Zacks Investment Research Downgrades Willbros Group, Inc. (WG) to Hold
Willbros Group, Inc. (NYSE:WG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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 equities analysts also recently issued reports on WG. ValuEngine downgraded Willbros Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Credit Suisse Group boosted their price objective on Willbros Group from $1.25 to $1.35 and gave the stock an “underperformer” rating in a research report on Wednesday, August 16th.
Several hedge funds and other institutional investors have recently modified their holdings of WG. Vanguard Group Inc. boosted its position in shares of Willbros Group by 13.6% during the second quarter. Vanguard Group Inc. now owns 1,746,918 shares of the oil and gas company’s stock worth $4,315,000 after buying an additional 209,441 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in shares of Willbros Group during the second quarter worth approximately $513,000. Dimensional Fund Advisors LP boosted its position in shares of Willbros Group by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,455,337 shares of the oil and gas company’s stock worth $6,065,000 after buying an additional 191,019 shares during the period. Royce & Associates LP boosted its position in shares of Willbros Group by 9.9% during the first quarter. Royce & Associates LP now owns 1,632,409 shares of the oil and gas company’s stock worth $4,473,000 after buying an additional 147,500 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Willbros Group by 72.6% during the first quarter. TIAA CREF Investment Management LLC now owns 295,575 shares of the oil and gas company’s stock worth $810,000 after buying an additional 124,316 shares during the period. Institutional investors and hedge funds own 57.59% of the company’s stock.
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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