Wood Group wins contract with Babcock International
1st Mar 2016 10:03
(ShareCast News) - Oil and gas services firm Wood Group has won a $120m (£86m) contract with Babcock International to provide industrial services to a number of its UK sites. The company said the contact will be delivered by Wood Group PSN's industrial service line business, Wood Group Industrial Se
Read moreFTSE 250 movers: Meggitt keeps index flying in the black
23rd Feb 2016 15:01
(ShareCast News) - In contrast to its older sibling, the FTSE 250 was in the black on Tuesday afternoon, up 16.35 points (0.10%) to 16,305.15. Meggitt led the pack after it posted a small rise in 2015 pre-tax profit and lifted its dividend despite what it referred to as a challenging year. For the
Read moreWood Group earnings drop amid weak oil prices
23rd Feb 2016 07:49
(ShareCast News) - Oil services firm Wood Group reported a drop in earnings for 2015 amid significantly reduced customer activity, as weak oil prices took their toll. For the year ended 31 December, earnings before interest, taxes and amortisation fell 14.5% to $469.7m (£333m), which was in line wit
Read moreWood Group to cut UK contractor pay by 9%
19th Feb 2016 10:59
(ShareCast News) - Wood Group PSN, a division of energy services company Wood Group, plans to cut the pay of around 200 North Sea contractors by 9% as weak oil prices take their toll. The latest reduction follows 10% cuts in May and December of 2014. Managing director for the UK and Africa, James C
Read moreBroker tips: Wood Group, ITV, AstraZeneca
8th Feb 2016 15:55
(ShareCast News) - Wood Group shares fell after Goldman Sachs downgraded the company from 'neutral' to 'sell' and cut its target price from 639.6p to 517.6p. In a note on Monday, the investment bank focused on working capital analysis, which it believed would be the key there for the oil services se
Read moreGoldman Sachs concerned about Wood Group's working capital
8th Feb 2016 15:12
(ShareCast News) - Wood Group shares fell after Goldman Sachs downgraded the company from 'neutral' to 'sell' and cut its target price from 639.6p to 517.6p. In a note on Monday, the investment bank focused on working capital analysis, which it believed would be the key there for the oil services se
Read moreMonday broker round-up
8th Feb 2016 15:02
(ShareCast News) - Petrofac: Goldman Sachs downgrades to neutral with a target of 909.8p. G4S: Jefferies downgrades to underperform with a target price of 170p. Cairn Energy: RBC keeps at outperform, 200p target. Wood Group: Goldman Sachs downgrades to sell, 517.6p target. Amec Foster Wheeler: No
Read moreFTSE 250 movers: Poor start to week as analyst note drives Wood Group down
8th Feb 2016 14:10
(ShareCast News) - It was a poor start to the week for the FTSE 250, with the second tier market down 313.83 points (1.96%) to 15,688.45 by mid-afternoon on Monday. Wood Group was one of the market's biggest fallers, as Goldman Sachs downgraded the company from 'neutral' to 'sell' and cut its target
Read moreWood Group acquires US-based Kelchner
21st Dec 2015 07:40
(ShareCast News) - Wood Group has acquired Kelchner Inc, a privately-owned US-based provider of construction and energy field services. Kelchner will operate within the onshore business of Wood Group PSN Americas, providing construction capabilities primarily to the midstream and upstream oil and ga
Read moreWood Group in $400m deal with Norway's Statoil
16th Dec 2015 07:34
(ShareCast News) - Oil services company Wood Group said it has been awarded a main contractor framework agreement worth about $400m (£265m) to deliver maintenance and modification services to four Statoil installations on the Norwegian continental shelf. Wood Group Mustang Norway will provide suppor
Read moreFTSE 250 movers: Issues in Africa cause problems for Investec and PZ Cussons
10th Dec 2015 14:33
(ShareCast News) - The FTSE 250 continued to drop on Thursday, with the market down 52.17 points (0.30%) to 17,087.68 by mid-afternoon. Political events in South Arica caused Investec to plummet throughout the day. President Jacob Zuma on Wednesday evening fired the country's finance minister, Nhlan
Read moreLondon midday: Equities slide as BoE keeps interest rates unchanged
10th Dec 2015 11:09
(ShareCast News) - UK equities declined as the Bank of England voted 8-1 to keep interest rates unchanged. The BoE left interest rates at 0.5% and the asset purchase programme at £375bn, as expected by analysts, amid a slowdown in emerging economies, low inflation and a strong pound. The minutes of
Read moreJohn Wood Group on track to raise dividend
10th Dec 2015 08:47
(ShareCast News) - John Wood Group expects to hit all of its targets for the full-year 2015, including a double-digit increase to its dividend. In a pre-close trading update, the oil field services company said full-year earnings before interest, taxes and amortisation would be in-line with its own
Read moreWood Group secures multi-year contract with ConocoPhillips
8th Dec 2015 07:28
(ShareCast News) - Wood Group has secured a new, multi-year contract with oil and gas company ConocoPhillips in Australia. The oil services group's PSN division will deliver brownfield engineering services to the Bayu-Undan field located south west of Timor-Leste and the Darwin liquefied natural gas
Read moreFTSE 250 movers: AO World surges but energy-related stocks slump on oil price
7th Dec 2015 14:00
(ShareCast News) - London's FTSE 250 was up 0.3% to 17,417.09 at 1430 GMT, tracking broader gains as equity markets recouped last week's losses. Shares in AO World surged on Monday after the online electrical appliance retailer said fund manager Ruane, Cunniff & Goldfarb has taken a 5% stake in the
Read more