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Buys gone through after the close. I'd always take questor with a large pinch of salt .... Did he say sell when they were £7.50/8? If he did , fair play, but always to make an opinion after news.
Amec Foster Wheeler 574p -173p Questor says SELL The much hoped for recovery in the oil price hasn’t transpired, and now oil services group Amec Foster Wheeler [LON:AMFW] is having to prepare for the long haul by slashing the dividend and cutting costs to the bone. http://www.telegraph.co.uk/finance/markets/questor/11979153/Questor-share-tip-Sell-Amec-as-dividend-slashed.html
In my opinion....23% followed by a 9.5% drop (currently). goes ex-div on 26/11 for 14.8p. this is still a quality company.
Thanks Thetruthhurts, I have just bought another 500 at 525.75, so I am putting my money where my mouth is. Let's hope it starts to turn around soon.
On that considered reasoning I've just doubled my holding GL
The two new ratings in this link are Neutral at 600p by UBS and Overweight at 739p by JPM. Additionally Goldman Sachs have posted a Buy at 850p. So no reason there for a drop to 540p in my view. The two stated dividends of a confirmed 14.8p in Jan and a predicted 14.2p next July (total 29p) represent above 5% for holding the shares a mere 8 months. Assuming you then sell at the lowest current prediction of 600p, a very reasonable profit will be achieved.
Thanks, but wouldn't say I was 100%. Didn't envisage the crooks in charge it dropping so hard at opening . I had a buy order at a limit of 552, which thankfully got filled at 538, and bought another 500 at 549 . I need to be patient! Having said that, comfortable with my relatively small holding of 1500 at circa 545ish. Will probably add more on any further weakness.
In and out yesterday at 5.80 Back in today at 540 Happy to stay in over w/e
BUZZ-Amec Foster Wheeler: falls for second day as brokers cut ratings https://uk.finance.yahoo.com/news/buzz-amec-foster-wheeler-falls-083006393.html
100% prediction well done
THE chief executive of Oil & Gas UK, Deirdre Michie, has said North Sea firms will continue to curb activity and cut costs in response to the crude price fall. However, Ms Michie said firms also understood the need to develop new and more efficient ways of working. Opening a conference held in Aberdeen to encourage co-operation in the sector, Ms Michie said: “Stopping activity and cost cutting have been and continue to be levers that get pulled as companies try to manage their way through these times. But we can also see a really positive momentum building in terms of seeking sustainable improvements in efficiency.” http://www.heraldscotland.com/business/13948827.More_North_Sea_cut_backs_in_prospect_warns_industry_leader/
NORTH Sea engineering giant Amec Foster Wheeler has slashed its dividend and said it expects profit margins to fall as the company prepares for what it expects will be a long downturn in oil and gas markets. Amec, which employs around 5,000 people in the North Sea on work like running offshore platforms, highlighted challenging trading conditions for services firms as oil and gas companies cut activity in response to the crude price slump. http://www.heraldscotland.com/business/13948819.North_Sea_engineering_giant_slashes_dividend_and_costs/
it falls further tomorrow morning. in these situations you usually get a bounce (of course), but sometimes after a further 5%ish has been knocked off....so maybe retest 550 and i'll be in.
I am in hope for bounce. 620 would be good. 7 better
a big drop, even with the divi cut. I topped up at 555; let's hope it doesn't tank again tomorrow.
Amec Foster Wheeler halves dividend, sending shares down 25% Shareholders in energy services firm Amec Foster Wheeler clobbered by halving of dividend and 25% drop in share price Read more: http://www.thisismoney.co.uk/money/markets/article-3305010/Amec-Foster-Wheeler-halves-dividend-sending-shares-25.html#ixzz3qdFRPbcD Follow us: @MailOnline on Twitter | DailyMail on Facebook
Shares in Amec Foster Wheeler dive 25pc after it halves dividend http://www.telegraph.co.uk/finance/markets/marketreport/11976731/Shares-in-Amec-Foster-Wheeler-dive-after-it-halves-dividend.html
Amec Foster Wheeler warns on profits and halves dividend Share 11:42 05 Nov 2015 Oil & gas services company blames falling oil prices for lower demand http://www.proactiveinvestors.co.uk/companies/news/117122/amec-foster-wheeler-warns-on-profits-and-halves-dividend-117122.html
Think the divi cut did this more than the update tbh - thats why I am confident of 580 at least
Actually looks well run - a bit like AVV was Have bought a few as the update didn't look any worse than a lot of co's
No way, if the divi gets cut then the income funds will sell out thus further depressing the share price.
price has over-reacted falling by over 23pct. Hope so as have bought in today for a recovery.
Looks like Jefferies were the ones to get this one right with their down grade to 520p where this looks like it could be heading.
Abu Dhabi next week. http://www.worldoil.com/news/2015/11/04/increasing-efficiency-is-key-to-success-in-middle-east-says-amec-foster-wheeler Chief Executive Samir Brikho will outline the importance of efficiency during ADIPEC when he takes part in a panel session entitled Operations: The New Era of Operations Efficiency. Despite the current market challenges, Amec Foster Wheeler has continued to expand in the Middle East and has been awarded several key contracts in recent months, the most recent is a project management consultancy contract extension for the UZ750 project in the Upper Zakum field. Amec Foster Wheeler is also actively working on mega projects in Kuwait, Saudi Arabia, Iraq, Qatar and Oman.
Amec Foster Wheeler says increasing efficiency is key to success in the Middle East http://www.yourprojectnews.com/amec+foster+wheeler+says+increasing+efficiency+is+key+to+success+in+the+middle+east_123261.html