Member Info for RealitBites

Give him the benefit of the doubt.
Could just be a past or present staff guy who bought in through a salary sacrafice scheme.

That's a bit better.
Looks like a good old fashioned 5+2 framework ageement. Probably (hopefully) reimbursible so relatively low risk.
A few more of these over next few weeks please and thank you.

Interesting to see what backlog looks like at this point. Suspect a little that the update won't be too special.

It's market wide.
ECB stopping the printing press, interest rates rising amd the cost of living squeeze all causing a slow down. Fears of a recession caused by the above factors causing some to fly to safety.
Money removed from market, prices fall. Simples.

BP definitely don't do their own engineering. They have framework agreemenets and outsource all E&C to EPCs like Wood, Worley or PFC. They only act as an informed customer and oversee and approve the work. They also do more of the early conceptual stuff,but often with input from consultancies.

I am also dubious about some of the other comments on capacity and only bidding for high margin work.

As for £10 a share,thats a pipe dream. Some look back and see what this was at a few years back and think that PFC must stil be worth that and get back to those levels in the short term. But the past few years have changed this company. They have sold assets and hold much more debt, plus a dilution. As a result, they are worth much less at the moment. Even if they had revenue and backlog of the good old days.

If they can still build backlog with their now higher cost of capital and start to pay down that debt, they could return a multiple in a couple of years. But they would then have to reduce debt significantly over the following years. If they can do that while starting to build up assets again, then they could get back to the levels of a few years ago.....but thats a very long term goal that's several years down the line at this point.

My own hope was to see a 2 or 3 x return if I hold til 2023/24. If that happens, will take out the profits but keep some.

So far, new awards have been a bit few and far between for my liking. I think they need to win one or two monsters to take us past the 160 and then 200 marks. Hopefully this current pull back will stop soon. Was hoping it would stay above 140 for now.

An announcement for a 1bn contract this week would be ideal (he says thinking wishfully!)

Play the game. Buy the dip. I just shifted a few from WG to get some on that last one.

Snap. They said 2023 before those returned and need to start showing they can pay it off.
We need some big contract news. Not enough of those yet for my liking.
I fear that we could be treading water a bit until that happens.

I was hoping that might be the case. I wonder if we will get news in advance and perhaps a vote at the AGM? Or is that wishful thinking?

correction, 16million in value, not shares traded.

Interesting to note that I read some research saying the prices often do worse in the month or two after entry as people had been buying in before and making the month before better than usual.
Hopefully the fact this was a last minute change of place for a single seat, might have caught people out and we could see more gains in next few weeks as people thought they had til the end of June to do that.
Might be a factor in why so many were willing to sell in the UT today. Or could be simple profit taking by those that got lots at 115 or below....hedging and holding the remainder.

It's neither a buy or a sell in reality. It is an auction, so there were 16million shares bought and 16million shares sold.
The price is the point at which the most shares would be sold, looking at the bids of the buyers and sellers.
Irrelevant.
16million shares got sold by people either taking profits who worry of a drop from here.
16million bought by people thinking it would go up further and they wouldn't get for their fund at a cheaper price tomorrow.

Logged as a buy when you look at volumes.
That's a whopper. Good or bad for tomorrow?
I was expecting another climb with it being the day some funds officially need to hold from.

The *** relate to me using a term for someone who prejudices based on ethnicity or race.

It's a shame you got this one wrong and I'm guessing you sold out too soon.
I trust you made a healthy profit anyway, as you were bigging this share up when we last exchanged words (when you were ****** yourself by calling Scotland population ******s and biggots) below 110.

And indeed, there is some truth in what you say. But knowing this sector, not all work is susceptible to inflation as new equipment costs are often on a reimbursable basis or heavily caveated to remove such risks, in fact on much of the contracts, it all is reimbursable, manpower, everything. Energy costs for builds are borne by operator as the contractor is using power from their site, often food is even being provided FoC.
They may have undercut themselves on some of the lump some work if they weren't careful and/or expecting inflation. But is that a short term risk which will take us back to 100s? We've just had results so no IMHO.

FTSE peeps likely to cause a supply/demand related rise in share price and plenty of time to cash in on profits down the line. A pullback due to profit taking and some of this coming out in further statements could well happen, but the near term is very bright indeed and I think we will be at the lower end of those analyst ratings very soon. That is only 10-20% (the higher ones are 50%) or so above today. Which was why I took some profit (and now regretting only putting half back in on the late drop) as the WG estimates are 33 to 77% above todays price and the asset sale marching closer.

The green bin might be pending here....been a while since I've had to use that or seen any appear.

Looks like we are fortunate it was done on Friday's prices!
http://www.stockchallenge.co.uk/ftse.php
Today, it would have been given to JLEN.
Interestingly, they shot up today by roughly the same as PFC dropped.

Well, a welcome bonus whatever the cause.
I am guessing the analysts and FTSE 250 traders would have know this was coming and when?
So some may have spotted it would be PFC and have already started to buy up.
Still hopeful for tomorrow though. Hopefully we will recover todays ground and some.
May even open above yesterdays close (but hoping not for my own selfish reasons)!

Now, where's that chap that was predicting a pull back based on RSI? Hope he got back in on todays dip or he'll be kicking himself!

Well I wasn't prepared for that yet.
I thought it was June for the reshuffle. Is this purely as a stock was deleted and we were top of the pops?
That 150 might be in danger now!
I actually sold some at 149.5, transferred across to WG and then added some extra cash and bought half it back at 141.5. Rather glad I did!!!

Where will this go over next couple of days on the back of that news!

Having a look, he put up about a quarter of his shares against the loan facility of the new co.
So could potentially sell some.

Interesting question Paddy.
He has used his shares as collateral for his other venture. So if he sold, what happens there?
Might be a factor in him deciding to step down, focus on that for a while.

I personally can't see a major rerate from here without a juicy deal or two.
150 looking like a resistance point for now. But happy to be proven wrong.

We really could use some chunky wins ASAP.
I feart this could stall a little without.
Can't complain really given the performance over last month or so.
And hopefully FTSE250 buyers will keep us from pulling back too much, if at all.

As this is an active board with some knowledgable contributors and in lieu of a board for the above two companies, I thought I'd ask this here...

Anyone done research on or holding either of these two? Both companies I have experience of and respect and both have depressed prices at the mo. Was thinking of dropping my profits from a trim on WG yesterday into these two so been DMOR.
Only issue I see so far could be debt levels with interest rate rises looming.
Otherwise both look like good bets at the mo.
Thoughts?

I did set a limit sell on a portion of my WG today though. Not due to update, just as that has performed amazingly since I bought a chunk in my ISA. Just trying to figure out where (if anywhere) to put the proceeds if it hits my limit price there.
I may regret it if the asset sale is announced but suspect that'll be next month and might buy back if it the price pulls back again.
Generally don't do that but wanted to bank some of the 40% or so profits.