Home Energy services Short-term stake in Petrofac Limited (OTCMKTS:POFCY) increases by 107.7%

Short-term stake in Petrofac Limited (OTCMKTS:POFCY) increases by 107.7%

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Petrofac Limited (OTCMKTS: POFCYGet a rating) saw a sharp rise in short-term interest in June. As of June 30, there was short interest totaling 107,400 shares, an increase of 107.7% from the June 15 total of 51,700 shares. Based on an average daily trading volume of 13,000 shares, the day-to-cover ratio is currently 8.3 days.

Petrofac price performance

Shares of POFCY opened at $0.56 on Friday. Petrofac has a 12-month low of $0.56 and a 12-month high of $1.23. The company’s fifty-day simple moving average is $0.81 and its 200-day simple moving average is $0.80. The company has a debt ratio of 1.58, a quick ratio of 1.38 and a current ratio of 1.39.

Analysts set new price targets

A number of equity research analysts have published POFCY stock reports. JPMorgan Chase & Co. raised its price target on Petrofac shares from 170 GBX ($2.02) to 180 GBX ($2.14) in a Monday, May 23 report. Exane BNP Paribas upgraded Petrofac shares from a “neutral” rating to an “outperforming” rating and set a GBX 140 ($1.67) price target on the stock in a Friday, April 8 report. Goldman Sachs Group assumed coverage of Petrofac shares in a Thursday, May 5, report. They issued a “buy” rating on the stock. Finally, Berenberg Bank upgraded Petrofac shares from a “hold” rating to a “buy” rating in a Tuesday, May 3 report. Six equity research analysts rated the stock with a buy rating. According to MarketBeat, Petrofac currently has an average rating of “Buy” and a consensus target price of $160.00.

Petrofac Company Profile

(Get a rating)

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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