Balanced Portfolio - Worley Limited (WOR)
Date: 07/02/2024
*** 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: $7.8B
PE: 19
Yield: 3.6%
*** Trade Plan ***
WOR share price was previously trading comfortably in a range between $16.50 and $17.50 for the majority of 2023. During January 2024, WOR has fallen from that range down to a low around the $14.50 level. The presents us with an opportunity to add WOR to the portfolio at reasonably cheap levels. WOR being in the energy services sector means their services are still in high demand as the world goes through an energy transition. Look to add WOR around the $15 level with a view for it to rebound back to the middle of the recent range at $17. WOR also reports on the 21st February 2024 and has a tendency to beat expectations.
Total Portfolio Allocation: 3%
Entry: $15.10 | Target: $17.00 | 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.