Wood Group (john) Share Discussion Threads

[wendsworth] 14/1/2009 16:09

Phil : DOW down almost 300 points in 90 minutes trading today !!!!!!!!!!!!

[wendsworth] 14/1/2009 15:50

jibba jabba : Down to 205 already.

With the FTSE and DOW so overvalued in the short term see WG as a BUY at 160p. Have placed a limit buy at that level for the next month

PHIL0124 ; Another stock with potential BUT not at current level. General market falls will drag these down again. As to buy back in in price I favour 400p but might have to move up to the 400 to 450 range.

We'll see. However...just glad I'm in cash and not shares at present. I like to sleep soundly! Problem is if the DOW tanks say 400 to 500 points in a day ( and it could well do over the next few weeks) You cannot react to such movements when you're trading stocks.

[philo124] 14/1/2009 09:48

Amec update today

[jibba_jabba] 13/1/2009 19:29

Sold half my holdings last thursday for a profit aswell, not bad considering i was 4k down. I will top up below £2. The others i hold are worth 2.30p, which i will leave for any break out.

[wendsworth] 13/1/2009 12:41

jibba jabba : Sub 200p again within the next few weeks is my call.

[jibba_jabba] 07/1/2009 18:02

Good luck..

[ashraf1] 07/1/2009 16:21

good time to short.

[jibba_jabba] 06/1/2009 14:53

20% is bloody good. Rumour, opec may meet next month to announce more cuts.

[jibba_jabba] 06/1/2009 14:33

Wanted to set stop losses...

[rusty steele] 06/1/2009 13:34

JJ, why don't you call your broker - I have to do this all the time - you lose a penny or so on the spread, but at least you can deal in the numbers required.

[jibba_jabba] 06/1/2009 13:32

Somethings up.

[jibba_jabba] 05/1/2009 21:52

Oil now over $48....

[jibba_jabba] 05/1/2009 15:23

can only trade 100.. must be a shortage..or too many..

[philo124] 05/1/2009 12:05

At last a post. Was tempted to top up but stuffed out with oil stocks and call options.
Just sold Tullow, ENI to go next. Will hand on to WG, PATIENCE SHOULD BE REWARDED FROM HERE.

[spob] 05/1/2009 09:58

Barclays Share of the Week

22 Dec 08

Wood Group symbol: WG.

After a period of stunning performance in the first half of the year, oil prices have beaten a hasty retreat with the price of crude languishing at $44 a barrel. Of course, in years to come, consumers may well look back on the current price level with fond memories. But while OPEC has agreed a significant production cut to try and stabilise prices, a return to the heady days of the summer – when oil touched $147 a barrel – now seems a long way off.

This presents a conundrum for investors; oil is a finite resource and, by definition, demand should begin to outstrip supply once the global economy returns to a trend level of growth. In that sense, oil should rise as long-term fundamentals are supportive of prices; indeed, our longer-term fair value stands at $64 a barrel. But it's also undeniable that a price of $40-45 presents some headaches for the industry; complex projects such as oil sands are usually unprofitable at this level, while a continued downward trend in prices may prompt oil companies to postpone new projects or drop them altogether. Meanwhile, a global recession means weaker demand – both from motorists and industrial users.

For investors who want to maintain exposure to the oil sector or who want to diversify away from the traditional oil majors given the current economic environment, we would suggest Wood Group. The company should be partially insulated from the falling oil price by the fact that Production Facilities – Wood Group's largest division – benefits from having 75% of its activities based on long-term contracts (thus offering good earnings visibility). The Well Support business, on the other hand, is likely to see a slowdown in 2009, lagging the current decline in US oil rig count.

Broadly speaking however, Wood Group is one of the higher-quality oil services businesses and perhaps most crucially it is well funded – a significant plus given current financial conditions. It therefore remains a good way to add diversity outside the well-known oil majors. The stock trades on seven times next year's earnings and is a constituent of our UK portfolio.

[slim9] 03/1/2009 17:53

Could be the year of a merger. Begins with A

[aeros] 02/1/2009 13:42

harryg

I could earlier (before 9am) but have just tried again to add to check it out and I too have the 100 limit ......... so it's all of us. Pity I was intending to add if it went sub 190.

[jibba_jabba] 02/1/2009 12:19

Something holding this back today.

[harryg] 02/1/2009 12:07

Aeros
I am still receiving a max online trade of 100 from Selftrade- strange that you are able to deal in larger quantities!!!

[aeros] 02/1/2009 11:07

Selftrade? .......... No. I use and am finding OK.

[jibba_jabba] 02/1/2009 10:41

Been 100 since monday.

[chutes01] 02/1/2009 10:32

Expect a decent move above the 200p level, the mm's are messing at the moment.
Look at the recent Director purchases, contracts being won to the detriment of Petrofac etc.
WG are going to grow significantly.
Charts say up from here.