WOR - Worley Limited

[michael_selway]

Hi Bigdog

God, still can't believe that I didn't buy this thing at $31.50........

Textbook example of a short squeeze here, broke out of a resistance point, didn't even retrace and hasn't stopped flying since.... At the close of business on Friday, there were still 4.9 Mil short, a huge huge position to be hanging on too. I wonder if they were busy covering today????

Good luck to all holders here, it should retrace (hahaha eventually!!!)

Cheers

hehe not bad, but PE is gettignhigh, although have to wait and see if it canbeat analysts forecasts

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 67.9 104.1 140.0 160.0
DPS 41.0 62.1 79.4 94.3

EPS(c) PE Growth
Year Ending 30-06-07 104.1 32.8 53.3%
Year Ending 30-06-08 140.0 24.4 34.5%

Another one similar to WOR in business is MND

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 35.2 69.5 73.0 81.6
DPS 33.0 62.0 63.5 71.0

EPS(c) PE Growth
Year Ending 30-06-07 69.5 22.3 97.2%
Year Ending 30-06-08 73.0 21.3 5.0%

I have a feeling it might over take WOR's price sometime next year

thx

MS

 

[reece55]

hehe not bad, but PE is gettignhigh, although have to wait and see if it canbeat analysts forecasts

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 67.9 104.1 140.0 160.0
DPS 41.0 62.1 79.4 94.3

EPS(c) PE Growth
Year Ending 30-06-07 104.1 32.8 53.3%
Year Ending 30-06-08 140.0 24.4 34.5%

Another one similar to WOR in business is MND

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 35.2 69.5 73.0 81.6
DPS 33.0 62.0 63.5 71.0

EPS(c) PE Growth
Year Ending 30-06-07 69.5 22.3 97.2%
Year Ending 30-06-08 73.0 21.3 5.0%

I have a feeling it might over take WOR's price sometime next year

thx

MS

Michael...
Certainly this is more a momentum play than anything else, it is extremely expensive on a P/E valuation methodology. But the rate at which they are achieving the growth in their profits, as well as the incredibly profitable industry they operate in, is causing this one to have such a high premium...

Have a look at Haliburton in the US, they are much more reasonably priced with the same type of exposure..... love that stock....

Cheers

 

[michael_selway]

Michael...
Certainly this is more a momentum play than anything else, it is extremely expensive on a P/E valuation methodology. But the rate at which they are achieving the growth in their profits, as well as the incredibly profitable industry they operate in, is causing this one to have such a high premium...

Have a look at Haliburton in the US, they are much more reasonably priced with the same type of exposure..... love that stock....

Cheers

The rate of growth in EPS is actually decreasing 54% then 35% then 15% forecasted for teh next 3 years

Unless obvoiusly they beat forecasts (expectations) e.g. LEI



thx

MS

 

[bigdog]

2017? Buy now! Here are the tips for 10 years' time
Marcus Padley
June 16, 2007

Extracts of article:
BUFFETT reckons he wouldn't care if the sharemarket closed for 10 years. OK, done. As of next Friday they are going to close the sharemarket for 10 years. You have a week to get set. What are you going to buy? Here's my
guess.

Mining services companies follow. If the resources sector makes money, then so will these. Let's have a few Worley Parsons and some of those Boart Longyear. I know everyone bagged them on the float but they just went into the ASX 200 and will be climbing, not falling.

I have been in since Feb 2006 at $14.45 and in love with WOR
-- looks like the chinese also love WOR!!!!

Repeat of my prior post #78
https://www.aussiestockforums.com/forums/showpost.php?p=176753&postcount=78

 

[bigdog]

The Share Cafe Newsletter

WELCOME TO SHARE CAFE | NEW? CLICK HERE TO JOIN +
-- free to join for sharemarket newsletter
http://www.sharecafe.com.au/user_register.asp

WOR - Credit Suisse rates the stock as Upgrade to Outperform from Neutral

BROKER NEWS - 07/08/2007

The broker has upgraded its rating following recent relative underperformance by the stock, as in the past two trading weeks the shares have fallen 3.6% against a 2.7% fall in the broader market.

