Petrofac (OTCMKTS:POFCY) Stock Passes Below Fifty Day Moving Average of $0.75

Petrofac Limited (OTCMKTS:POFCYGet Rating)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.75 and traded as low as $0.73. Petrofac shares last traded at $0.73, with a volume of 1,065 shares.

Analyst Ratings Changes

POFCY has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Petrofac in a report on Thursday, May 5th. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their target price on shares of Petrofac from GBX 170 ($2.08) to GBX 180 ($2.21) in a report on Monday, May 23rd. Berenberg Bank raised shares of Petrofac from a “hold” rating to a “buy” rating in a report on Tuesday, May 3rd. Finally, Exane BNP Paribas raised shares of Petrofac from a “neutral” rating to an “outperform” rating and set a GBX 140 ($1.72) target price for the company in a report on Friday, April 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Petrofac presently has an average rating of “Buy” and an average price target of $160.00.

Petrofac Price Performance

The company has a debt-to-equity ratio of 1.58, a current ratio of 1.39 and a quick ratio of 1.38. The business’s fifty day simple moving average is $0.75 and its two-hundred day simple moving average is $0.78.

Petrofac Company Profile

(Get Rating)

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

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