Balanced Portfolio - Re-Buy Worley Limited (WOR)
Date: 30/04/2024
*** GENERAL AVICE ONLY***
Worley Limited (WOR) is an Australia-based provides professional project and asset services in the energy, chemicals and resources sectors. The Company offers digital, consulting, engineering and design, construction management, construction and fabrication, project management, and operation and maintenance services, as well as maintenance, modification and operation services. In energy sector, it produces energy from various conventional and low-carbon energy sources, such as oil and gas, wind, solar, hydrogen, and other, as well as projects related to power generation, transmission and distribution. In chemicals sector, it manufactures, processes and refines chemicals and fuels, such as renewable fuels, petrochemicals, polymers and specialty chemicals. In resources sector, it processes mineral and metal resources, including those central to the energy transition and resource projects related to water use and reuse, the environment, transport, ports and site remediation and decommissioning.
Mkt Cap: $7.79B
PE: 32
Yield: 3.4%
*** Trade Plan ***
WOR has dropped 10% today as its largest shareholder, Dubai-based infrastructure group Sidara (nee Dar Group), locked in $14.35 a share for its sale of a 19 per cent stake.
Recently we took a 10% profit on WOR at $16.56 with a view to re-buy the holding under $15
The sale from the major shareholder doesn’t impact the outlook on WOR company performance and outlook for growth.
We believe the stock offers significant earnings leverage to a potential four-fold increase in energy investment globally along with decarbonisation projects
Total Portfolio Allocation: Add 3% of portfolio
Entry: $14.80 | Target: $17.50 | Stop: $14.00
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.