Target price is $40.00. Current Price is $33.26. Difference: $6.74 - (brackets indicate current price is over target). If WOR meets the Credit Suisse target it will return approximately 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).

 

[bigdog]

Annual results issued to ASX today

WORLEYPARSONS ANNOUNCES RECORD PROFIT
Highlights

• Full year net profit up 61.6 % to $224.8 million
• Colt integration and performance are positive
• Full year EBITDA growth of 60.7% to $353.4 million
• Normalised EPS up 57.5% to 105.4 cents per share
• International operations contribute 72.4% of earnings
• EBIT and net margin expansion
• Final dividend increased to 32.5 cents per share (2006: 22.5 cents per share)
• Continued positive outlook for 2008

27/08/2007 Full Year Results Presentation
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00752213

27/08/2007 Media Release Full Year Result
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00752206

27/08/2007 Preliminary Final Report Appendix 4E 2007
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00752201

 

[bigdog]

The market liked todays announcements with SP up $2.20 up 6.47%

Currently WOR $36.20 +$2.20 +6.47% 26,681 shares $956,193 @ 27-Aug 10:11:23

 

[vishalt]

when worley parsons reports and goes up, it does so for many many dollars.

im in, bears can piss off and cry about this stock being neutral all they want, lol.

 

[bigdog]

There are few of us the love Worley and many others too!

the All Ordinaries is currently: 6068.5 down 108.8

WOR SP is currently up 18 cents
WOR $37.48 +$0.18 +0.48$ $37.49 high and low of $36.01 123,911 shares $4,549,324 @ 29-Aug 11:13:04

WOR 52-wk High is $37.5000

 

[Dutchy3]

This is a strong performer ... clearly demonstrated again today, on heavier volume and gap its future intentions ... didn't spend much time in recent consolidating pattern either .... STRONG

 

[michael_selway]

There are few of us the love Worley and many others too!

the All Ordinaries is currently: 6068.5 down 108.8

WOR SP is currently up 18 cents
WOR $37.48 +$0.18 +0.48$ $37.49 high and low of $36.01 123,911 shares $4,549,324 @ 29-Aug 11:13:04

WOR 52-wk High is $37.5000

Its a crazy stock this one

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 100.4 146.3 174.5 206.1
DPS 60.5 81.0 95.7 114.0

thx

MS

 

[bigdog]

Look at the SP today up 87 cents
WOR $41.00 +$0.87 +2.17% high of $41.10 306,423 shares $12,398,366 @ 26-Sep 14:50:03

There are many of us that love WOR!
-- look the SP increase since Aug 16 at $29.99

Date------ Close Volume
25-Sep-07 40.13 605,300
24-Sep-07 39.80 322,873
21-Sep-07 40.05 363,608
20-Sep-07 40.45 1,348,655
19-Sep-07 40.20 1,123,210
18-Sep-07 38.20 571,724
17-Sep-07 38.50 427,141
14-Sep-07 38.45 562,637
13-Sep-07 38.00 314,306
12-Sep-07 37.73 401,200
11-Sep-07 37.69 231,805
10-Sep-07 37.70 226,518
07-Sep-07 38.10 2,100,972
06-Sep-07 37.90 570,565
05-Sep-07 37.20 547,960
04-Sep-07 37.84 232,288
03-Sep-07 37.97 390,475
31-Aug-07 38.60 531,306
30-Aug-07 38.00 773,655
29-Aug-07 37.20 427,193
28-Aug-07 37.30 631,604
27-Aug-07 36.78 698,050
24-Aug-07 34.00 661,114
23-Aug-07 33.70 811,328
22-Aug-07 33.40 362,163
21-Aug-07 33.03 690,847
20-Aug-07 31.18 1,177,178
17-Aug-07 28.90 1,162,232
16-Aug-07 29.99 1,926,303

ASX ann today
26/09/2007 Enbridge Pipelines Contract and Polestar Acquisition
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00762966

WorleyParsons awarded Facilities Construction Services contract for Enbridge Pipelines
WorleyParsons announces that Cord Projects, its Canadian - based construction and fabrication subsidiary, has reached an agreement with Enbridge Pipelines Inc. for the provision of facilities construction services on new and existing facilities at various locations within Alberta, Canada.

