Petrofac Limited (PFC.L) 16-04-20
Petrofac Limited (PFC.L) shares have fallen significantly from the most recent highs of 394.6p. Will it continue, or is this an opportunity to pick some up?
- A return to previous highs would represent a rise of 146%. Now at 159.86p (at time of writing).
- This is one of the biggest fallers of late.
- Traders should consider whether it is down for good reason, or is this another over-reaction?
- Bargain hunters should be mindful of fundamentals and events, which can influence price action. Check our website and news outlets for updates.
- Shares -67% from 12-month highs; +-3% from 12 month lows.
08:23: Petrofac said that its Petrofac Emirates joint venture has had two recently awarded contracts for the Dalma installation terminated by Abu Dhabi National Oil Company (ADNOC).
09 Apr: UBS reiterates its neutral rating on Petrofac Ltd (PFC) and reduced the target price to 210p (from 400p).
07 Apr: Alastair Cochran, Executive Director, bought 37,749 shares within the firm on the 7th April 2020 at a price of 213.17p. This Director currently has 132,267 shares.
06 Apr: Petrofac, the oil services group, said it had cancelled its 2019 full year dividend as part of cost savings to help it withstand the coronavirus pandemic.
02 Apr: Rene Medori, Chairman, bought 10,020 shares within the firm on the 2nd April 2020 at a price of 199.60p. This Director currently has 38,649 shares.
26 Mar: Credit Suisse reiterates its neutral rating on Petrofac Ltd (PFC) and reduced the target price to 200p (from 390p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires