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.

Tempted to sell once the divi date has passed as this rise can't go on like this forever!

"Petrofac downgraded to underperform from neutral at BoA Merrill Lynch, 930p target held"
Business Financial Newswire

Nowadays : you have to sell before the exdividend date, because the sp drops far more than the dividend is worth.

Great, now you tell me! ;o)
However am expecting a bounce, so will put a limit sell on the system & hope for the best.

"US investment houses Goldman Sachs and Merrill Lynch dealt oilfield support services group Petrofac a double-blow on Friday with some bearish comment.

Merrill Lynch has downgraded Petrofac to underperform from neutral, with a price target of 930p."
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..Oh they do go on don't they -):

depending on general market conditions, a bounce at 930/935 looks a distinct possibility - always assuming you rate the stock

Sold this morning at 958p, so have got a little profit plus the divi.
I wonder where the brokers will send it once it gets to 930p?

Well done H, that's the way to do it.

A lot of blue chips have pulled back....POG, HOC,HOIL,DGO to mention some....if oil and gold turn around again these and Petrofac will rise again....market overall has done very well as of late so a little pullback was bound to happen, nothing goes in straight lines...we must just hope there is not another crash around the corner (it doesn't look like it)....good weekend all !.

am looking for (at least?) another 100 point retrenchment on FTSE to a little below 5000

You might not get it...might stabilise around this mark for a couple of weeks....I think that this year we will get a christmas advance but at what point is just guesswork...

cynic we agree stats from US and elsewhere not good enough to justify any further advance for the time being.ioho.

"The Government is investigating a tax loophole that has allowed the North Sea oil industry to avoid paying hundreds of millions of pounds in national insurance contributions, the Times has learnt. The scheme, which has been exploited for years by scores of companies, including the FTSE 100 oil services group Petrofac, is depriving the Treasury of as much as 70 million a year, according to estimates from one of the worlds biggest accountancy firms."

PFC. (and some other in the sector) SPs unaffected so far.

clearly it was a legit loophole so nothing claimable by the gov't retrospectively ..... meanwhile, companies are likely to change their domicile or similar if gov't is going to get stupid

Superb results today. Still not expensive on fundamentals imo and dividend increase a bonus.

A spot of Director selling today which doesn't happen very often with these.. we all have living expenses so nothing unreasonable about that.

bought yesterday morning and with such a tasty profit already, and with sp perhaps getting ahead of itself, it was just too tempting ..... the bank manager will be pleased

And some more sold today: Michael Press, a Director of the Company, sold 120,000 ordinary shares of US$0.025 each in the Company (the "Shares") at 1173.65 pence per Shareon 11 March 2010.

Breakout.

it really is a first class company in the right sector ..... i haven't held it for some time, as can't determine what might be fair value ...... wish they'ld take out LAM though!