PETROFAC LTD/ADR (OTCMKTS:POFCY) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of PETROFAC LTD/ADR (OTCMKTS:POFCY) from a hold rating to a buy rating in a report issued on Saturday, Zacks.com reports. Zacks Investment Research currently has $2.75 price target on the stock.

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. “

OTCMKTS:POFCY opened at $2.58 on Friday. PETROFAC LTD/ADR has a one year low of $2.27 and a one year high of $4.31. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50-day simple moving average is $2.41 and its 200 day simple moving average is $2.73. The firm has a market capitalization of $1.69 billion, a P/E ratio of 4.96 and a beta of 1.09.

The firm also recently announced a Semi-Annual dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.056 per share. This is an increase from PETROFAC LTD/ADR’s previous Semi-Annual dividend of $0.05. The ex-dividend date is Thursday, September 19th. PETROFAC LTD/ADR’s dividend payout ratio (DPR) is currently 42.31%.

About PETROFAC LTD/ADR

Petrofac Ltd. engages in the provision of services to the oil and gas production and processing industry. It offers engineering and construction; operations and maintenance; and training and competence. The company was founded in 1981 and is headquartered in St. Helier, the United Kingdom.

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