The term of the contract will commence effective immediately and the first term expires December 31, 2009. The indicative scope of work would lead to Cord Projects services valued at approximately CAD$90M.

Cord Projects provides mechanical, piping and structural work across Western Canada. This includes direct-hire construction services, shop fabrication and modularisation, commissioning and decommissioning and construction management.

Commenting, Mr Grill said: “This agreement extends a strong working relationship between one of WorleyParsons Canada largest customers, Enbridge Pipelines, and Cord Projects.”

WorleyParsons Acquires Polestar Applied Technology, Inc
WorleyParsons announces today that it has entered into an agreement to purchase Polestar Applied Technology, Inc. in a move that will expand WorleyParsons’ nuclear power capability and resources. The transaction is subject to U.S. regulatory approval and is expected to close in November 2007. The acquisition is valued at approximately US$11 million, representing an average 2006 - 2007 EBIT multiple of 5.9. While not material in a financial sense, this acquisition is considered to be of strategic significance as it extends the Company’s capabilities in the nuclear industry.

Founded in 1992, with offices in the USA and the UK, Polestar provides technical planning, engineering, nuclear safety and risk analysis, and related services to commercial and government clients in the USA and abroad. Polestar’s services cover all facility life-cycle phases including management and operations support and planning, security planning and testing, decommissioning planning, spent nuclear fuel storage and handling, financial and economic analyses, and communications services.

“The acquisition of Polestar increases WorleyParsons’ capability in the nuclear consulting and analysis segment of the international nuclear industry. Polestar provides recognized technology know-how that will enhance our already considerable nuclear capability and increase our breadth of services,” said John Grill, WorleyParsons’ Chief Executive Officer.

 

[Sultan of Swing]

Its a crazy stock this one

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 100.4 146.3 174.5 206.1
DPS 60.5 81.0 95.7 114.0

thx

MS

Hi Michael.

In what way do you consider this contract crazy. I've been watching it for a while and can't work out a value.

Cheers

 

[bigdog]

SP is up today currently: $45.91 +$1.01 +2.25%

$45.92 is all time high

WOR $45.91 +$1.01 +2.25% high of $45.92 218,762 shares $9,949,552 @ 18-Oct 13:37:2

Recent ASX ann were:
17/10/2007 Program Management Contract
-- WorleyParsons Awarded $US 300m Program Management Contract For Kuwait Oil Company

12/10/2007 CEO`s Address to Shareholders
12/10/2007 Chairman`s Address to Shareholders
02/10/2007 Annual Review

 

[bigdog]

http://www.theaustralian.news.com.au/story/0,25197,22821519-5005200,00.html

Worley shares soar on Saudi talks
Andrew Harrison, Dow Jones Newswires | November 26, 2007

WORLEYPARSONS said today it is in advanced talks with Saudi Arabian Oil, the world's largest oil company by production, about building a $9 billion refinery.

The engineering company may manage the construction of a planned 400,000 barrel-a-day refinery in eastern Saudi Arabia, which will process Saudi heavy crude oil and supply the local market, people familiar with the process told Dow Jones Newswires on Sunday.

Shares in WorleyParsons (ASX: WOR: quote) were up 6.3 per cent at $45.51 by late afternoon. The stock has more than doubled in the past year, compared with a 14 per cent increase in the benchmark S&P/ASX 200 Index.

WorleyParsons, which posted 62 per cent rise in net profit to $224.8 million last year, has been growing its business through acquisitions, including the $1.13 billion acquisition of a Canadian oil sands construction services company in February, and new hydrocarbon projects overseas.

The contract to build the East Coast refinery at Ras Tanura - where Saudi Arabian Oil, or Saudi Aramco, is already operating a 550,000 barrel-a-day facility, the kingdom's largest - is expected to be tendered in 2009.

WorleyParsons, whose customers include three of the world's four biggest oil producers, said it is in advanced stages of talks with Saudi Aramco about the project.

