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Petrofac - service supplier to oil/gas industry (PFC)     

cynic - 31 Jul 2006 16:46

Chart.aspx?Provider=EODIntra&Code=PFC&Si



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.

Stan - 15 Jan 2016 12:56 - 635 of 839

I didn't ask you for your opinion as to a buy or sell for PFC just what the link stated I.E have they gone above or below that stated 6%.

What is up with you today? -):

cynic - 15 Jan 2016 14:48 - 636 of 839

sorry - they have increased their holding by 2m shares

thought you were asking whether PFC was a buy or a sell

Stan - 15 Jan 2016 16:03 - 637 of 839

That's all right.. your apologies are excepted -):

2M eh, interesting.

Stan - 17 Jan 2016 21:05 - 638 of 839

With PFC having interests in the Middle East, Operational centres in the UAE, with projects and support in Kuwait, Oman, Qatar, Saudi Arabia and Iraq is it feasible that they may feel it advantageous to venture into Iran now at some stage?

That Deutsche Bank purchase came before the Iran news of an agreement, I wonder if DB may have had a tip off.

Stan - 17 Jan 2016 23:25 - 639 of 839

Come on Alf your supposed be our Oil expert around here.. so what do you think about the above?

Stan - 18 Jan 2016 09:38 - 640 of 839

TTT for Alf.. now that he's finally crawled out of bed.

cynic - 18 Jan 2016 09:44 - 641 of 839

iran
it did cross my mind over w/e that PFC's expertise might well be in demand in iran
however, it will remain a very difficult place in which to trade/work for a good while yet, not least because iran will be very short of hard currency

personally, i am disinclined to buy into any stocks in the present climate, which i do not see improving much if at all during 2016

Stan - 18 Jan 2016 10:01 - 642 of 839

Thanks, Thats my thinking but with one caveat I did hear that Iran have a lot of money tied up abroad that was frozen.

So if that's true and that money can be released in an early timeframe then PFC might well be in there if the obvious difficulties become manageable.

But again I very much agree with your last sentence about the outlook for 2016, my only positive thought though was that purchase by D B.

cynic - 18 Jan 2016 10:10 - 643 of 839

safer haven is perhaps BATS or IMT

with regard to iran, i am talking to some contacts of mine to see what business we might be able to do there ..... however, even if we get the offer of any contracts, we'll certainly be making doubly sure that we will get paid

Stan - 18 Jan 2016 10:13 - 644 of 839

Absolutely, and that you can get out safely I would have thought.

HARRYCAT - 18 Jan 2016 10:13 - 645 of 839

Might be sensible to start with pro-forma terms before offering credit. Can't see any way of getting your money if they default in any way!

cynic - 18 Jan 2016 10:22 - 646 of 839

we're a leasing company, so much more tricky
selling is easy! ...... i've got it; you want it; give me the money and you can have it!

Stan - 18 Jan 2016 10:30 - 647 of 839

Back to my original point, DB buying 2m shares (I know it's small beer to them) but could that be that they may know something that the market does not?

Also I am assuming that PFC are nothing to do with leasing in Iran if indeed they did commit to doing work in that country?

cynic - 18 Jan 2016 10:37 - 648 of 839

no PFC are not a leasing company - it was a mere digression

PFC's contracts must take a good while in the incubation, but i'ld be surprised if they did not already have out feelers and more in iran

Stan - 18 Jan 2016 10:43 - 649 of 839

Thanks, one to watch then (as always).

cynic - 18 Jan 2016 11:00 - 650 of 839

i already hold them - at a fair loss i'm afraid - but shall keep the faith

HARRYCAT - 08 Feb 2016 11:42 - 651 of 839

Nomura seem pretty upbeat:
"Petrofac (Buy, 850p TP): offers good value in the context of structural growth in Middle East spend and an improved returns outlook as capital intensity falls (2017E P/E: 7.4x; vs sector: 13.0x)."

HARRYCAT - 08 Feb 2016 11:42 - 652 of 839

Though Goldman Sachs seem less optimistic:
"We downgrade Petrofac to Neutral from Buy on receivables build-up risks and a more moderate outlook for order intake in the Middle East."

Stan - 17 Feb 2016 09:45 - 653 of 839

Deutsche Bank AG go below 6% http://www.moneyam.com/action/news/showArticle?id=5214822

Stan - 24 Feb 2016 07:17 - 654 of 839

Final results: http://www.moneyam.com/action/news/showArticle?id=5218972
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