|Bid||540.00 x 93700|
|Ask||582.00 x 159300|
|Day's Range||550.00 - 570.00|
|52 Week Range||395.95 - 660.00|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 29, 2018|
|Forward Dividend & Yield||0.28 (4.85%)|
|1y Target Est||8.34|
The cyclicality of the energy industry makes it hard for income investors to find high yielding stocks. However, as oil rebounded from its multi-year lows, certain energy companies are inRead More...
Britain's top stock index dipped on Monday as trade tensions between the United States and China kept the pressure on equity markets across Europe, weighing on multinational companies. The FTSE 100 fell 0.03 percent to its lowest since May 30 but substantially outperformed other European stock markets. Strong energy stocks underpinned the FTSE 100, while a weaker pound also boosted the index's mainly exporting companies.
Oilfield service companies have been seeing a recovery in orders after subdued oil prices since mid-2014 forced explorers and producers to cut capital expenditure and defer or cancel contracts. Petrofac said in late June last year that order intake had reached $1.7 billion. The SFO began an investigation in May 2017 into the activities of Petrofac and its units in connection with a probe into Monaco-based Unaoil on suspected bribery, corruption and money laundering.
Oilfield services provider Petrofac Ltd has hired investment banks Barclays and HSBC to help with the sale of its oil fields in Mexico, as it prepares to scale back its oil and gas production operations, several banking sources said. Petrofac, which designs, builds, operates and maintains oil and gas facilities, expanded into oil and gas production projects during the oil price boom earlier this decade.
Petrofac Limited (LSE:PFC), an energy company based in United Kingdom, saw a significant share price rise of over 20% in the past couple of months on the LSE. As aRead More...
Moody's Investors Service, ("Moody's") has today changed to stable from negative the outlook on UK-based Petrofac Limited's ("Petrofac" or "group") ratings. At the same time, ...
Petrofac Chief Executive Officer Ayman Asfari has acquired 10 million pounds of shares in the oilfield services company, a regulatory filing shows. Asfari resumed full duties this month after being suspended in the wake of an investigation launched in May by Britain's Serious Fraud Office (SFO) into Petrofac activities in connection with a probe into Monaco-based Unaoil over suspected bribery, corruption and money laundering. The company said last month that its top management, including the chairman and executive directors, would be interviewed by the SFO.
Petrofac Limited signs binding letter of intent for a contract worth around $580 million with a GCC National Oil Company, for the engineering, procurement and construction of a 'major' project.
A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. Petrofac Limited (LSE:PFC) has returned to shareholders over the pastRead More...
Britain's Serious Fraud Office (SFO) began an investigation in May into the activities of Petrofac and its units in connection with a probe into Monaco-based Unaoil on suspected bribery, corruption and money laundering. Last month, the company said its top management, including chairman and executive directors, would be interviewed by the SFO.
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times Activist investor Elliott Management ...
Schlumberger (SLB.N), the world's largest oilfield services firm, and smaller peer Subsea 7 (SUBC.OL) said on Friday they were entering exclusive talks to form a joint venture to deliver subsea installations and services for oilfields. The news lifted Subsea 7 shares on hopes the talks could be the first step towards a full takeover, in a sector that has already seen consolidation with the 2016 merger of Technip and FMC Technologies (FTI.N). In recent months, oil firms have returned to profits due to higher oil prices and the benefits of deep cost cuts they made during the downturn.
Given the energy industry’s dependence on commodity prices, the sector tends to be cyclical and profitability can be highly variable. However, as oil prices recover from lows in 2014, energyRead More...
Italy's National Commission for Companies and the Stock Exchange (CONSOB) will have seven days following service by the UK court to apply to set aside or vary the judgment. CONSOB last August imposed sanctions on Asfari, including a 300,000 euro fine, in relation to 2012 dealing in shares in an Italian company. "I welcome today’s ruling from the High Court which confirms, as I have stated from the outset, that I was never served the CONSOB notice of charges against me, and consequently I was never given the chance to defend myself," Asfari said in the Petrofac statement.
The cyclicality of the energy industry makes it hard for income investors to find high yielding stocks. However, after the 50% plunge in oil prices in 2014, energy companies areRead More...
Oilfield service companies had been hurt by weak demand as subdued oil prices forced exploration and production companies to cut capital expenditure and defer or cancel contracts. Petrofac, which designs, builds, operates and maintains oil and gas facilities, said it secured $5.2 billion in new orders so far this year and it continued to see a high level of tendering activity in its core markets. The company said backlog stood at $10.3 billion at Nov. 30, reflecting a recovery in new order intake, offset by progress on existing portfolio of projects.
BP's award of $800 million for CPF at the Khazzan Phase 2 gas development in Oman to Petrofac includes the addition of a third gas train with a capacity for handling 500 mmscfd.
The contract involves work to help drive an increase in total production capacity from the central processing facility to 1,500 mmscfd (million standard cubic feet per day), Petrofac said. Petrofac also worked on a $1.4 billion project for the first phase at the Khazzan project. BP said in September it had begun production at the Khazzan gas field, the sixth and largest of seven new upstream projects that were due to start for the British oil giant this year.