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PFC - Doing very nicely thank you.

monabri
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Re: PFC - Doing very nicely thank you.

#84610

Postby monabri » September 29th, 2017, 8:18 pm

Didn't see that one! More good news..thanks for pointing out.

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Re: PFC - Doing very nicely thank you.

#86115

Postby vrdiver » October 5th, 2017, 8:07 pm

There's still an 8.08% short selling, vs 8.79% recent high, so a few hearts and minds to win over yet!

Don't get me wrong - I've been buying PFC recently in the belief that their woes are overstated, but shorters do tend to have a "special" knowledge that some might confuse with insider trading...

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Re: PFC - Doing very nicely thank you.

#86173

Postby Clitheroekid » October 5th, 2017, 11:11 pm

FredBloggs wrote:How many of them know anything about the O&G industry? How many of them are working or have worked in the industry? None?

I don't suppose many of them wear hard hats or work in the construction industry, but they knew that Carillion was down the pan.

vrdiver
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Re: PFC - Doing very nicely thank you.

#86177

Postby vrdiver » October 5th, 2017, 11:19 pm

Clitheroekid wrote:
FredBloggs wrote:How many of them know anything about the O&G industry? How many of them are working or have worked in the industry? None?

I don't suppose many of them wear hard hats or work in the construction industry, but they knew that Carillion was down the pan.


Exactly: being an expert in the process side is almost irrelevant - it's the finance details that make or break...

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Re: PFC - Doing very nicely thank you.

#86833

Postby vrdiver » October 9th, 2017, 10:20 am

It's a nice stream of good new stories. My concern is the 7.5% of shares being shorted, which suggests somebody thinks there's more bloodletting to be done yet.

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Re: PFC - Doing very nicely thank you.

#89087

Postby Clitheroekid » October 18th, 2017, 1:42 pm

FredBloggs wrote:And.......... More BAU from PFC! Petrochina contract win.
https://www.petrofac.com/en-gb/media/news/petrofac-awarded-iraq-pmc-from-petrochina/

But despite all the good news the price has gradually drifted downwards from around £4.60 a couple of weeks ago to around £4.20 today.

I've been very tempted to buy back in, but that downward trend - when other oil shares have generally been gaining - is worrying, and I'm thinking there may be further yet to fall.

It's also still quite heavily shorted at around 7.5%, though this has fallen slightly over the past month or so.

So although I'll be watching it carefully I'm holding back for the moment.

Clitheroekid
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Re: PFC - Doing very nicely thank you.

#89415

Postby Clitheroekid » October 19th, 2017, 10:41 pm

FredBloggs wrote:Looking forward to the interim divi very soon which will be automagically reinvested.

Should such an investment not be in Hogwarts plc? ;)

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Re: PFC - Doing very nicely thank you.

#91697

Postby Nimrod103 » October 30th, 2017, 8:48 am

FredBloggs wrote:Not looking so good in KSA for Petrofac on Aramco gas plants bidding. Not a surprise to me, Tecnicas Reunidas are on a roll with Aramco at the moment it seems, hoovering up projects.
While the Spanish engineering firm has made the lowest bids on the Haradh and Hawiyah gas compression stations and the Hawiyah gas plant, Italy’s Saipem and Samsung E&C are also well placed to win the Hawiyah gas plant work, they said.


http://www.arabnews.com/node/1182371/business-economy


Having worked with Italian oil cos, I've a pretty good idea how they win contracts. Maybe the Spanish are similar, or do they just bid lower? Are the bids made public?

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Re: PFC - Doing very nicely thank you.

#91726

Postby Nimrod103 » October 30th, 2017, 10:40 am

FredBloggs wrote:
Nimrod103 wrote:
FredBloggs wrote:Not looking so good in KSA for Petrofac on Aramco gas plants bidding. Not a surprise to me, Tecnicas Reunidas are on a roll with Aramco at the moment it seems, hoovering up projects.


http://www.arabnews.com/node/1182371/business-economy


Having worked with Italian oil cos, I've a pretty good idea how they win contracts. Maybe the Spanish are similar, or do they just bid lower? Are the bids made public?

I don't know is the answer. What I can say is that Aramco are very, very strict with anything commercial. I haven't worked with or for TR but I am dismayed that a company run in Euros can outbid a company run in GBP. I guess the contract is priced in dollars. The weak GBP would give PFC an advantage in overheads. But having said that, most of the engineering will be done in India whoever wins the job.


The modus operandi was to find out the lowest bid in advance of the deadline, and go in just below, if they wanted the work.
Moderator Message:
text deleted. could be on shaky ground. Raptor.

Clitheroekid
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Re: PFC - Doing very nicely thank you.

#95966

Postby Clitheroekid » November 15th, 2017, 3:49 pm

Clitheroekid wrote:But despite all the good news the price has gradually drifted downwards from around £4.60 a couple of weeks ago to around £4.20 today.

I've been very tempted to buy back in, but that downward trend - when other oil shares have generally been gaining - is worrying, and I'm thinking there may be further yet to fall.

I've just checked and they're now available at £3.98. This is even more tempting, but my gut instinct is that they've still a bit further to go - maybe to around the £3.80 mark. This is reinforced by the shorting having risen slightly over the past few days, from 7.5% to 8.5%.

Nevertheless, at this price they look to be good value, and it's rarely possible to buy right at the bottom.

What do others think? It's hard to imagine there's really much risk at this price.

vrdiver
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Re: PFC - Doing very nicely thank you.

