Wood Group (john) Share Discussion Threads

[one_frankel] 26/8/2022 12:10

Stock fundamentals are invariably displaced to the price action AshKv but the market is rarely wrong!...And make no mistake but WGs share price is being completely controlled and manipulated by those institutional shorts and who are providing all the liquidity currently and thats what really concerns me here.

[chutes01] 26/8/2022 11:50

Market wants this below £1
May be wiped out

[puffet] 26/8/2022 11:12

The lack of due diligence of the AFW buyout keeps coming back to bite them, yet another litigation this time in Texas adds to the worries. How many more are to come?

[ashkv] 26/8/2022 10:27

Price To Book of Wood Group 0.27 - INSANE... AND IT IS SOON DEBT FREE / ORDERS BOOMING - MAXIM LITIGATION EXPOSURE OF $700mn - likely a win or much lower amount...

Even with $700mn ridiculous share price.. 15 year plus low...

[one_frankel] 26/8/2022 09:02

...Some must really enjoy trolling others but take little notice of this 'Common' English sc_um whose unfortunately from Hull and still seething from his investment into THG, oops!

[one_frankel] 25/8/2022 19:19

Its all been contrived Husbod and the goons of WEF know exactly what they're trying to achieve, unbeknownst to us yet!

...And the potential is clearly there to be seen with WG but what I've learnt over the years is to be wary of an excessive number of AT trades as they'll lure in you in with providing the liquidity on false expectations and then spit you out with that same price action but in the opposing direction and the number of institutional shorts under 0.5% is still significant here but its never wise to try and play against them either!

[husbod] 25/8/2022 18:10

I don't have the knowledge of the industry that some here have but I can't help thinking that insufficient weight is being given to the very real problems over recent years on the macro level. In particular the monumentally naive and stupid idea that we can transition from carbon to green energy overnight and that there should be no further investment in oil and gas. Egged on by the media and the ESG brigade the work available for companies like ours and Petrofac dried up and is only now coming back thanks mainly to a murderous thug in the Kremlin who has proved the blindingly obvious that we need our own energy sources.Wood looks like a real recovery stock imo and I'm investing accordingly.

[one_frankel] 25/8/2022 15:32

Wow, the number of AT trades here is incredible which is invariably institutional shorting activity but I think i may need to seriously reconsider my investment here!

[puffet] 25/8/2022 13:03

I was ABZ based but moved on to a competitor abroad. Still have many contacts in Abz office, morale there is rock bottom am afraid.

[pogue] 25/8/2022 12:44

Not doing due diligence on buyouts is common from what I have seen in the sector and having clueless leaders again more the norm than not, only the smaller EPCs can really manage things tightly even there there are a few clowns like the ones I am having to approve the work of just now.
Regards Wood not getting work I beg to disagree the old AMEC/FWEL office is busy with 18 month long FEEDs for Aramco, I hate the department head there so wont be going not after the last parting anyway lol. Are you ABZ based? That may explain the perceived lack of activity you are viewing.

[puffet] 25/8/2022 12:07

Pogue, I am ex Wood so know the company very well. The clear out of the incompetent Watson, Stewart etc is very good news however what's coming behind them is much of the same am sorry to say.
The Amec buyout (without due diligence) has been catastrophic to the share price
The industry is showing signs of recovery but little of that is coming to Wood it is going to competitors , Petrofac , Worley et al.
Am hoping Gilmartin will clear out the raft of dross at senior management but will wait to see what he does before I go back in.
Theres a great company there but its been led by clowns for years.

[one_frankel] 25/8/2022 11:21

This is nothing more than a manipulated fall by MMs to fill a large buy order and one just needs to consider the strong order book for the second half and beyond!... And its certainly 'Value' investing around current valuations folks.

[pogue] 25/8/2022 11:06

Puffet
from what I see we are at the beginning of a large bull run in contractors I ahve seen a few in my time. I live and work near all the big ones in the SE England, and everyone, bar Fluor who have screwed a few projects lately, are looking for engineers Woods especially. Most of the work is FEEDs so large contracts are coming. Short term however the market does what it does.

[chutes01] 25/8/2022 10:56

looks in distress

[puffet] 25/8/2022 10:48

I bought in at 148p a few weeks ago thinking the worst was in but have sold out now at a loss. Will watch and wait but little in the results to wet my appetite.

[chutes01] 25/8/2022 10:47

needs to hold support here, or it goes below 100p
dogdhit share, going bust by the looks of it.
shareholders wiped

[chutes01] 25/8/2022 09:26

Has Watson and his chums busted a £5 billion Co here ?
Shareholders wiped out, and start again for Wood
What a mess, all whilst several have made themselves multi millionaires.

[eezymunny] 24/8/2022 17:31

They say "Following the expected disposal of the Built Environment Consulting business in 2022, net debt: adjusted EBITDA is expected to be below 2.5 times".

They've gone, since the disposal announcement, from

"Net cash proceeds would result in a pro forma net cash position at 31 December 2021",

to

"Built Environment sale agreed for EV of $1.81bn (net proceeds of approx. $1.62bn) - good progress towards completion in H2, modest net debt position taking into account expected proceeds"

to

"Following the expected disposal of the Built Environment Consulting business in 2022, net debt: adjusted EBITDA is expected to be below 2.5 times".

It's all very messy IMO. Could go either way...

[iconista] 24/8/2022 13:21

Our tiny little batman, on his selfless quest to protect our money, is not entirely wrong about Wood Group. But his narrative about greed, corruption and incompetence could be used to describe pretty much any contemporary corporation. The terms he uses beautifully define how late stage capitalism works. One only has to look around at the state privatised companies are in.In its favour, Wood Group's potential customer base is experiencing a massive boom and consequently rolling in money. Will some of it filter through to WG? With shortages all round and demand outstripping supply, I think it will. The potential upside here is large enough to keep me invested.

[chutes01] 23/8/2022 14:20

40 mio each year to SFO

[ashkv] 23/8/2022 13:48

chute01 - are you quoting some Qanon info you came upon first hand...

Wood Group is a near zero debt firm by the end of Sep 2022 - Guidance of Q3 closing of Built Energy Sale... orders are up even with management in flux... new leader at the top... I like that the new CEO is taking his time and will update as to strategy when it is credible...

Risk as to Texas Lawsuit but post reading about the same in last year's annual report I am assuaged that even if WG lose the amount should be easily managed...

[chutes01] 23/8/2022 13:32

Confirmation that Watson nearly bankrupted a £5 Billion entity
He and his pals walk away multi millionaires
Now to focus on cash generation for shareholders, and to energise its people whilst focusing on culture.
A business rife with nepotism, bullying and incompetence, came so close to the doors closing, they may well yet do.
Too many middle managers in Abz/Offshore creaming large bonuses and spreading secure corporate information around to competitors.