Raymond James initiates coverage of Petrofac, Wood Group
17th Oct 2016 09:32
(ShareCast News) - Raymond James initiated coverage of Wood Group at 'outperform' with a 900p price target. It said Wood was in the frontline to take advantage of the oil market recovery it expects. Raymond James said management has weathered the downturn well, preserving the strong balance sheet.
Read moreWood Group secures contract with Suncor Energy to reduce oil well costs
11th Oct 2016 07:55
(ShareCast News) - Oil and gas service company Wood Group was awarded a three-year contract to work on Suncor Energy's heavy oil well pads in Canada due to its cost-saving designs. Wood Group received the first authorisation under a multi use agreement with Suncor Energy, to work at its Firebag site
Read moreSector movers: Miners and oil service firms pace gains
19th Sep 2016 16:22
(ShareCast News) - Miners were pushed higher by rising prices for metals and positive comments from some top brokers. Contributing to the price action, analysts at Credit Suisse bumped up their 2017 price projections for thermal and coking coal, from $55 and $94 per tonne to $60 and $119, respective
Read moreCredit Suisse starts Petrofac and Wood Group at outperform
19th Sep 2016 12:57
(ShareCast News) - Markets were already looking ahead to European oilfield services companies emerging fitter and leaner from the worst downturn in exploration and production in over a generation, analysts at Credit Suisse said. "Unlike 2009, this downturn has been sufficiently long to spur behaviou
Read moreBroker tips: Pets at Home, Wood Group, Astrazeneca
12th Sep 2016 11:03
(ShareCast News) - Citigroup initiated coverage of Pets at Home at 'buy' with a 275p price target, given its expectation of the medium-term margin upside opportunity and cash returns. The bank reckons that over the next 10 years, the vet business could generate an incremental £40m earnings before in
Read moreMonday broker round-up
12th Sep 2016 09:24
(ShareCast News) - Autotrader: Barclays reiterates equal-weight with a target price of 375p. Hikma: Jefferies maintains buy with a 2500p target. Wood Group: Exane BNP Paribas upgrades to buy with a 815p target. Man Group: Citigroup upgrades to buy with a 137p target. McCarthy & Stone: Goldman Sac
Read moreExane upgrades Wood Group, highlights promising Upstream engineering pipeline
12th Sep 2016 07:46
(ShareCast News) - Exane BNP Paribas upgraded Wood Group to 'outperform' from 'neutral' and raised the price target to 815p from 695p. It noted the shares have lagged more operationally-geared peers year-to-date. "Wood offers relatively low-risk exposure to a number of areas of early-cycle spending
Read moreWood Group H1 profit and revenue slide; wins $700m Kazakhstan contract
16th Aug 2016 07:23
(ShareCast News) - Wood Group posted a drop in profit and revenue for the first half amid "challenging" conditions in the oil and gas market but reaffirmed its outlook for the full year. In the six months to the end of June, profit slumped 63.2% to $44.6m as revenue declined 16.6% to $2.56bn. Chief
Read moreTuesday newspaper round-up: ARM, Trident, North Sea strike, Ofwat
19th Jul 2016 07:01
(ShareCast News) - One of the country's best-known entrepreneurs has raised fears that Britain's largest technology company will be milked for its cash after it is sold to SoftBank, of Japan, for £24.3 billion. Hermann Hauser, founder of Acorn Computers, the parent of Arm Holdings, has declared that
Read moreWood Group sees no change in full year outlook
30th Jun 2016 07:36
(ShareCast News) - Oil engineering services firm Wood Group said the full year outlook remained unchanged with no alteration to the guidance given in May on earnings before interest, tax and amortisation being 20% lower on 2015. "The current environment remains challenging, however we are encouraged
Read moreWood Group secures multi-million dollar contract offshore Brazil
28th Jun 2016 07:43
(ShareCast News) - Energy services company Wood Group has secured a multi-million dollar engineering and procurement services contract for Statoil's Peregrino field offshore Brazil. The company's subsidiary, Wood Group Mustang, will perform the work for Kiewit Offshore Services, which is a fabricato
Read moreWood Group buys EESL fabrication unit from administrators
17th Jun 2016 07:23
(ShareCast News) - Energy industry services firm Wood Group said it had bought the trade and assets of Enterprise Engineering Service Limited's (EESL) Aberdeen-based fabrication and manufacturing business from administrators for an undisclosed sum. The employees of the business will transfer to Wood
Read moreWednesday broker round-up
15th Jun 2016 15:32
(ShareCast News) - Arrow Global Group: Goldman Sachs reiterates buy with a target price of 340p. Crest Nicholson: JP Morgan keeps at overweight with a 700p target. Shire: Exane BNP Paribas stays at outperform with a target price of 5700p and Jefferies keeps at buy with a target price of 5500p. Woo
Read moreBroker tips: Wood Group, Jimmy Choo, Lonmin
15th Jun 2016 11:02
(ShareCast News) - Shares in oil and gas services company Wood Group rose on Wednesday as Jefferies initiated its rating on the stock at 'buy'. "The company, in our view, has executed a far more coherent growth/mergers and acquisitions strategy compared to UK Service peers, Amec Foster Wheeler and P
Read moreFTSE 250 movers: Resources rise with gold, crude as Brexit jitters dampen housebuilders
6th Jun 2016 15:10
(ShareCast News) - Rising crude and metals prices helped propel several resources-linked FTSE 250 stocks higher in an overall quiet session, with concurrent Brexit jitters weighing on the housing sector. At 1519 BST, West Texas Intermediate crude was up 1.83% to $49.51 a barrel, while Brent firmed 1
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