Zacks Investment Research cut shares of Petrofac Ltd (NASDAQ:POFCY) from a hold rating to a sell rating in a report issued on Tuesday.

According to Zacks, “Petrofac Limited is an oilfield service company serving the oil and gas production and processing industry. It operates in four segments: Onshore Engineering & Construction, Offshore Projects & Operations, Engineering & Consulting Services and Integrated Energy Services. The company has operations primarily in the United Arab Emirates, the United Kingdom, Turkmenistan, Malaysia, Algeria, Kuwait, Qatar and other countries. Petrofac Limited is based in St Helier, the Channel Islands. “

Petrofac (NASDAQ:POFCY) opened at 5.47 on Tuesday. The firm’s 50-day moving average price is $5.43 and its 200-day moving average price is $5.66. Petrofac has a 12 month low of $4.45 and a 12 month high of $7.25. The firm’s market cap is $3.72 billion.

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