Petrofac Limited (PFC) Given Outperform Rating at Credit Suisse Group AG
Petrofac Limited (LON:PFC)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Suisse Group AG in a research note issued on Friday. They presently have a GBX 1,100 ($14.36) price objective on the stock. Credit Suisse Group AG’s target price indicates a potential upside of 20.75% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. Societe Generale raised shares of Petrofac Limited to a “hold” rating in a report on Friday, July 22nd. JPMorgan Chase & Co. dropped their target price on shares of Petrofac Limited from GBX 913 ($11.92) to GBX 900 ($11.75) and set an “overweight” rating for the company in a report on Wednesday, June 22nd. Liberum Capital reissued a “buy” rating and issued a GBX 1,000 ($13.05) price objective on shares of Petrofac Limited in a report on Monday, August 1st. Jefferies Group raised shares of Petrofac Limited to a “buy” rating and dropped their price objective for the company from GBX 855 ($11.16) to GBX 835 ($10.90) in a report on Wednesday, June 29th. Finally, Deutsche Bank AG initiated coverage on shares of Petrofac Limited in a report on Monday, July 11th. They issued a “hold” rating and a GBX 770 ($10.05) price objective for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 955.70 ($12.47).
Shares of Petrofac Limited (LON:PFC) opened at 911.00 on Friday. The company’s 50-day moving average is GBX 850.77 and its 200-day moving average is GBX 818.74. The company’s market cap is GBX 3.10 billion. Petrofac Limited has a one year low of GBX 635.00 and a one year high of GBX 1,016.09.
The firm also recently declared a dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, September 22nd will be given a dividend of GBX 0.22 ($0.00) per share. The ex-dividend date is Thursday, September 22nd. This represents a dividend yield of 2.06%.
About Petrofac Limited
Petrofac Limited is an international service provider to the oil and gas production and processing industry. The Company designs, builds, operates and maintains oil and gas facilities, delivered through a range of commercial models, enabling it to respond to the distinct needs of each client and enabling them to manage their assets across the oil and gas life cycle.
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