Zacks Investment Research Downgrades PETROFAC LTD/ADR (POFCY) to Sell

Zacks Investment Research downgraded shares of PETROFAC LTD/ADR (OTCMKTS:POFCY) from a hold rating to a sell rating in a research note published on Wednesday morning.

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. “

Several other equities research analysts have also weighed in on POFCY. Jefferies Financial Group raised shares of PETROFAC LTD/ADR from a hold rating to a buy rating in a report on Monday, January 7th. ValuEngine lowered shares of PETROFAC LTD/ADR from a sell rating to a strong sell rating in a report on Saturday, November 10th. Finally, JPMorgan Chase & Co. lowered shares of PETROFAC LTD/ADR from an overweight rating to a neutral rating in a report on Monday, February 11th.

Shares of POFCY stock opened at $2.85 on Wednesday. PETROFAC LTD/ADR has a 52-week low of $2.39 and a 52-week high of $4.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.10 and a quick ratio of 1.10.

PETROFAC LTD/ADR Company Profile

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 Jersey, the United Kingdom.

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