Lamprell warns on 2017 revenues, announces rig delay
26th Jul 2016 11:24
(ShareCast News) - Lamprell warned on Tuesday that revenues in 2017 would take a hit from the challenging market environment as it said that delivery of the jackup drilling rig which had been scheduled for the second quarter has been delayed. The oil services group said that during the final testing
Read moreLamprell subsidiary inks Saudi joint-development agreement
1st Jun 2016 12:00
(ShareCast News) - Lamprell subsidiary Maritime Offshore has entered a joint-development agreement in connection with a potential partnership collaboration to establish a Maritime Yard in Saudi Arabia. The agreement, which related to the potential construction of a Maritime Yard at Ras Al Khair in e
Read moreBroker tips: Next, Lamprell, Hansteen
29th Mar 2016 13:52
(ShareCast News) - Deutsche Bank upgraded Next to 'buy' from 'hold' but cut the price target to 6,850p from 7,200p following the company's full year results last week. It said the 15% drop in the share price leaves Next on a 7% discount to the sector which seems like an over-reaction. DB said that
Read moreLamprell slides on Canaccord downgrade
29th Mar 2016 09:17
(ShareCast News) - UAE-based oil rig maker Lamprell was under the cosh after Canaccord Genuity cut its rating on the stock to 'hold' from 'buy' and slashed the price target to 95p from 150p saying the company's transformation has stalled. The brokerage said that while there is a large medium-term op
Read moreLamprell CEO to step down in 2016
14th Aug 2015 09:40
(ShareCast News) - James Moffat will retire from his role as Lamprell's chief executive next year, the London-listed company said on Friday. In a short statement, the fabrication, engineering and contracting service company to the offshore and onshore oil and gas industry said Moffat will step down
Read moreMonday broker round-up
1st Jun 2015 09:48
Lamprell: Citi reiterates neutral recommendation and raises target to 155p. British Land: JP Morgan ups target to 970p from 950p and stays at overweight. Derwent London: JP Morgan raises target to 3,900p from 3,800p but keeps at overweight. Great Portland Estates: JP Morgan lifts target to 920p fr
Read moreLamprell chairman buys shares as full-year profits double
19th Mar 2015 16:16
The non-executive chairman of Lamprell bought some shares in the group after reporting that its full-year profits more than doubled thanks to strong project deliveries. John Kennedy purchased 18,505 shares for an individual price of 101.04p, spending a total of £18,697. Following the purchase, Kenn
Read moreSector Movers: Real estate and housebuilders in the green, but tobacco takes a hit
19th Mar 2015 14:35
The UK 2015 Budget continues to impact market sentiment as real estate and housebuilding stocks followed oil and gas services companies in posting an uptick in performance. In his final budget before the General Election on May 7, Chancellor George Osborne announced a series of measures considered t
Read moreLamprell lamped after warning oil slump will hit 2015 profits
12th Jan 2015 17:19
Despite hailing a strong finish to the year that will push 2014 results higher than forecasts, shares in Lamprell slid lower after the oil engineer warned that hitting its targets for 2015 will be difficult in the new lower oil price environment. The FTSE Small Cap group said management now expected
Read moreSector movers: Energy stocks tank as oil-price plunge intensifies
10th Dec 2014 15:43
Stocks in the oil producing and oil services sectors were hit by renewed selling pressure on Wednesday as crude prices dropped to fresh five-year lows. A weaker demand forecast from OPEC and a surprise increase in US crude inventories were weighing heavily on oil prices in afternoon trade, with Bren
Read moreLamprell sells Middle East oil services business for $3m
2nd Dec 2014 07:54
Oil services group Lamprell is off-loading a non-core Middle East service business for $3m. Lamprell is selling Litwin PEL, an engineering and contracting company that serves the oil and gas, chemical and petrochemical industries in Abu Dhabi, to the Nauvata group of companies. The sale of Litwin,
Read moreSector movers: Oil services bear the brunt of OPEC decision as outlook sours
28th Nov 2014 14:03
Oil-related stocks were continuing to feel the impact from a recent plunge in crude prices on Friday, though companies in the energy-services sector were bearing the brunt of the selling pressure. The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday not to scale back their pr
Read moreSector movers: Petrofac profit warning sinks oil services stocks, OPEC meeting eyed
24th Nov 2014 15:11
A profit warning from blue-chip oilfield services group Petrofac rattled the oil services, equipment and distribution sector in London on Monday, with stocks falling by an average 10%. There was nervousness ahead of a pivotal meeting of the Organization of Petroleum Exporting Countries (OPEC) on Thu
Read moreLamprell expects windfall from rig completion
21st Oct 2014 08:35
Oil services group Lamprell expects a financial windfall after completing construction of a second oil and gas rig for an unidentified client. Lamprell said it had finished building the Caspian Sea jackup drilling rig, the "Mercury", ahead of time, which meant it would be able to release contingenci
Read moreSector movers: Cyclicals slump, defensives rise as risk appetite wanes
10th Oct 2014 14:06
Cyclical sectors such as mining and oil services were bearing the brunt of the market sell-off on Friday as fears about a global economic slowdown prompted investors to scale back risk appetite. Mining heavyweights such as Antofagasta, Glencore, Fresnillo and BHP Billiton were all under pressure as
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