Willbros Group (WG) Shares Down 7.7%
Willbros Group Inc (NYSE:WG) dropped 7.7% on Thursday . The company traded as low as $1.31 and last traded at $1.32. Approximately 925,660 shares traded hands during mid-day trading, an increase of 257% from the average daily volume of 259,365 shares. The stock had previously closed at $1.43.
A number of equities research analysts have issued reports on WG shares. Credit Suisse Group upped their price objective on shares of Willbros Group from $1.25 to $1.35 and gave the stock an “underperformer” rating in a research report on Wednesday, August 16th. ValuEngine downgraded shares of Willbros Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research downgraded shares of Willbros Group from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.
The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.29 and a current ratio of 1.30.
A number of hedge funds have recently modified their holdings of WG. First Quadrant L P CA bought a new stake in Willbros Group in the 3rd quarter worth about $111,000. Rhumbline Advisers grew its position in shares of Willbros Group by 10.1% during the 2nd quarter. Rhumbline Advisers now owns 49,560 shares of the oil and gas company’s stock valued at $122,000 after acquiring an additional 4,550 shares during the period. OxFORD Asset Management LLP bought a new position in shares of Willbros Group during the 3rd quarter valued at approximately $195,000. Macquarie Group Ltd. bought a new position in shares of Willbros Group during the 3rd quarter valued at approximately $207,000. Finally, JPMorgan Chase & Co. grew its position in shares of Willbros Group by 1,571.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,580 shares of the oil and gas company’s stock valued at $216,000 after acquiring an additional 62,597 shares during the period. 65.59% of the stock is owned by institutional investors and hedge funds.
Willbros Group Company Profile
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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