Zacks Investment Research downgrades Petrofac (OTCMKTS:POFCY) to hold

Petrofac (OTCMKTS:POFCY – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research rating released Thursday, reports.

According to Zacks, “Petrofac Limited is an oil services company serving the oil and gas production and processing industry. It operates in four segments: Onshore Engineering and Construction, Offshore Projects and Operations, Engineering Services and integrated energy consulting and services.The company has operations primarily in the United Arab Emirates, United Kingdom, Turkmenistan, Malaysia, Algeria, Kuwait, Qatar and other countries.Petrofac Limited is headquartered in St Helier, in the Channel Islands.”

Several other brokerages have also recently published reports on POFCY. JPMorgan Chase & Co. raised its price target on Petrofac shares from 170 GBX ($2.13) to 180 GBX ($2.26) in a Monday, May 23 research note. Berenberg Bank upgraded Petrofac shares from a “hold” to a “buy” rating in a Tuesday, May 3 research note. Exane BNP Paribas has upgraded Petrofac shares from a ‘neutral’ rating to an ‘outperforming’ rating and set a target price of GBX 140 ($1.75) on the stock in a Friday 8 research note. april. Finally, the Goldman Sachs Group assumed coverage for Petrofac shares in a Thursday, May 5, research note. They set a “buy” rating on the stock. Two research analysts gave the stock a hold rating and six gave the stock a buy rating. According to data from, Petrofac currently has a consensus rating of “Buy” and an average price target of $107.00.

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Petrofac stock opened at $0.95 on Thursday. The company’s fifty-day moving average price is $0.85 and its 200-day moving average price is $0.80. Petrofac has a 1-year low of $0.62 and a 1-year high of $1.23. The company has a debt ratio of 1.58, a current ratio of 1.39 and a quick ratio of 1.38.

Petrofac Company Profile (Get an assessment)

Petrofac Limited designs, builds, manages and maintains infrastructure for the energy industries in the UK, Algeria, Thailand, Oman, Kuwait, Iraq, United Arab Emirates, Netherlands and India. ‘international. It operates through three segments: Engineering and Construction (E&C); Asset Solutions; and Integrated Energy Services (IES).

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Analyst recommendations for Petrofac (OTCMKTS: POFCY)

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