Royal Bank of Canada upgraded shares of Petrofac (OTCMKTS:POFCF) from an underperform rating to a sector perform rating in a research note issued to investors on Thursday, Briefing.com Automated Import reports.
A number of other analysts have also recently issued reports on POFCF. Goldman Sachs Group reiterated a neutral rating and issued a $36.00 target price on shares of General Motors in a research note on Tuesday, March 26th. Morgan Stanley set a $35.00 target price on shares of Tenaris and gave the company a buy rating in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold.
OTCMKTS POFCF opened at $5.50 on Thursday. The company has a 50 day simple moving average of $5.38. Petrofac has a 12-month low of $4.79 and a 12-month high of $8.80.
Petrofac Limited, an oilfield service company, provides facilities solutions to the oil and gas production and processing industry worldwide. The company operates through three segments: Engineering & Construction; Engineering & Production Services; and Integrated Energy Services. The Engineering & Construction segment provides engineering, procurement, construction, installation, and commissioning services to the onshore oil and gas industry.
Read More: What does an equal weight rating mean?
Receive News & Ratings for Petrofac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petrofac and related companies with MarketBeat.com's FREE daily email newsletter.