"Until the contract is finalised and executed, the company is not in a position to advise further on its value or scope," it said in a statement. "Further details of this project will be announced in the event that the negotiations are finalised and the contract executed."

Earlier, a company spokesman declined to comment on a Dow Jones report that named WorleyParsons as a candidate for the plant in competition with New Jersey-based Foster Wheeler and Canada's SNC-Lavalin Group, which also have submitted bids.

"Saudi Aramco has been a major client for a number of years and we enjoy a good working relationship with the company," a spokesman said.

Saudi Aramco is expected to award the contract in November for the East Coast refinery, the fourth new such facility to be built in Saudi Arabia, and which will increase total refining capacity to more than 3.5 million barrels a day by 2012, more than double the UK's capacity.

Refinery technology is being tendered separately from the project management and front-end engineering design contract that will be signed with WorleyParsons.

Persian Gulf governments, flush with cash from four years of high oil prices, are investing in new crude oil refineries to meet rising demand and tighter specifications for products such as gasoline and diesel.

Some Organisation of Petroleum Exporting Countries members have partly blamed a lack of global refining capacity for ongoing high oil prices.

Aramco last year signed joint venture agreements with Total and ConocoPhillips to build two 400,000-barrel-a-day export refineries on the country's east and west coasts.

 

[bigdog]

ASX ANN today

The market liked the ANN
WOR $46.57 +$1.64 +3.65% 234,005 shares $10,819,961 @ 29-Nov 11:39:41

29/11/2007 Awarded Services Contracts for Saudi Aramco
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00789080

WorleyParsons Awarded Services Contracts for Saudi Aramco’s Grassroots East Coast Refinery

Saudi Arabian Oil Company (Saudi Aramco) has awarded contracts for services to WorleyParsons for project management, front-end engineering design (FEED) development, contract bid package development, detailed design support, detailed design package preparation, and construction management services for the Saudi Aramco East Coast Refinery Project at Ras Tanura, Saudi Arabia. The purpose of the East Coast Refinery Project is to partially meet future Kingdom demand by producing fuel oil. Major scope items include several grassroots units: 400-MBOD crude distillation unit, 210-MBOD vacuum distillation unit, 120-MBOD visbreaker crude unit, 50-MBOD continuous catalyst regenerator, 20-MBOD isomerization unit, 90-MBOD diesel hydrotreater, 30-MMSCFD hydrogen plant, 185-TPD (two trains) Sulfur Recovery Unit, 820-GPM amine regeneration unit, 225-GPM sour water stripper, and related utilities, controls, inter-connections with existing facilities, flares, and tankage.

The project will begin on contract signing during the first week of December 2007 and is scheduled for completion in the first quarter of 2012. Saudi Aramco estimates the total cost of facilities will be approximately US$8 billion. WorleyParsons’ contracts are estimated to be valued at US$ 80 million.

WorleyParsons International, Inc. will furnish Out-of-Kingdom services at its offices in Arcadia, California and Beijing, People’s Republic of China. Worley Arabia will furnish In-Kingdom services at its offices in Al Khobar, Saudi Arabia and at the Ras Tanura site.

"WorleyParsons is very pleased to be part of this important undertaking by Saudi Aramco,” said John Grill, WorleyParsons’ Chief Executive Officer. “Our company has participated in major hydrocarbons projects in Saudi Arabia since 1956. We will capitalise on our long history of achievement and tap our worldwide resources to deliver a project that represents all that is best in global execution."

 

[bigdog]

The Worley SP has been magnificent during the past nine days
-- up $9.15 or 21.3%

52-wk High 52.2100 hit today
52-wk Low 18.4779

Also noted that Leighton Holdings up 3.7%on a United Arab Emirates contract worth $650m. ABN AMRO warned us yesterday that the Middle East was in a construction boom and that we were underestimating the exponential growth in the region with the oil price where it is.

