Zacks Investment Research Lowers Petrofac Ltd (POFCY) to Sell

Zacks Investment Research lowered shares of Petrofac Ltd (NASDAQ:POFCY) from a hold rating to a sell rating in a research report released on Saturday.

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. “

Petrofac (NASDAQ:POFCY) opened at 2.63 on Friday. The stock’s 50 day moving average price is $3.70 and its 200-day moving average price is $5.05. The firm has a market cap of $1.79 billion and a price-to-earnings ratio of 1753.33. Petrofac has a one year low of $2.20 and a one year high of $5.93.

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