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Max share borrowing is 10%
10% drop in last two trading session. So that 20% shot up last week is really 10%
What’s this in old money?
Few long term holders like myself have been adding for the past few sessions as we see value now.
Before the herd and brokers reassess.
I have sent my conference call recording to my broker to look through over holiday.
I’m sure they will look and reassess.
£20k buy
Wonder who that was ☺️
In my books , it’s simply not on.
Being happy on someone is loss.
It come back.
Like how these greedy hedge funds got punked on 4th and 20th Dec.
Have no doubt there wi renewed interest here and more contracts wins.
I feel for people who sold at 20/15p with all those nonsenses. Big losses or small, nevertheless a loss. Their money was wasted listening to people like these.
Better filtered. Informed posters and productive discussion is what we want.
Pfc has turned a corner. That is all.
Shorters have to get rid of those shares for a bigger squeeze
With the projects and workforce and company of size , 200mil is a joke!!
Keeping plugging is one of those keyboard warriors
Sorry pal I’m accumulating.
I see one or two peeking their head up lol what farce
Thanks G
I want people to make sure the content is not lost and companies profile is not lost here with daily sp action and naysayers.
Regards to funding, I think it will be announced maybe in march along with trading update.
By then I expect this to be well In 60s as minimum.
I think the deal will be much close to £1 than 30p+
The backlog and future contract coming next year is too big to have measly equity price. It’s not worth for the company.
US funds love distressed assets. An fund will easily pick these up under AUM which are usually in billions.
*always stating
Benchmark is 40 or just under.
Downbutnotout, I thought you were a price guru??!!! Also stating it ???!!
No???!!
Tareq Kawash, Petrofac's Group Chief Executive, commented: "Our focus on rebuilding the backlog and unwinding historic working capital has resulted in tangible progress against our organic plan to strengthen the Group's financial position. "To further accelerate progress, my near-term priority, and that of our Board and leadership, remains on improving liquidity and materially strengthening the Group's balance sheet, to deliver on our long-term potential. "We are completing contracts in the legacy portfolio as planned, we continue to deliver well in the initial phases of the contracts awarded in 2023, and, as a result of excellent order intake, we enter 2024 with a high-quality backlog in both traditional and renewable energy of approximately USUSD8 billion. This provides us with good revenue visibility and demonstrates the continued confidence customers have in Petrofac's delivery."
BACKLOG AND OUTLOOK: -- Exceptional new order intake(2) across both E&C and Asset Solutions, totalling approximately USUSD6.8 billion in the year-to-date, with Group backlog(3) expected to be approximately USUSD8.0 billion at the end of the year. -- Robust business outlook underpinned by strong backlog and a healthy Group pipeline scheduled for award in the next 18 months of USUSD62 billion, including the remaining projects in the TenneT multi-platform Framework Agreement
COP28 awards to come in Jan onwards. I hear more green project tenders being worked on
Spoke to a floor trader this morning.
Apparently funds can hedge to get out. So the 2200, 4400, 6600 shares you see are auto sells to keep price down for a large exit buys.
Yesterday it was in 2100 shares sell or multiples of.
The shorting funds are obviously buying it back. Just not reported. He also said small companies don’t report /declare their positions when they are stil offloading . Cut off is 5-10days of notice
I finally got some funds to buy. I have been accumulating since Christmas. I hoping to bring my 120+p avg down to a reasonable level and have exit for 12-18months.
I’m sure pfc will be bought up then
39.1 to buy
1 billion = 1000 million
So everyone knows.
We keep throwing $6.6billion (=6600 million) backlog for 2023 won by company and more billions for 2024 etc. imagine the profit they make from these contracts . In O&G contracts , companies makes 10- 20% profit
How is pfc 200million mcap?
Sp predictions are for losers pal