On 3rd July PFC announced that it was trading well ahead of expectations. Not surprisingly, sp jumped but has now fallen back pretty much to the same level as before the announcement.

While perhaps not as exciting as finding the next Cairn, remember that in the goldrush days, it was rarely the prospectors who made the money, but rather the suppliers of the spades and tents and stuff - e.g. Levis if memory serves me aright.

Yes, sound and diverse oil service business with upside from exploration and production!

time to add a chart



Green line = 200 dma
Red line = 50 dma

Excellent steady upward progress ...... often beats the frothy rockets like GOO and CHP, both of which I also hold, but more moderately

Cynic

thats a very nice looking chart.
I bought in some weeks ago and am very comfortable with price movement.
I think we shall see it test the high of 372, maybe this coming week, and it may or may not go through, i dont know, but in either event i shall be holding and look to hold this for long term.
I think a high followed by a retracement and a few weeks of consolidation would actualy be a very good sign of strength to follow.as you say beats the frothy rockets and i couldnt agree more.( hope this doesnt become frothy, nice description that)
all my opinion, of course.
best regards

ramp ramp ramp, if you are unkind ...... facts are tick tick tick upwards ..... for sure there must be some bad days too, but the performance speaks for itself

cynic whats all this about? do you think i was ramping?
it wasnt my intention.Just offering my opinion on what i consider to be a very good stock to be holding.
best regsrds

not you, you chump! ...... pointing a hypothetical finger at myself

oh! i see, whoops! sorry.
regards

call me a ramper if you insist, but cannot belive you guys are so focussed on just spivvy stocks ..... today's rns below


Petrofac Limited, the oil & gas facilities company, said it has been awarded a 200 mln usd lump sum engineering, procurement and construction contract from Khalda Petroleum Company (KPC) to build a new gas processing facility at the Salam area in Egypt.
KPC is a joint venture between Apache Corporation and Egypt's General Petroleum Corporation.
The project is scheduled for completion before the end of 2008.
The project reportedly covers project management, as well as the detailed design, procurement, construction, start-up, performance testing and the initial operations.

and yet another juicy contract rolls in ...... expect further sp upward momentum today


HASDRUBAL GAS PLANT CONTRACT AWARD IN TUNISIA
Petrofac, the international oil & gas facilities service provider, has been
awarded a US$400 million lump sum turnkey contract by BG Tunisia Limited (BGT)
and Entreprise Tunisienne D'Activites Petrolieres (ETAP), the Tunisian
state-owned oil and gas exploration and production company, to build the new
Hasdrubal onshore gas processing facility and the liquefied petroleum gas (LPG)
production facility. The facility will be located on the Tunisian coast between
La Skhira and Sfax in Tunisia and is scheduled for completion in 2009.

A lot can happen in a week.
I know i said i would hold in either event but
Pride comes before a fall.
so i am now invoking that golden right that is available to all of us i.e. the right to change my mind.
as a precautionary measure i have placed a stop loss on 50% of my holding at 341 to take a reasonable profit.
im still looking to hold the other half for the long term,market permitting, and have a stop running at a little above cost, as i dont want to get "stuck" or "trapped" into a stock that keeps going lower, although i dont believe it will and hopefully ill still be aboard for the ride.
thats it, i'll let the market decide now.
all my opinion , of course.
regards

i keep drawing this company to everyone's attention and will do so again ...... read today's announcements and you will understand why ...... why do so many "friends" on this site seem so blind to quality over (relative) junk?

Cynic, I agree with you regarding this Company. It is also evolving from a support services player to a production role in some areas. The geographic spread, UK, Middle East and Far East are all showing positive results.

I started investing in this stock in August 2006 and have been adding periodically.

Looks like we are going to end the year breaking 400. Having started in January 2006 at 260-ish, and really only taking off in the second half of the year, thats a very nice rise.

Any predictions for 2007 ?

Happy New Year to all when it arrives !!

no predictions on this one, but was confident enough to buy some more a couple of days ago

Cynic, Oil service companies are all the rage at the moment because of increasing demand with better visibility of revenue growth compared to oil shares. However, some including this one, are starting to look a bit pricey on forward earnings. They will need to keep beating expectations just to maintain this rating. I have a high exposure here at the moment built up at lower prices, but will be looking to reduce at the first sign of slowdown in revenue and earnings. My biggest investment in this sector is Hunting which I accumulated between 1.30 and 3. Even at the current price, P/S is not very demanding with more scope to grow margin and hence earnings. DYOR

canary ..... PFC's forward order book is absolutely bulging ..... unless something untoward happens in 2007, the company (and thus the share) looks to have very solid growth ahead of it for a while to come.

Cynic, my principle that has served me well is that ' if they were a good buy at 2 say, then when the share doubles they are not such a good buy, and it's time to take some profit and reduce exposure'. Depending on the news flow ,the prospective P/E and P/S, and my exposure, that could be anything from 10% to 50% of my holding. Not that they are a bad share, but the downside risk has increased, while there is less upside to go for. When the newsflow turns less encouraging, I'm out!

For the moment the newsflow around service companies continues to be bullish and I am not selling, but neither am I buying much, as I have met my weighting for oil service companies. One or two small ones in niche areas such as Hallin Marine and Velosi may still be worth a gamble imo..... perhaps will show faster growth and not on too high a rating.....could also be acquisition targets. DYOR

there is another argument that when a share has a strong upward trend, that it will maintain it ..... though that is not to say that one should not perhaps put in place a trailing stop.

put slightly differently ..... a quality share, as opposed to one merely followed by the headlomng lemmings, will double and maintain that trend because the company continues to show strong growth and profitability .... until that changes, it is possibly or even probably not the right time to switch horses.

we shall see!

Bit of a dip in January but looking up now, and back above 400 again. Hope it holds this time.

What's everyone's expectations with this one at the moment? Its got good momentum and in its in a booming industry with a strong orderbook. However, P/E is looking a bit heavy at 22. How far is it gunna go before a correction?