Wellstream Share Discussion Threads

[eisler] 21/9/2010 08:16

WOW - well done all holders!!!

[p@] 21/9/2010 07:57

Lucky man.

[mr.oz] 21/9/2010 07:19

tw@t , sold out Friday :(

[silverfern] 21/9/2010 07:18

well well well

[peterbill] 16/9/2010 14:47

No news, and quiet on this board.

Been over 500p for a while now, hope it breaks 600p as confidence grows in the oil industry.

[mr.oz] 27/8/2010 18:20

UBS are realy clever people, they have a good graps of the next ...7 days at least

27th August 2010

Wellstream upgraded to neutral from sell at UBS, price target stays 500p


20th August 2010

Wellstream downgraded to sell from neutral at UBS, target price raised to 500p from 485p.

[nellie1973] 27/8/2010 18:09

broker upgrade

[mr.oz] 19/8/2010 17:26

credit suisse - outperform - 762p target
+ 1 x hold,+ 1 x sell ... I think

[phillis] 19/8/2010 08:52

Good summary
Newcastle needs business

[mr.oz] 19/8/2010 07:26

All expected actually, and maybe could be slightly ahead:

Panmure Gordon predicts net income of £6.5m which, if correct, would represent a 61% decline from a year ago. "The company has suffered from low utilisation at its plant at Newcastle due to the lack of orders which we believe has led to this plant being loss making," the broker said.

The market is expecting weak numbers, however, and Panmure Gordon thinks the focus will therefore be on the order book, where shareholders will be hoping for signs of a pick-up in activity.

The order book had recovered to £250m at the time of the company's trading update on 1 July from £168m at the end of 2009. "We would want to see the company build upon this, which should allow the Newcastle plant to increase utilisation rates and move back to profitability and allow the trend of lowering earnings estimates to be reversed," the broker said.

[mr.oz] 19/8/2010 07:23

Hafl Year results are a mixed bag IMO

Very slow H1, low EPS, but VERY encouraging forward looking momentum for sure.

More Contract news too today

Financial Highlights:



· Revenue Backlog of £246m (H1 2009: £215m)

· Revenue of £128.6m (H1 2009: £194.9m)

· Gross margin of 24.6% (H1 2009: 23.8%)

· Profit before tax of £10.6m (H1 2009: £25.7m)

· EPS of 7.1 pence per share (H1 2009: 16.7 pence)

· DPS maintained at 4 pence per share (H1 2009: 4 pence)

· Net debt of £70m (H1 2009: £74m)



Awards and Operational Highlights:



· Backlog improvement of 46% compared to the 2009 year end driven by awards in Brazil and by increasing success in winning smaller projects elsewhere.

· Petrobras Frame Agreement awards in excess of £80m in addition to a contract for the supply of risers to its Marlim Sul field, 150km off Brazil.

· The award of a substantial supply contract by OGX Petroleo e Gas (OGX) in Brazil.

· Substantial completion of the pre-salt technical qualification programme enabling the supply of risers and flowlines for sour service applications in up to 2,500m water depths.

· Launch of integrity management service offering world class inspection and monitoring technologies.



As separately announced today, post period end, the Group has been awarded a substantial installation contract by OGX Petroleo e Gas (OGX) in Brazil.

[mr.oz] 13/8/2010 15:12

M&A Shows Strong Momentum in Manufacturing Sector
Volume doubles in Q2

[phillis] 02/8/2010 10:23

a little bit of weekend press takeover talk

[bori5] 17/7/2010 10:48

O/T check out IRG. DYOR & GL

[mr.oz] 05/7/2010 17:48

another , from sell to buy

Wellstream upgraded to buy from sell at Citigroup, TP raised to 580p from 410p
StockMarketWire.com
Citigroup analyst Kenan Najafov says the risk-reward balance on Wellstream has turned favourable after a derating of the oil services stock in anticipation of a weak second half.

A likely recovery from 2011 will be driven primarily by orders offshore Brazil.

Due to the weak outlook outside Brazil, Wellstream has underperformed its sector by 30% and 12% in the last 12 and three months respectively. The stock price assumes no growth in sales or margin post 2012, says Najafov.

'Wellstream is a growth stock in a highly technical industry, set to benefit from a rise in orders in Brazil (Petrobras, OGX and IOCs) coupled with its operational leverage.

'The weak current order intake outside Brazil and lacklustre 2010 performance are already expected and priced in.

'Whether or not a takeover is realistic, the mere possibility of an acquisition could further support the share price.'

Citi's target price of 580p implies a 2012E PE of 11, 'well within its historic range of 5-17'.

Story provided by StockMarketWire.com

[nellie1973] 03/7/2010 19:48

Broker upgrade

[salpara111] 01/7/2010 09:26

It would appear that my caution has been vindicated...in this particular instance.
Not saying that I hav'nt taken a bath on other punts!

[cwavecrest] 01/7/2010 08:49

Is support level going to be around £4.20p or will it test £4.
I am waiting till I dip more into these.
Once reality has set in then they will bounce back.

[eisler] 01/7/2010 08:34

ouch - but great opp!

[mr.oz] 01/7/2010 07:44

Mixed Bag, trading it's recent lows .... can I wish for this being in the price?


Award from OGX Petroleo e Gas (OGX) of a major contract
Order backlog has increased to £250m.
Smaller awards and a continued lack of visibility.
Some uncertainty has been introduced by recent events in the Gulf of Mexico.


Consequently, the recovery predicted for H2 2010 looks to be slower than expected and may result in some profit being delayed into 2011. Looking forward, the potential for significant growth in Brazil is clear and the fundamentals underpinning growth elsewhere across our markets remain unchanged.

[hopeful holder] 30/6/2010 14:23

I've also picked up a few with the same 500p support level being the trigger

Possible for a quick 10% win and you never know, another bid rumour and I may make a little more!
Good luck to all

HH

[rusty9717] 29/6/2010 16:21

Taken a gamble and have had a punt on these hoping they bounce of the regular bottom of near 500, especially as it was a dreadful day all round. Heres to a better day tom............

[salpara111] 29/6/2010 11:06

Would have to say that I am tempted but suspect that the next trading statement/results will talk about the drilling ban in gulf of mexico etc as a result the risk/reward profile is not right for me yet.

[mr.oz] 25/6/2010 19:59

Deep waters obscure case for oil investment