#96088

Postby vrdiver » November 16th, 2017, 2:03 am

Clitheroekid wrote:
Clitheroekid wrote:But despite all the good news the price has gradually drifted downwards from around £4.60 a couple of weeks ago to around £4.20 today.

I've been very tempted to buy back in, but that downward trend - when other oil shares have generally been gaining - is worrying, and I'm thinking there may be further yet to fall.

I've just checked and they're now available at £3.98. This is even more tempting, but my gut instinct is that they've still a bit further to go - maybe to around the £3.80 mark. This is reinforced by the shorting having risen slightly over the past few days, from 7.5% to 8.5%.

Nevertheless, at this price they look to be good value, and it's rarely possible to buy right at the bottom.

What do others think? It's hard to imagine there's really much risk at this price.


If shorting is increasing, personally, I'd hold fire. The shorters (or insider dealers as I sometimes call them) may just have a nose for something that we outsiders don't.
I agree it's hard to call the bottom, but catching them at £3.98 on the way up may be safer than catching them at £3.98 on the way down!
Nothing on the outside to scare the punters, so why the increased shorts?

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Re: PFC - Doing very nicely thank you.

#104140

Postby spiderbill » December 14th, 2017, 2:19 pm

Chairman to step down in May apparently
https://uk.finance.yahoo.com/news/petrofac-chairman-heads-exit-sfo-132454855.html

"Petrofac is understood to be preparing for a potential takeover approach from a larger oilfield service company which may be interested in taking advantage of its depressed share price."

Share price down 3.5% at 439p

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Re: PFC - Doing very nicely thank you.

#104167

Postby spiderbill » December 14th, 2017, 3:34 pm

Maybe responding to the chairman going rather than the rumours of a bid. But I'm often puzzled by the market reaction to Petrofac news! Price has since rebounded a little.

Of course the question is what level a bid would come at and what the reaction would be. Despite being 3k down on them I'd be rather unhappy to lose them even if I got my investment back, as I see no reason why they can't return to pre-SFO levels and the dividend is decent.

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Re: PFC - Doing very nicely thank you.

#105125

Postby Clitheroekid » December 19th, 2017, 12:42 pm


Clitheroekid
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Re: PFC - Doing very nicely thank you.

#105406

Postby Clitheroekid » December 20th, 2017, 5:50 pm

I decided to take a profit today. Having (re)bought in just over a month ago at £4.26 the £4.80 on offer this afternoon was really too good to miss.

Of course this will almost certainly trigger an overnight bid at £6 per share!

It was a hard decision to take, as I agree with Fred that there is a good chance of a takeover, and even if that doesn't happen the well-covered yield and the relative lack of downside below around £4 is a big attraction. But I have so many times chickened out of taking a good profit in the hope of a larger one, only to watch the price drift back down and the profit evaporate.

I suppose I don't really have the true trader mentality, but in this case the bird in the hand was just too plump to be allowed to escape!

I'll be watching it carefully though, and should the SP drift back I'll be only too happy to `rinse and repeat'.

The problem now is where to put the sale proceeds. I'm increasingly liking the look of HUR, but I'm already quite heavily invested there, and this is trading money. If I use it to buy more HUR I know for a fact I won't be able to bring myself to sell.

But good old PFC has definitely improved the quality of wine with our Christmas Dinner! :D

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Re: PFC - Doing very nicely thank you.

#106786

Postby panamagold » December 30th, 2017, 11:18 am

Bought into these earlier this year @ £3.95. Ended the year 28.95% up so I'll drink to that and if they continue the same or similar next year I'll be "Doing very nicely thank you" also.

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Re: PFC - Doing very nicely thank you.

#109142

Postby youfoolishboy » January 10th, 2018, 7:35 am

Fred
a wee negative to put against all the positive stuff. Petrofac Woking, a large office, have been firing staff for a while this is worrying as you only fire staff when you are sure there is nothing coming in as you have already fired the large majority of the workers who are contractors.

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Re: PFC - Doing very nicely thank you.

#109155

Postby panamagold » January 10th, 2018, 8:35 am

youfoolishboy wrote:Fred
a wee negative to put against all the positive stuff. Petrofac Woking, a large office, have been firing staff for a while this is worrying as you only fire staff when you are sure there is nothing coming in as you have already fired the large majority of the workers who are contractors.

Global employment reviews (including Woking) appear, overall, upbeat and positive. Where are the dismissal stats surfacing from?

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Re: PFC - Doing very nicely thank you.

#109242

Postby youfoolishboy » January 10th, 2018, 3:19 pm

Panamagold
I get my info from people working there, its my day job I need to keep up with where the work is so I can get employed.

Fred
there is a wee upturn happening in the SE just now or at least there will be as there are a few big ones coming in mostly at FEED. There is a monster 5 year FEED for Saudi coming with FW Reading as PMC and 4!!!! contractors, KBR, Worley, Jacobs and one other I forget who, not Petrofac. Bechtel have just got a large 2 year FEED for ADNOC with KBR as PMC. KBR have the next rig for BP in Azerbijan after they finish the FEED for it and a few other bits and pieces. A few other projects are floating about I have a hit list running just now as I am getting near the end of contract where I am. Hopefully they wont be farming out stuff to low cost centres.

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Re: PFC - Doing very nicely thank you.

#109293

Postby panamagold » January 10th, 2018, 7:18 pm

youfoolishboy wrote:Panamagold
I get my info from people working there, its my day job I need to keep up with where the work is so I can get employed.

Good luck with continuous employment prospects.


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