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Would also add that yes, lots of new names appearing here. Always a sign that a share is about to go north!
Agreed Wigwammer. A few here i think annoyed they not got in at the lower prices. As i see it the whole SFO saga is a nonsense. This all reminds me of the Bertie Smalls supergrass trials in the 70s when crims would just make up stuff to get lighter sentences. PFC have always denied any wrongdoing here! As i see it this is a share to load up on as much as possible while you can at the low prices. Throw it into the bottom drawer & leave for 5 years. Take out in 5 years & enjoys the fruits of your patience. Lots of swing traders here just wanting 10-20% profit then out. Each to their own i suppose!
Isn’t the idea to settle before going to court? That could drop tomorrow. A lot of newby bears arriving trying to push the fear buttons. The shorts should be worried cos a multi million usd fine is already baked in and then some - but what if the case is dropped altogether?! Ouch :)
winchpete. Not as simple as heads & tails. An RNS saying case closed could indeed drop at any time. A $400m fine one couldn't. The company has not been tried or convicted of any wrongdoing. Any extremely bad news will have to involve a lengthy court case which will take years. The upside here outweighs downside tenfold IMO.
This will hit 145 at some stage tomorrow. If OP goes beyond $70 it could test the 150/160s by end of week
Everyone who holds Petrofac should be concerned about the allegations.
As has been so well put there is a risk here and it’s a risk verses reward share.
In time in my opinion we will do extremely well which is why I’m a holder...Others see things differently. Just hold to the fact that everyone on these boards always talks their own game. No one knows how this will end we just have our thoughts, reasons and views..
Good luck..
i agree CHR155 this one for the gambler
if it hits 145-150 early next week i will be in for more
i bought in at lower price so i can afford to gamble a bit not to much but this has legs
The SFO and, as a result, the shorters have not given up yet. While it is clear the SFO has not found a 'smoking gun' during its 3 year and 9 month investigation, it is still possible it could find grounds to fine PFC. This is because the company benefited from contracts over a period of a few years years that were secured due to bribes arranged by a former senior manager. Back in January when the sp plunged, an analyst calculated that a 400 million fine would make the shares worth 70p. Just be aware, as those of us who are invested/gambling, that an RNS could appear at any time that will either see a big rise or a collapse in the sp. Heads or tails?
CHR155
But even at £2 there is a risk, like with all investments.... and there's always issues with any investment
Its the risk/ reward ratio which is very attractive here imo
Ccooper
They have cut a lot of costs for 2021 which would more than offest the reduced turnover imo
Also look at recent order wins which are not yet factored in future projections. Everyone expects a huge bounceback in 2021 world economy's as lockdowns are lifted post vaccine, which means more demand, and more energy consumption.
By 2023 the world economy should be roaring again and Pfc should be back to 300p imo
Gl All. DYOR
one bad apple can bring this down but im positive for the weeks to come
Thanks, both very valid and I agree. Are you concerned with this fraud accusation too? While it’s an individual, I wonder if they will get a slap on the wrist and a company fine? Projects looks very winnable within the year which is promising.
Don’t think any of us can comment with definite certainty....
The 2 things we can definitely say are...
1 Petrofac have stated winning contracts this year as per RNS and their web site.
2 There likely to be more projects planned this year than in any time in history.... There are several reasons for this,..Firstly there have been extremely low investment in new oil and gas projects in the last few years not withstanding last year which had the lowest investment in decades.
3 The Green / Renewable world is going bonkers and there is literally Trillions being invested in this over the coming years,,,,
Petrofac is a renowned world class company with several renewal projects already and an has a good record of winning major contracts.....
There are a few who are negative towards Petrofac but My thoughts are it’s an amazing investment.
Like any share investment it’s could go pear shape or could do great.....
This keeps coming up on my screener and I keep deep diving but am undecided. Obviously 2020 has been a terrible year but oil and gas is recovering- what I am trying to gauge though is how much of a lag their projects have vs oil price recovery. They mention only $3bln revenue is booked so far for 2021, can anyone see if that’s it or if there is potential to win more? And it seems longer term their pipeline is very good, tendering for loads as well as cutting costs. The balance sheet is decent, even with the new debt secured. May be a few years until it recovers properly depending on the lag / how the market reacts. What are peoples thoughts?