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.

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!

Nice bit of profit taking at 14.20 by the boy Chedid the other day I see -):

Am I the only one trading this beauty then?

not now .... having neglected this gem for quite a long time, i have just bought in again ...... figures as usual were top class, but sp is quite a lot off its all-time highs ..... very unlikely to be a firework stock, but should certainly remain a very good performer for the foreseeable future

this won't hurt either ...... Petrofac started with buy rating at Investec, target price 1705p

http://www.moneyam.com/action/news/showArticle?id=4182050

Another few bob in the old bread basket.

Trading update being well received so far by the market..Up over 2% at the mo.

This is one company that I am pleased to hold in these uncertain times.

Questor share tip: Worth tapping into Petrofac as profit forecasts grow




Garry White, 7:06, Wednesday 14 December 2011

Oil services group Petrofac yesterday upgraded its net profit growth guidance for the full year to 20pc from 15pc.

Petrofac 14.43 +70p Questor says BUY

This was largely priced in. Analysts had already expected that the group would beat this target, although the upgrade is slightly above analysts' expectations.

Petrofac designs and builds oil and gas infrastructure, trains oil field staff and maintains facilities. It also invests alongside producers in oil fields.

The company's stated aim is to more than double 2010 group earnings by 2015 and yesterday's update has shown that things are on track. Petrofac's order book has edged lower since its last update. It is expected to be $10.6bn (6.8bn) at the year end, compared with $11.7bn at the end of December 2010. However, this followed a massive order in Turkmenistan at the end of last year worth $3.4bn.

The group has a strong pipeline of new opportunities at its engineering, construction, operations and maintenance unit and its integrated energy services division. The company has highly skilled technical staff and is well placed in locations such as the Middle East to bring these skills into partnership with national oil companies (NOCs). Also, the company won two onshore production-enhancement contracts in Mexico, where the group will help increase recovery from existing oil fields. In all, three contracts were tendered by the Mexican government, with Schlumberger (NYSE: SLB - news) winning the other contract. More tenders are expected next year.

Petrofac now expects to end the year with about $1.3bn in cash. About $400m of this is money that clients have advanced. Although the business is investing for growth, Tim Weller, chief financial officer, told Questor yesterday that the group expected to remain in a net cash position for the next few years despite this investment.

Shareholders shouldn't miss out too. The company's stated dividend policy is to pay out 35pc of net income. With revenues and profits rising over the next few years, this would imply the dividend will grow sharply. The shares are currently yielding a prospective 2.7pc in 2012, rising to 3.3pc in 2013.

Petrofac shares are up 208pc since the first recommendation on March 10 2009, at 468p, compared with a market up 47pc. The shares have been rated a buy as high as 14.10, which is below the current share price.

The above gain excludes the shares of EnQuest (LSE: ENQ.L - news) , which was demerged from the group and combined with some of Lundin's assets in April.

Shareholders should have received one share in EnQuest for each share in Petrofac they owned. These are worth 90.1p apiece.

The City is resoundingly upbeat on Petrofac's prospects, with the average price target of the 13 analysts monitored by Bloomberg being 17.40.

The shares remain a buy.

if you think the markets are now looking a bit o'sold, then PFC makes an interesting bet with sp just bouncing off 200 dma .,.... it's a really good company too and in the right sort of sector

and it has done very well since the last post - was then 1411 and now 1489

Down well over 4% so far, unusual.. any ideas?

JP Morgan Cazenove Downgrades to Neutral

Thanks Skinny, that might explain.

Petrofac lost power with scribblers turning cautious on the oil services company.

Petrofac, which designs and builds oil and gas infrastructure, trains oil field staff and maintains facilities, also invests alongside producers in oil fields. The City is generally upbeat on its prospects, but Petrofac cooled as JP Morgan Cazenove cut its rating to “neutral” from “overweight”.

“Despite a strong bid pipeline in engineering and construction which is well flagged, we see nervousness building with respect to the achievability of 2013 revenue,” said analysts.

“With earnings confidence resting on revenue and the awards from which it is derived, the $8bn (£5bn) of orders which we estimate are required to reach consensus forecasts for next year is starting to look aggressive,” they added.

Although the broker stressed that it was still “very positive in the long term” on Petrofac, the company slid 64p to £14.40.

Finals on Monday, looking for an uplift in SP but profit taking a short term possibly as usual. Either way PFC is a winner for me.

.

not inclined to sell ahead of the figures, though a dip is on the cards = selling on the news ... may even use that as an opportunity to top up, for it really is a very well run company

http://www.moneyam.com/action/news/showArticle?id=4321927

Another cracking set of results but £16 still the limit these days SP wise, a very nice 25% rise in Dividend though, see if it can break that ceiling before Ex,divi day.