Wood Group (J) Share Price (WG.)

Big drop today on the back of a real slump in the oil price. Also very high volume of selling activity. Shorting has decreased quite a bit over the last week. Difficult to see this going anywhere until the company comes out with mid year numbers in August or provides some good news on contract wins or asset disposal.

Thank you for your detailed reply. Hopefully it will continue to rise ??

It tanked because of concerns over the dividend being cut. This looks much less likely given their most recent results, which beat analysts estimates. Consequently they have been upgraded to a BUY recommendation by a number for them. The stock was one of the top five most shorted in the FTSE until about a month ago, so a combination of shorters buying back their position along with long only funds buying has seen the price rise quickly. I think providing the macro remains supportive this should continue.

I'll be honest, I'm pretty new to investing. Bought a small amount of JW last year and obviously it tanked(thought it was something I'd done haha). Anyhow, noticed it has rebounded massively over the last couple of weeks.....is that likely to continue? Apologies for asking probably a dumb question but I don't have a clue how to analyse a company's future potential. Thanks I'm advance.

WG has been recommended as punt of the week in Saturday's Mail, despite its £ 1.3B debt mountain. Meanwhile, slimline PFC, with negligible debt struggles to move its SP. I will rehibernate and awaken when the SFO go away. Oh, BTW, excellent dividends to enjoy!