know that.

[stalker_boy] 16/3/2021 09:48

Let's put some clarity on this;

In 2019 Lufkin pleaded guilty to 11 charges dating back to 2012. In order to wipe the slate clean he additionally pleaded guilty on 14 Jan 21 to three additional charge where the connection to the UAE comes into effect.

This is why ADNOC have now taken the action against the company and there should be no further ghosts in the closet as one would expect that if he wanted to consider three additional charges he may well have told the court about any further charges to be made.

Petrofac still adamantly state that they had no known connection to the bribes and this has to be proven to the SFO in order to bring about a case.

I have closed my short this morning as am convinced that this was the last of the bad news and there is recovery potential in the stock from this level.

[wardy333] 16/3/2021 09:46

Shorts keep lowering it a couple of pence in the closing U/T, with the Bots in action , you need really good buying strength to fight them off, they might start closing as well would not surprise me , could be near the bottom of the channel......who knows.

[halfpenny] 16/3/2021 09:44

No RNS from PFC about drop so more bad news about to be released. 80p or less soon as NO news is also Bad News!!!! What is brewing in the background - more unethical dealings and who is involved. Why would anyone have unethical shares beats me!!!

[bad robot] 16/3/2021 09:28

I am thinking £1 nominal takeover. Save all the employees and new complete management and rebranding. I am to say it's kaput.

All Genuine gamblers should consider their gambling on this dead duck. Shorters will not let this go now. Will close sub 100p and that will be new the norm.

BR
IN BR WE TRUST
Red Mercury Crew

[geckotheglorious] 16/3/2021 09:27

dealy
Post 16925 of 16978
"Why did the company even bother announcing this? If it's a dynamic situation (status to be reviewed periodically) then why report it?"

Because it is "MATERIALLY Price Sensitive" is why they announced it.

They had to.

Check the LSE listing rules.

[sbb1x] 16/3/2021 09:02

Mkt cap 350mThink about that

[w1ndjammer] 16/3/2021 08:54

i would guess PFC were spending shed loads of time and money quoting contracts

for the UAE and winning nothing, " being used as a marker "

guess they asked for clarification...................

WJ.

[topazfrenzy] 16/3/2021 08:52

The downside is another 20% while the upside could be an instant 100% if the SFO now put this case to bed ...

[topazfrenzy] 16/3/2021 08:49

We could get a resolution for all we know any time now so didn't want to miss out

as you say all the bad news is baked in now

[saltaire111] 16/3/2021 08:48

I just bought some. It’s a punt, but the bad news is in the price in my view.

Salty.

[halfpenny] 16/3/2021 08:47

PFC will hit 80p or lower soon as more news flow. Very Risky. Staying well away as too Risky once we hit 80p then its how low how soon.....

[topazfrenzy] 16/3/2021 08:47

I bought back some too at just over 100 , will add if it keeps going lower, which is likely

[rizler] 16/3/2021 08:47

Added. Silly price at these levels

[pec2004] 16/3/2021 08:41

Added too. UAE accounts for only 8% of PFC's business.

[w1ndjammer] 16/3/2021 08:30

Its been over 2 years since Petrofac has won and executed a contract from UAE

despite this their last trading statement was positive.

Shorters have had their fun, i am a buyer..........

WJ.

[sbb1x] 16/3/2021 08:24

Bottom in ?

[bad robot] 16/3/2021 08:22

Genuine Gamblers

BR personally perforated 100p support, broken the hymen.

BR
IN BR WE TRUST
Red Mercury Crew

[pepepepe73] 16/3/2021 08:21

This dog has no bottom near