Petrofac (OTCMKTS:POFCY) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Petrofac (OTCMKTS:POFCYGet Rating) from a sell rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.

According to Zacks, “Petrofac Limited is an oilfield service company serving the oil and gas production and processing industry. It operates in four segments: Onshore Engineering & Construction, Offshore Projects & Operations, Engineering & Consulting Services and Integrated Energy Services. The company has operations primarily in the United Arab Emirates, the United Kingdom, Turkmenistan, Malaysia, Algeria, Kuwait, Qatar and other countries. Petrofac Limited is based in St Helier, the Channel Islands. “

A number of other research firms have also weighed in on POFCY. JPMorgan Chase & Co. upgraded Petrofac from a neutral rating to an overweight rating in a report on Friday, December 10th. Exane BNP Paribas upgraded Petrofac from a neutral rating to an outperform rating and set a GBX 140 ($1.82) target price on the stock in a report on Friday, April 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $140.00.

POFCY stock opened at $0.77 on Friday. Petrofac has a twelve month low of $0.62 and a twelve month high of $1.23. The stock’s 50 day moving average is $0.75 and its 200-day moving average is $0.84.

About Petrofac (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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