We would love to hear your thoughts about our site and services, please take our survey here.
Trading View is a serious website. They won’t be pasting fake articles. Not with the Reuters symbol plastered all over it. It’s on the wires, so blood will be on the carpet on Monday am. Why, oh why didn’t I sell on Friday. . .
Petrofac sinks to record low; analysts flag balance sheet concerns
Dec 1, 202311:54 GMT
PFC
−19.38%
** London-listed oilfield services provider Petrofac's
PFC
shares dive as much as ~24% to 16p - a record low
** Analysts, including at Berenberg and J.P.Morgan, are flagging balance sheet concerns
** Berenberg says PFC in "a precarious position", places it "under review", removing its rating and price target
** Berenberg says either liquidity improves and Petrofac delivers on its backlog or negotiations with lenders required, leaving equity holders potentially taking significant haircut
** J.P.Morgan says co struggling to source advance payment, performance guarantees from banks for its E&C contracts
** JPM says banks have to be comfortable with contractor's balance sheet before issuing the guarantee and that this appears to be an obstacle for PFC
** PFC's combined credit score - which measures how likely a company is to default in the next year on a scale of 100 (very unlikely) to 1 (highly likely) - was 1, LSEG data showed
** Shares have lost ~75% of their value so far this year
. . . question is, do I crystallise that loss or stick to my guns
Certainly NOT adding more now.
The BoD are either incompetent or too arrogant to care about PIs (or even IIs)
What an f’in shower of sh*t
. . . it’s not too difficult
A stunning lack of imagination displayed so far and poor pay-on-words-ability too 🤣😂🤣😂
Distillates of Petrofac
- Petrofacall
- Petrofacked
- Petrofraud
- Petrofellons
The list goes on . . .
Good. Now I have your attention.
Please desist from spamming the board with your “humourous” derivations of Petrofac.
What department (dept) are you going on about Fr. blah, blah. Hacket?
Or are you talking about debt?
A lack of basic grasp of English makes me doubt your intelligence and certainly your financial acumen . . .
Binned 🗑️
No holding position notifications
No RNS from mgt re funding, d4e, or capital raise through rights issue. Which they are bound by listing rules to do so if they are in process.
No papers from shorts outlining their rationale for the short positions they are holding. Which is normal if they believe that the company is no longer a going concern.
Currently the company is in a closed period. Effectively a news black out unless something is fundamentally wrong and it’s no longer a going concern - per points above.
PFC issuing £600m contracts to sub-contractors.
Fitch recently upgraded debt (9.75% bonds maturing Oct 2026)to BB
Bonds (debt) starting to pick up.
This is an extremely interesting situation and would make for an excellent case study when all is resolved. Well it would be if I wasn’t so heavily invested - been averaging down, have a little left in reserve still . . .
For me, this is a binary outcome now.
Holding firm.
GLA LTH 👍
Darren, from reading your posting history it is extremely obvious that you’re a shorter and in reality you’ve just opened a short position on PFC. Now you’re adding your voice to the doom mongers and naysayers to grift your sweaty ££££ . . .
Quite a simple web form to complete on their website. I have already reported what I believe to be market manipulation at best insider dealing at worst.
This is shocking manipulation IMO.
If enough of us report this abuse, the FCA may take a look.
But like many other ‘regulators’ it may amount to negligible outcome. At best, an after the fact rap on the knuckles for a hedge fund, leaving PIs stranded . . .
Esecallum - your post from 28 April was spot on . . . not . .
“ The 20 to 1 rights issue on Tuesday morning means the price will be 0.70/20=3.5 pence plus depradation of confidence = 2p !”
Another nitwit binned
🗑️
PFC is the 4th most shorted UK listed company currently.
Asos, Metrobank, and Kingfisher are ahead of us at the moment.
C’mon shorts - what are you playing at?
Make PFC 1st at something!!!! 😂🤣😂🤣
NM
Hat is the closed period in the UK?
In the context of the market abuse regime, the period of 30 calendar days before the announcement of an interim financial report or a year-end report which an issuer is obliged to make public according to the rules of the trading venue where the issuer's shares are admitted to trading or national law.
Not so scary really. They can’t do anything (director buys, statements) because they’re in closed period leading up to publishing results through Market Update on 20 Dec.
This is basic stuff. Surprised so many don’t understand this.
People need to do a 101 primer before being allowed in here
FFS - just post the link
If you really want an answer you could try calling the various hedge funds that are shorting PFC . . .
Doubt that they’ll actually give you an explanation though . . .
Just ride it out until 20th . . .
Shït or bust I reckon now
Https://www.shorttracker.co.uk/manager/astaris-capital-management-llp/
PFC are their sole bet. What amateurs. They’re gonna get butt-fckd when this goes stellar.
I’m gonna be selling popcorn and marshmallows to toast as the burn . . .
NM
Lovely to see, by the number “filtered” green messages I see in chat. Funny that they’re back again as soon as the SP has dipped slightly. . . Appears that the shorts are being layered in again at this level.
Ho, hum, just more for them to buy back soon enough as the price rises, which it will do soon enough. More fun and games will be played out before the update in December . . .
. . . the shorters do have a lot of stock to buy back . . .