Wood Group (john) Share Discussion Threads

[squash90] 22/1/2010 13:23

why are we getting draged in to this mess????

[chillwill] 11/1/2010 11:37

Hmm, gone well into overbought territory now, thinking a pull back and coming off overbought levels before making a new 52yr high would be good and leave some room for a run up to around 400p (that 410p seems realistic for the next peak).

[losses] 11/1/2010 08:39

Barclays have increased fair price target to 410 with a BUY recommendation.

[slim9] 10/1/2010 15:07

Any one post the broker upgrade........

[whizzy1] 08/1/2010 16:01

I put it down to massive gas usage which will only benefit WG contracts
either way nice rise.
great looking chart btw

[robow] 08/1/2010 10:33

there was a broker upgrade earlier in the week-maybe delayed price action due to that

[jack parlabane] 08/1/2010 10:11

Nice move this morning.

Any reason??

[chillwill] 06/1/2010 16:55

Going nicely off its bottom. Results out in march so not much other than general market movements before then and maybe a little pre-result buying end of feb (results early march).

[chillwill] 18/12/2009 12:32

Think yesterdays fall on a neutral statement shows the markets may be overbought in general. Would be good to see a break back above 300p though, future prospects look good even if revenues are depressed in the short-term.

[noworknoplay] 18/12/2009 08:15

cheers for the info robow

[robow] 18/12/2009 08:06

tipped in the Times and Independent this morning

[chillwill] 17/12/2009 10:29

Looks good going forward - making a few acquisitions while things were tough shows confidence.

[jdb2005] 17/12/2009 07:52

Re-assured that Wood Group can ride the recession and come back strongly in 2H 2010:

17 December, 2009
John Wood Group PLC ("Wood Group")

Pre close trading update for the year ending 31 December 2009

Wood Group, the international energy services company, issues the following pre close update for the year ending 31 December 2009. The announcement of the
results for the full year will be made on 2 March 2010.

We have continued to benefit from a robust performance from our production
support related businesses, and for the Group as a whole we believe that EBITA1 for the year will be in line with market expectations.

In our development related engineering activities, subsea and pipelines have
performed well and remain active on a number of major subsea projects. However, as anticipated, project delays in upstream and downstream have reduced volumes and margins and this trend looks set to continue into 2010, although, with our good prospect list, we believe activity should begin to recover in the second half of the year. Production Facilities has seen a strong performance in 2009, including good activity in the North Sea supporting a broad range of customers.
Internationally we are developing our presence in Australia, West Africa and
Brazil, and following our acquisition of Baker Energy are now the leading
provider of operations support in the Gulf of Mexico, including deepwater
facilities.

In Well Support, our Electric Submersible Pumps business is making good
progress in developing its international activities in the Middle East, Africa
and Latin America. The US rig count is now recovering and this should provide
positive momentum for our Pressure Control activities into 2010. We have also
made good progress in developing Pressure Control's business internationally,
with recent success in Mexico and the Middle East. Overall, the performance of
the division has benefited from the early implementation of significant cost
reduction measures.

In Gas Turbine Services, we continue to see reasonable demand for our
aftermarket services in both oil & gas and power & industrial applications and
we have been successful in winning a range of longer term contracts. We
continue to see delays in the award of fast track power projects, but expect
awards to begin in 2010, which should provide good growth in 2011. We have
recently strengthened our offering by acquiring Shanahan, a leading provider of power plant installation, commissioning and maintenance services in the Eastern hemisphere.

Our financial position remains strong and we will deliver good operating cash
flow for the year. Overall, we believe our EBITA will be in line with market
expectations. We remain confident in the medium and longer term fundamentals of
our key markets and are continuing to develop our business to ensure that we
are well positioned to deliver good growth as energy market activity recovers.

[chillwill] 09/12/2009 11:36

Due a pre-close trading statement around thurs 17th (next week). Will be interesting to see what the share price does before then and what the actual statement reads as.

[chillwill] 09/12/2009 11:10

Looking a bit oversold to me, might be a good time to pick some up with a tight stop loss; shouldn't fall much further unless there is something fundamentally wrong.

All statements read 'in line with expectations' and EPS forecast around 25p-27p this year; dividend cover of around 5x and a decent balance sheet.

[go fourth and multiply] 01/12/2009 13:29

Can the share price push back onto 350! Time will tell GLA

[slim9] 09/10/2009 08:43

Oilfield services company Wood Group believes its 2009 performance will be in line with expectations and said it remains confident in the medium and longer term fundamentals for the business. However, the group warned that activity and margins at its development related engineering activities will continue to be impacted amid delays both in the pace at which projects are being progressed and in further awards.

From digital look.

[chillwill] 01/10/2009 09:29

using some of their cash reserves it would seem!

[chillwill] 16/9/2009 17:14

I have no doubt in the strength of the company ch1ck... just the comparison to PFC, they're different; i'd rather have my money in WG... like you say looks overlooked with every man and his dog snapping up PFC it will soon run out of people will to buy and it may snap back like you say.

As for WG... struggling to break resistance while markets race along, once broken & back tested 373p should be achieved relatively quickly, unless markets correct then it'll have to wait a bit.

[ch1ck] 15/9/2009 21:30

Chil what attracted me was the diversity of the support services offered which include the turbine servicing division. This I believe ofers some diversity for revenue production. It may not provide the potential gains of Petrofac but it is ideal for my slow burn dividend portfolio. I had trouble buying Petrofac at the current level as I see more chance of a quick 20% cut back

[chillwill] 15/9/2009 15:49

not sure ch1ck... petrofac are predicting pretty high growth whereas wg. remain a bit flat & with a reduction capex, the scope for growth isn't there.

however, it'd still say buying below 300p should provide gains and provide a decent price for longer-term holders.