WOR are also picking up contracts in the middle east
29/11/2007 Awarded Services Contracts for Saudi Aramco
http://www.asx.com.au/asx/statistics...idsID=00789080
WorleyParsons Awarded Services Contracts for Saudi Aramco’s Grassroots East Coast Refinery

Date_____ Volume_ Close $SP+/- daily
05-Dec-07 863,511 51.95 1.80
04-Dec-07 927,075 50.15 0.65
03-Dec-07 496,257 49.50 -0.58
30-Nov-07 1,690,190 50.08 2.75
29-Nov-07 714,370 47.33 2.40
28-Nov-07 544,939 44.93 0.89
27-Nov-07 584,779 44.04 -0.94
26-Nov-07 830,636 44.98 2.18
23-Nov-07 563,156 42.80

 

[michael_selway]

The Worley SP has been magnificent during the past nine days
-- up $9.15 or 21.3%

52-wk High 52.2100 hit today
52-wk Low 18.4779

Also noted that Leighton Holdings up 3.7%on a United Arab Emirates contract worth $650m. ABN AMRO warned us yesterday that the Middle East was in a construction boom and that we were underestimating the exponential growth in the region with the oil price where it is.

WOR are also picking up contracts in the middle east
29/11/2007 Awarded Services Contracts for Saudi Aramco
http://www.asx.com.au/asx/statistics...idsID=00789080
WorleyParsons Awarded Services Contracts for Saudi Aramco’s Grassroots East Coast Refinery

Date_____ Volume_ Close $SP+/- daily
05-Dec-07 863,511 51.95 1.80
04-Dec-07 927,075 50.15 0.65
03-Dec-07 496,257 49.50 -0.58
30-Nov-07 1,690,190 50.08 2.75
29-Nov-07 714,370 47.33 2.40
28-Nov-07 544,939 44.93 0.89
27-Nov-07 584,779 44.04 -0.94
26-Nov-07 830,636 44.98 2.18
23-Nov-07 563,156 42.80

Hm its has gone nuts, market appears to be lookign for a surprise in the next set up results etc


EPS(c) PE Growth
Year Ending 30-06-08 147.0 34.1 46.4%
Year Ending 30-06-09 174.3 28.8 18.6%

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 100.4 147.0 174.3 210.6
DPS 60.5 79.4 94.3 117.8

thx

MS

 

[michael_selway]

The Worley SP has been magnificent during the past nine days
-- up $9.15 or 21.3%

52-wk High 52.2100 hit today
52-wk Low 18.4779

Also noted that Leighton Holdings up 3.7%on a United Arab Emirates contract worth $650m. ABN AMRO warned us yesterday that the Middle East was in a construction boom and that we were underestimating the exponential growth in the region with the oil price where it is.

WOR are also picking up contracts in the middle east
29/11/2007 Awarded Services Contracts for Saudi Aramco
http://www.asx.com.au/asx/statistics...idsID=00789080
WorleyParsons Awarded Services Contracts for Saudi Aramco’s Grassroots East Coast Refinery

Date_____ Volume_ Close $SP+/- daily
05-Dec-07 863,511 51.95 1.80
04-Dec-07 927,075 50.15 0.65
03-Dec-07 496,257 49.50 -0.58
30-Nov-07 1,690,190 50.08 2.75
29-Nov-07 714,370 47.33 2.40
28-Nov-07 544,939 44.93 0.89
27-Nov-07 584,779 44.04 -0.94
26-Nov-07 830,636 44.98 2.18
23-Nov-07 563,156 42.80

Hm its has gone nuts, market appears to be lookign for a surprise in the next set up results etc


EPS(c) PE Growth
Year Ending 30-06-08 147.0 34.1 46.4%
Year Ending 30-06-09 174.3 28.8 18.6%

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 100.4 147.0 174.3 210.6
DPS 60.5 79.4 94.3 117.8

thx

MS

 

[bigdog]

Lots of new contracts for Worley announced recently!!

04/01/2008 WorleyParsons awarded Canadian oil sands contract
03/01/2008 Award of 5 yr Services Contract for BP Kwinana Oil Refinery
20/12/2007 Award of Key Contracts for Woodside`s Pluto LNG Project
29/11/2007 Awarded Services Contracts for Saudi Aramco