Wood Group (john) Share Discussion Threads

[chutes01] 23/6/2022 21:31

Indeed, all very worrying for WG, they appear in distress, Stewart left abruptly however he wasn't a businessman and was mocked by the market, made himself a small fortune here, now Watson goes and he leaves behind a myriad of incompetence and mediocrity brought about by a degree of nepotism.

Let's just hope someone is after them and brokers are driving the price down to acquire on the cheap. I can see this below £1
Have they trashed the company for good, is this recoverable ??
Every major downturn sees a major casualty, is it Wood.

[pogue] 23/6/2022 17:44

The O&G contractor market is very busy just now I am seeing jobs advertised daily for my discipline. Cant understand why the big contractors SPs are going down. Lots of LNG terminals and gas pipelines will be needed for a start. A lot of the jobs I am seeing so far are for long Saudi FEED contracts and even remote working for Norway and Southern Ireland, pharma, as they are very short of engineers.

[mcntrader] 23/6/2022 17:01

Such a beautifully sloped downward curve ... if only I were short. Where is the bottom here? We're now a £1.1bn market cap, down from £1.7bn a couple of weeks ago. £600mn wiped without any explanation. Once the $1.8bn lands from WSP, what then? Where do we go?

[chutes01] 23/6/2022 16:06

worrying AGM, Co appears in distress, Watson & Co. jumping ship.
Wonder if we see another shocker for the accounts
Attitudes leading to contract losses

[plentymorefish] 23/6/2022 16:05

Seems the sector is out of favour.....PFC similarly down and heading lower......

[ashkv] 23/6/2022 15:56

Wow 167 - less than 10% from 52 week low as a result of delayed results.... WG updated that business recovering, New CEO, Successful sale of Environmental business and net cash when it closes and the share goes down down down...

[plentymorefish] 16/6/2022 17:17

I thought that at 205!.....;)

[the white house] 16/6/2022 17:13

Back in @ 178 One way bet

[pogue] 16/6/2022 14:29

PFC is also falling this fall is not specific to WG so can be assumed to be just general market driven. Nice to hear they are paying off debt with the money from the sale as interest rates and inflation will keep rising making debt is a big negative. should rerate at some point upwards as contracts roll in. I hope lol, this market will put doubt into anybody's mind.

[ashkv] 16/6/2022 12:01

Per Bloomberg Terminal 12 Analysts Cover Wood Group - JP Morgan and Morgan Stanley have suspended ratings as likely involved with recent division sale

Remaining 10 Analysts - 6 Buys 4 Hold
Average Target Price 285p
Highest 400p from Citigroup
Lowest 150p from Jefferies (likely prior to sale of division)

[ashkv] 16/6/2022 11:29

At 180.5p Share Price Wood GroupMarket Capitalisation £1,246 million

Share price down 7% on GBP 1.2 million worth of share volume - barely 0.1%

This is a great buying opportunity.

Should turn around strongly post next weeks update....not long to go...

[ashkv] 16/6/2022 11:26

From Tip Ranks
One extreme sell outlier skewing overall target price down to 275p

4 Buys 1 Hold 1 Sell
275.40p
▲(52.49% Upside)
Based on 6 Wall Street analysts offering 12 month price targets for John Wood in the last 3 months. The average price target is 275.40p with a high forecast of 340.00p and a low forecast of 151.00p. The average price target represents a 52.49% change from the last price of 180.60p.

[ashkv] 16/6/2022 11:09

Actually 151p 52 week low - and around 15% further to go until that is hit - I am waiting for a bottom post averaging down... as already have an average around 190p.

[ashkv] 16/6/2022 11:08

150p is the 1 year low, 5 year low (pandemic peak early 2020) and 15 year low... incredible buying opportunity forthcoming...

Most analysts have recently updated Wood Group target price to the 300p range... sell off on extremely low volumes...

[ashkv] 16/6/2022 08:30

FYI:

hxxps://www.woodplc.com/news/latest-press-releases/2022/wood-signs-global-engineering-and-project-support-master-services-agreement-with-chevron

Published: 14 June 2022
Wood, the global consulting and engineering company, has entered into a 10-year global master services agreement for engineering and project related services with Chevron.

The agreement can be used by all of Chevron’s business units and covers both offshore and onshore assets within the upstream, midstream and downstream markets.

The deal enables the formation of a global strategic relationship, strengthening the overall quality of engineering and providing predictable outcomes for project delivery worldwide. To further enhance predictable performance, Wood will work with Chevron’s digital enablement specialists to collaborate, optimize, and pursue efficiencies.

Jennifer Richmond, Executive President of Strategy & Development at Wood, said: “With Chevron, we share the same strategic sentiment, growth mindset and alignment on key sustainability and performance goals. Our strong market proposition enables us to provide solutions right across the energy spectrum on a global scale, and our commitment to digitalization and adoption of best-in-industry practices ensures we are continuously seeking performance and project efficiencies.”

Jim Shaughnessy, President of Conventional Energy at Wood, added: “Transparency, ingenuity, collaboration, and predictable performance have all been key to building our more than 20-year relationship with Chevron.”

[ashkv] 16/6/2022 08:29

Of course they will recover from here - along with the sector. Have already conveyed order book has increased and outlook is positive.

On deal completion WG be net cash positive and have a rock solid balance sheet...

Falling on very very low volume relative to market cap 0.2-0.4% of outstanding shares... great buying opportunity for smaller investors.

I am adding to my holding and averaging down having a 200p average at present...

[tahmina1] 16/6/2022 08:28

The increased cost of debt impinging on the SP?

[chutes01] 15/6/2022 15:24

There appears abject incompetence across the board, huge shareholder value destruction has occurred.
Stewart and Watson walked away too late, I suspect SIW had a quiet word.

Reputational damage within industries, and the city boys don't like nasty write-offs, SFO investigations or delayed figures.
Incompetence, which at times manifested itself as arrogance has been the downfall of Wood in several sectors, will they recover from here ?

[ashkv] 15/6/2022 13:49

Just market jitters - and very very low volume... folks staying on the sidelines which is odd... given the compelling entry prices for WG....

[ashkv] 15/6/2022 13:49

20% drop from current 188p to hit 52 week low of 150p - and 41.5% to hit 52 week high of 266p - prior to successful asset sale, resurgence on Energy markets, positive guidance as to order growth - $6-$7bn of revenues now valued only at around $1 billion once cash of $1.8Bn comes in shortly. Net Debt was at $1.4 billion per Full year results for 2021....

Low low volumes - drop overdone.... I last added on Spread Bet and directly at such levels and didn't sell at 252p as I expected upliftment post asset sale... however, that didn't work out well....

Will be adding on any dips from here... it is a no brainer...

[ifthecapfits] 15/6/2022 09:51

Is there a reason for the poor share price of late other than market jitters? Tempted to open a position.

[fsawatcher] 15/6/2022 07:15

dis go any lowers and it be bought out

the buyer payin $2bln shud jus pay $4bln and take the lot