veksi
22 Dec 2017
Shorts closing There is a lot of buying activity via shorts closing their positions. AQR is buying back. Their stake come down from over 5% short to 3.49%. I think they are feeling painful. Total shorts still stand at 7.7% so there should be more buying to come from these. Add the bargain hunters and it looks good.Delusional? Really.
Rock on warringah
21 Dec 2017
Re: Strong I put some in my pension around 430 - short term vol but great long term hold/ takeover target Happy Christmas allCheers
II Editor
19 Dec 2017
NEW ARTICLE: Stockwatch: This stock is fundamentally cheap "At around 460p, the @GB:MCX:FTSE 250 shares of oil & gas engineering and construction services group LSE
FCetrofac remain under a cloud as a Serious Fraud Office (SFO) investigation continues, mainly into the Unaoil bribery scandal. Yet this ..."[link]
shugg1e
19 Dec 2017
Re: Strong Looks to be on the cusp of a breakout to over 600p
Hub
19 Dec 2017
Strong It wasn't that long ago it was testing 400p levels and looking weak.Suddenly, it's testing 480p and looking strong.There are a bucket load of shorts in play and it's going to hurt a few if or when PFC breaks through 500p levels.It's been at 480p before and got slapped back down. We are post divi and testing 480p which suggests a stronger bias this time around.HUB
Hardboy
18 Dec 2017
Re: Pre Close Trading Statement "but will it last"As I've said many times, until the results of the SFO enquiry are known and what the effects on PFC will be, no one can really know what the correct value of the business is. From what we know about the business and its earnings then the sp still looks cheap, but no one really knows for sure. I'm sure short term traders may have some success playing trends, and any new contract wins may help raise the price, but anyone who is confident about where the sp is going longer term, is probably delusional. (Unless they work for the SFO.)
contrarianstyle
18 Dec 2017
Re: Pre Close Trading Statement finally some movement higher but will it last...or back down to 4.20 odd
veksi
14 Dec 2017
Re: Pre Close Trading Statement That is the order backlog Nov 30th.Ever since a billion $ worth of work booked so the quoted figure is lower than the actual.Also at 450 I do not understand your pessimism.Perhaps at £10 per share I would take your point but at these levels, put it into context of the low sp and high yield, the results are excellent.
Hardboy
14 Dec 2017
Pre Close Trading Statement it had a reassuring tone to it; and "We have seen a recovery in new order intake in 2017" & " Tendering activity remains high" both suggest PFC's markets have a positive outlook. They intimated that securing $5.2b orders during the year as positive, as is having a $10.3b backlog. However $5.2b is less than their annual turnover and the backlog is shrinking, so I don't see those figures as quite so positive. No mention of the SFO enquiry.
Contrariwise
13 Dec 2017
$980m of contracts in 2 days [link] way to go to get back to flat, but progress. Shares ludicrously undervalued at this price.
Hydrogen Economy
13 Dec 2017
Iraq Contract From PFC website, Not clear what PFC's role and scope in this is but it sounds a lot of scope for 160m if they are responsible for all of itH2[link] secures US$160 million award from Basra Oil CompanyPetrofac’s Engineering & Production Services (EPS) division has secured an award worth US$160 million from Basra Oil Company (BOC), previously known as South Oil Company, for its Iraq Crude Oil Export Expansion Project (ICOEEP). The new two-year extension reflects Petrofac’s continued delivery focus and five-year track record as the incumbent operations and maintenance service provider.The facility, which is responsible for a significant proportion of Iraq’s oil export, is located 60 kilometres (km) offshore the Al Fao Peninsula in Southern Iraq. It comprises a central metering and manifold platform and four Single Point Moorings which facilitate oil export onto awaiting crude carrier tankers. In addition, Petrofac is responsible for almost 300 km of subsea pipelines,1800 metres of subsea hose infrastructure and a marine spread comprising 14 vessels.Mani Rajapathy, Managing Director, Engineering & Production Services East, said: “We are delighted to continue with our role in support of this key crude export facility. Since the start of our involvement in 2012, we have exported more than 2.2 billion barrels of oil while retaining an impeccable safety record. We have also remained focused on adding value for our client through the deployment of innovative and differentiated solutions.”Ihsan Ismaael, Director General, Basra Oil Company, said: “Petrofac is a key partner for BOC. The team has supported us over the last five years to significantly increase export from the ICOEEP facility and we look forward to continuing our relationship into 2019.”
SpeederD
13 Dec 2017
Re: Why the rise? They've just picked up another contract for USD160m in Iraq......a good flow of news this week!
veksi
12 Dec 2017
Re: SFO case The sell rec from Nov 17th not looking too good at the moment.I think this was a sell at £9, not at 400-450p. Think I got that right? Buy low sell high.
veksi
12 Dec 2017
Re: Why the rise? I suppose it’s good that iii has a large pessimist representation, keeps things real.If it’s feel like we barely moved, it will though, and the move this week was pretty good. Although it’s only good if we now stay above 450p from now on.Nice to have an early RNS plus trading update on the same week. If the SFO thing ends up well this is a £10 stock, if badly it’s still worth £7-8 so lots of upside potential. Shorters help the market with these bargains sometimes. Each to their own.
Boyobach
12 Dec 2017
Re: Why the rise? contrarian: 'we've barely moved.'Schlumberger just about flat in London todayBP and RDS up about 1.4%, PFC up about 3.8% -
