I have to thank Malcolm for being the contributor on this website writing most recently on the oil/energy services name Wood Group (WG.) back in July. His musings seem very akin to my own earlier in the year that 'if you have a decent stake like me then chill and write down the circa five quid level to add another slug'. That latter musing has been an unprofitable call to date but today's first half numbers have reiterated my faith in the name…
Hello, Share Toasters. It must be ten years ago now that I dumped my shares in Wood Group (WG.), the supplier of stuff and services to the black gold industry among other related functions, including greener forms of energy. I didn't regret that move as the share price hit a chequered path afterwards, suffering like all oil-related companies from the infamous oil price crash...
Wood Group (WG.) is having a volatile day and is down over 7% as I write. The share is still however the thick end of ten percent above its low point for the year...which goes to show you the material natural level of fluctuations in the oil services space. Still, with the oil price heading north again year-to-date I would have expected more especially - as I last recounted HERE - Wood Group has plenty of self-help scope resulting from the Amec Foster Wheeler deal of a little over a year ago...
Time to catch up with a half year update from Wood Group (WG.). As regular readers will remember, it is one of my tips of the year and last time I reviewed the stock I concluded that 'John Wood shares will have a 7 in front of them by the end of the year. I remain a buyer'. In short, I retain this view after yesterday's update.
Did you see Friday's AGM trading update from oil services company John Wood Group (WG.)? Obviously I was all over it like a rash given it was one of my two tips of the year in late December and - as I noted here - a couple of months ago or so, it had a slightly sluggish start. The better news is that after Friday's move the stock is now back to where it started the year - and I think we go higher from here.
Time to check in with my favoured UK energy and related sector play Wood Group (WG.) which, some of you may recall, I named as one of my tips of the year for 2018. The rationale was basically twofold. First, higher energy prices naturally improve the environment for most corporate names servicing the sector. Meanwhile second, the company had significant self-help sourced from the synergies it could gain from its increasingly timely looking acquisition of Amec FosterWheeler. Beefing up exposure and market share as a sector is coming off the bottom is typically a good probability way to create shareholder value. So how is it getting on?
In recent weeks I have talked about some lunatic M&A (Cineworld's US bet, Hammerson/Intu), but today I am going to talk about some good M&A. The trouble with investment banking lunacy is that just once in a while a good deal slips in with all the dross ones - and I want to put the acquisition by Wood Group (WG.) of Amec Foster Wheeler last year into that camp.
Hello Share Smackers. You may be getting a little tired of my banging on about my expected recovery in the price of Brent crude. Never my, my vicar’s sermon on Sunday was all about the importance of ‘pestering’ if we want to be heard by the Almighty. So I’ll keep pestering you about this.
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