Zacks Investment Research Upgrades Willbros Group, Inc. (WG) to Buy

Willbros Group, Inc. (NYSE:WG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The brokerage currently has a $3.25 price target on the oil and gas company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.62% from the company’s current price.

According to Zacks, “Willbros Group, Inc. is an independent contractor serving the oil, gas and power industries, providing construction, engineering and specialty services to industry and government entities worldwide. They place particular emphasis on projects in developing countries where they believe their experience gives them a competitive advantage. “

Several other analysts have also issued reports on WG. ValuEngine raised Willbros Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Credit Suisse Group boosted their price target on Willbros Group from $1.25 to $1.35 and gave the company an “underperformer” rating in a report on Wednesday, August 16th.

Shares of Willbros Group (NYSE WG) opened at 3.02 on Friday. Willbros Group has a one year low of $1.42 and a one year high of $3.84. The company’s 50-day moving average price is $2.33 and its 200-day moving average price is $2.46. The stock’s market cap is $191.17 million.

Willbros Group (NYSE:WG) last released its quarterly earnings results on Monday, July 31st. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. Willbros Group had a negative return on equity of 31.89% and a negative net margin of 6.17%. The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $193.61 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Willbros Group’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts anticipate that Willbros Group will post ($0.23) earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in the company. State Street Corp lifted its position in shares of Willbros Group by 6.4% in the second quarter. State Street Corp now owns 585,889 shares of the oil and gas company’s stock valued at $1,447,000 after acquiring an additional 35,087 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Willbros Group by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,455,337 shares of the oil and gas company’s stock valued at $6,065,000 after acquiring an additional 191,019 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Willbros Group by 13.6% in the second quarter. Vanguard Group Inc. now owns 1,746,918 shares of the oil and gas company’s stock valued at $4,315,000 after acquiring an additional 209,441 shares in the last quarter. Northern Trust Corp lifted its position in shares of Willbros Group by 4.0% in the second quarter. Northern Trust Corp now owns 499,507 shares of the oil and gas company’s stock valued at $1,234,000 after acquiring an additional 19,269 shares in the last quarter. Finally, Menta Capital LLC lifted its position in shares of Willbros Group by 5.8% in the second quarter. Menta Capital LLC now owns 133,984 shares of the oil and gas company’s stock valued at $331,000 after acquiring an additional 7,400 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

About Willbros Group

Willbros Group, Inc is a specialty energy infrastructure contractor serving the oil and gas and power industries with offerings that primarily include construction, maintenance and facilities development services. The Company operates through three segments: Oil & Gas, Utility T&D and Canada. The Company provides services through operating subsidiaries.

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