Member Info for wolfhound

He might need a few $$$ billion to do that, whereas in a merger he might get top seat at a much larger entity and not have to stump up anymore cash.....

@BN56 - I can only surmise that now their integration of Amec Foster Wheeler is complete markets might have concerns they might be looking to do further acqn before they have really achieved all of the synergies they might and might also therefore increase debt...... of course who do we know that might be a target.......

@Bluelight, indeed and for all we know they have been approached - after all there was quite a bit of director buying recently..... my guess is that management haven't been selling off non-core assets ( mexico, north sea and deep sea ship) and paying down debt unless they are getting it ready for something...........

The declining shorts tell me it is getting closer....

@Darby, no worries , easy to misinterpret what are clumsy forms...had to re-read it myself.

@hey_arnold, I get that but if I was investor in a B'rock fund I would be qurstioning why go with B'rock if left hand says go ling and right hand says go short.... not exactly a 100% convinced.... if one IM can't convince the other IM in the same stable as to his convuction trade, certainly wouldn't be investing my money..🤔

@Darby, yep you might want to re-read it....

Position of previous notification .....5.03%
Resulting situation on the date on which threshold was crossed or reached.........under 5%

....that would be a reduction.... all we kniw is that it is above the next threshold which is 3%... so position now is between 3.000000001 and 4.9999999999999

What I stills find more interesting is they have uk fund short and the US long stock......might be different investment managers but I would expect a single view from Black rock unless it was replicating an index where petrofac was part of the ondex.

Blackrock inc. have i believe reduced their long from over 5% to under 5%, Blackrock Investment Managment (UK) , have reduced their short from a peak of 1.8% in July to 1.09% now......

So as a firm they are actually long, albeit the funds will have opposite positions.....wonder how they square being long one fund and short another to investors.....hmmmmmm

@ DT - would t disagree that shorts will try every trick in the book to hold back a changing tide, but they are only likely to delay the inevitable here, Shorts have reduced from 9.54% in start of july to 7.64% on 31 aug, that is 20% reduction in 2 months - considering mv of £2.2bn , every 1% reduction in short represents a £22+mn unwind of a short - and we have seen that for two months in a row - that to me is aggressive.

Correlate that to the performance in sp which has risen from 555p to 652p more or less 20%.or £1.00, as other shorts head to the exits for the residual 80% of the short expect the sp to rise significantly. 800p+ would not be a surprise if shorts reduced by a further 20%-30% IMHO

IMHO graph looks well poised for a breakout past the 680p resistence this week and hopefully we see a sustained climb to a new yearly high.

Good to see shorts are also reducing agressively now down to 7.64%

GLA

What is interesting is that MS have reversed their view from June and now going with a higher target - they clearly seena change in drivers :
* cheap oil gone for forseeable
* Debt going via $0.8bn cash from asset sales
* SFO - lead suspended for GM
* strong pipeline ahead and profits rising

The shorters will be making their way to the exit IMHO

...and overall the upward trend continues and shorts are reducing

GLA

Parachutes have all been requisitioned by the shorters as they try to slow their fall into the burning fires of hades...... as the sp soars away from their grasp........hard luck 4 them the parachutes are not fire resistant..... lol

No worries ifonly - if sp climbs to where i hope, and you are holding 2500 shares - thats will still be a very nice return...

Ifonly - i know your preference is to focus on short term but PFC is one of those rare stocks where taking a longer is more adviseable. Have a look back to sp in 2012/13 when it was touching £18 and profits were $630+

So if we can get back up to those profit levels then £18+ should be a possible for long term holders

I would go so far as to say post the november upper houses elections I suspect the oil price will be left rise.... and that will further play into petrofac sp rises.

GLA

They won't have sold an asset that was performing well, 43mn paper loss is a good deal, and the cash will further reduce debt - we paid $70mn in interest in 2017 on $0.9 bn, by 2019 - that will hopefully be $60-70mn more profit.

If profits get back to $650mn+ p.a. then sp will be 3 times where it is now. As it stands all we will need is one/two new big deals announced and will be largely there.

Keep strong and long for the big profits

Oh, and we are at a 12 month high on sp.....

I think the shorters are bricking it !

We are 2 days away from interims, management have been delivering on reducing debt through asset sales, arranged finance facility, have won significant business, have a healthy pipeline, lead sfo investigator suspended ...and they are already 8.4% short

Not to mention with all the tidying up of balancesheet PFC becomes a much more straight forward and attractive bid target..

If they go more it is a daring double down equating to aiming a double barralleled shot gun on themselves, one false move ( positive news) and they will get an absolute kicking as they will be squeezed hard by ii's - who could recall thier shares and get an instant 30% rise in sp....

Shorters might just reassess and decide to cut their losses.... lets see.

There is a repeat pattern, spike up in am, ii sell into it, sp drops and come afternoon sp spiked up as US market opens.

Perhaps MM have a large order to fill in background

Heres to shorters re-assessing their position and getting a dam good squeeze into the process and sp propells back into 800p+ rsnge.

One good RNS on a contract win or even press speculation of an approach and sp will rocket IMHO - shorters got to be re-assessing their risk here - SFO concerns with Martin suspended for GM certainly will makevthat less compelling.

Never know - maybe the shorters are getting out before the squeeze :) results out 29th, lots of positive work on balancesheet as already noted by other poster - WG highlights sector is growing and they also have same SFO challenge

Barc were pretty spot on calling the 6% rise in Wood Group today.... still like to get a peek at that fag packet :)