JPMorgan Chase & Co. boosted its stake in shares of Willbros Group Inc (NYSE:WG) by 1,571.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,580 shares of the oil and gas company’s stock after buying an additional 62,597 shares during the period. JPMorgan Chase & Co. owned about 0.11% of Willbros Group worth $216,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WG. Vanguard Group Inc. raised its holdings in Willbros Group by 13.6% during the 2nd 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. Dimensional Fund Advisors LP raised its holdings in Willbros Group by 8.4% during the 2nd 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. Macquarie Group Ltd. acquired a new stake in Willbros Group during the 3rd quarter worth about $207,000. TIAA CREF Investment Management LLC raised its holdings in Willbros Group by 19.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 351,611 shares of the oil and gas company’s stock worth $868,000 after buying an additional 56,036 shares during the period. Finally, State Street Corp increased its holdings in shares of Willbros Group by 6.4% in the 2nd quarter. State Street Corp now owns 585,889 shares of the oil and gas company’s stock valued at $1,447,000 after purchasing an additional 35,087 shares during the period. Hedge funds and other institutional investors own 65.57% of the company’s stock.
A number of brokerages have recently weighed in on WG. Zacks Investment Research downgraded Willbros Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. ValuEngine downgraded Willbros Group from a “sell” rating to a “strong sell” rating in a report on Thursday, November 9th.
Willbros Group (NYSE:WG) last issued its earnings results on Wednesday, November 8th. The oil and gas company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.49). The business had revenue of $240.77 million during the quarter, compared to analyst estimates of $246.20 million. Willbros Group had a negative net margin of 8.45% and a negative return on equity of 54.91%. Willbros Group’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. sell-side analysts forecast that Willbros Group Inc will post -0.87 earnings per share for the current fiscal year.
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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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