Wood Group (john) Share Discussion Threads

[dipa11] 23/5/2022 21:17

JP Morgan upbeat on outlook for oil field services and exploration outfits In the case of Petrofac, they raised their target price from 170.0p to 180.0p, arguing that the share price could still double as the firm's backlog rebuilding gathered pace.They also placed shares of Wood on a positive Catalyst Watch and raised their target from 285.0p to 306.0p.

[pogue] 21/5/2022 19:28

I can tell you there are offering outside IR35 contracts its the only way they get anyone. There is a shortage of engineers post covid as many retired or gave up due to the IR35 regulations. All big contractors are only taking on contract engineers outside IR35 as before. I have had enquiries from most of them that's how I know. Clients are persisting on trying to get engineers inside IR35 as they are more risk averse and are having more problems.

[willie99] 21/5/2022 19:15

The reason they are recruiting staff is because the IR35 regulations mean it is extremely difficult to engage contractors, and not risk a fine from HMRC. Recruiting anyone is positive, but don’t read too much into the staff requirement. It is driven by IR35 requirements.

[pogue] 15/5/2022 10:54

An interesting point from the coal face.
Below is a link to a recruitment fair for Wood Reading, formerly Foster Wheelers UK office, they are looking for permanent employees across the board, I know form friends that they have been recruiting contractors as well as they are snowed under with projects, 3 Saudi FEEDS and an EPC for Ineos. I believe there maybe more. Recruiting permanent staff indicates they have a belief there is a lot of long term work as they normally work on about 70% contract workers, the percentage is higher if you just count engineers in your head count. Even more interesting is the fair is right beside Fluor's offices so they are trying to steal their staff a sign that the market is very tight which means there is a lot of work out there. Something I have noticed in the amount of job ads in general in the last few weeks.

hxxps://woodplc-row-external.icims.com/jobs/104537/reading-recruitment-open-day/job?mode=view&mobile=false&width=1240&height=500&bga=true&needsRedirect=false&jan1offset=0&jun1offset=60

[old fool2] 02/5/2022 15:19

A reassuring letter from Business Secretary re North Sea Oil & Gas

[chutes01] 28/4/2022 23:49

Watson just a yes man for I Wood
Need better quality in there
Seriously short of competent management to take business forward

[puffet] 28/4/2022 14:33

The sacking of Robin Watson seems to have perked up the share price :)

[chutes01] 20/4/2022 13:47

shorts closing

[chutes01] 20/4/2022 13:12

Have to agree,
Made himself a fortune,Salary/Pension/Bonus/Share options, whilst presiding over a corrupt regime.
Dave Stewart appears to have kept quiet and took the money along the way, his days are short numbered.

Others will follow quickly, Ian Wood must have intervened to stop the show going under.

[puffet] 20/4/2022 07:34

First positive step in a long time.
New CEO can only be a good thing , Watson was a shambolic appointment, first of many to be "retiring" in the coming weeks and months I hope.
Made millions personally and ruined Wood as a business.

[puffet] 20/4/2022 07:34

First positive step in a long time.
New CEO can only be a good thing , Watson was a shambolic appointment, first of many to be "retiring" in the coming weeks and months I hope.
Made millions personally and ruined Wood as a business.

[pogue] 05/4/2022 08:32

Buyouts in this sector normally happen in the good times, currently its still quiet despite the high oil price. I struggle to see a buyer mind you none of the big contractors seem to be acquisitive right now. The intellectual assets that would be most valued just now would be ammonia and hydrogen tech, which is a definite growth market, which I dont think they have. Happy to be proven wrong.

[puffet] 05/4/2022 08:21

The sad thing here is Wood could be bought out just like they did to Amec (except at a much cheaper price)

[chutes01] 03/4/2022 12:29

For sure, the market will become impatient quickly and move to replace Directors.
Wood should now be taking advantage of the energy supercycle, positioned for renewables, instead it remains hamstrung with debt and rolls out a horror story every 6 months.

[puffet] 28/3/2022 12:09

How Robin Watson and the rest of the incompetents manage to survive is way beyond me. A shambles of an outfit which has destroyed shareholder value since the AMEC/FW buyout debacle.

[lochgarman] 09/3/2022 23:49

A new game has begun. Things are looking up! Energy security now no.1 priority.

[ny boy] 08/3/2022 13:10

Property will not perform well under a rising interest rate cycle, not a buy in my books, wait for 100p or lower

[ashkv] 07/3/2022 08:53

15.5 Year Lows ---- Buy Buy Buy!!!

[tahmina1] 03/3/2022 14:43

Does anyone know their exposure to Russia , e.g. how much do Russian companies owe them?

[tahmina1] 03/3/2022 14:43

Does anyone know their exposure to Russia , e.g. how much do Russian companies owe them?

[chutes01] 01/3/2022 15:16

That is a good point

[mauricemck] 23/2/2022 10:27

Are there any other dirty secrets the board is hiding?