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KBR Wins Twin Global Contracts from BP International Ltd.
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Premium construction company, KBR, Inc.’s (KBR - Free Report) shares inched up 0.5% to $17.38 per share on Dec 20, after securing two global agreements from BP International Limited. The value of the contracts has not been disclosed in the market. However, each contract has duration of three years, with an option of being extended for two additional years.
KBR’s stock is currently performing better than its peers. Post third-quarter 2016 earnings release (Nov 1, 2016), shares of the Zacks Rank #3 (Hold) stock recorded a return of 19.29% – outperforming the 18.68% return provided by the Zacks categorized Engineering/R&D Services industry.
KBR Wins Twin Deals
BP International Limited has awarded one deal to KBR for offering conceptual engineering services. The other agreement has been signed with KBR for providing front-end engineering design (FEED) and pre-FEED services.
Per the two deals, KBR and its subsidiaries, such as GVA Consultants, Energo and Granherne, would be offering premium global engineering services to BP International Limited. These services would be provided in the offshore, onshore, subsea, greenfield, drilling and brownfield upstream domains in Angola, Alaska, Indonesia, Oman, Trinidad, Azerbaijan and the UK.
Moving Forward
Mad Dog Phase II, Glen Lyon FPSO, the Shah Deniz Phase II projects and Gulf of Mexico are some contracts recently secured by KBR from BP International Limited. The two above mentioned deals would strengthen the company’s 50-year bond with BP International Limited.
Our Take
Amid headwinds, such as volatility in oil & gas prices, softness in Engineering & Construction sector and sluggish project activities, KBR is poised to grow on the back of improved Government services and Technology & Consulting businesses, contract wins and meaningful acquisitions.
Over the last 30 days, the Zacks Consensus Estimate for the stock remained unchanged for both 2016 and 2017, reflecting neutral market sentiments toward the stock.
Better-ranked stocks in the industry include Willdan Group, Inc. (WLDN - Free Report) , MasTec, Inc. (MTZ - Free Report) and Comfort Systems USA, Inc. (FIX - Free Report) .
Willdan Group, Inc. has an average positive earnings surprise of 18.72% for the last four quarters. It currently boasts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
MasTec, Inc. currently carries a Zacks Rank #2 (Buy). The company’s average positive earnings surprise is 61.27% for the trailing four quarters.
Comfort Systems USA, Inc. currently has a Zacks Rank #2. The company’s average positive earnings surprise is 15.83% for the trailing four quarters.
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KBR Wins Twin Global Contracts from BP International Ltd.
Premium construction company, KBR, Inc.’s (KBR - Free Report) shares inched up 0.5% to $17.38 per share on Dec 20, after securing two global agreements from BP International Limited. The value of the contracts has not been disclosed in the market. However, each contract has duration of three years, with an option of being extended for two additional years.
KBR’s stock is currently performing better than its peers. Post third-quarter 2016 earnings release (Nov 1, 2016), shares of the Zacks Rank #3 (Hold) stock recorded a return of 19.29% – outperforming the 18.68% return provided by the Zacks categorized Engineering/R&D Services industry.
KBR Wins Twin Deals
BP International Limited has awarded one deal to KBR for offering conceptual engineering services. The other agreement has been signed with KBR for providing front-end engineering design (FEED) and pre-FEED services.
Per the two deals, KBR and its subsidiaries, such as GVA Consultants, Energo and Granherne, would be offering premium global engineering services to BP International Limited. These services would be provided in the offshore, onshore, subsea, greenfield, drilling and brownfield upstream domains in Angola, Alaska, Indonesia, Oman, Trinidad, Azerbaijan and the UK.
Moving Forward
Mad Dog Phase II, Glen Lyon FPSO, the Shah Deniz Phase II projects and Gulf of Mexico are some contracts recently secured by KBR from BP International Limited. The two above mentioned deals would strengthen the company’s 50-year bond with BP International Limited.
Our Take
Amid headwinds, such as volatility in oil & gas prices, softness in Engineering & Construction sector and sluggish project activities, KBR is poised to grow on the back of improved Government services and Technology & Consulting businesses, contract wins and meaningful acquisitions.
Over the last 30 days, the Zacks Consensus Estimate for the stock remained unchanged for both 2016 and 2017, reflecting neutral market sentiments toward the stock.
KBR INC Price and Consensus
KBR INC Price and Consensus | KBR INC Quote
Stocks to Consider
Better-ranked stocks in the industry include Willdan Group, Inc. (WLDN - Free Report) , MasTec, Inc. (MTZ - Free Report) and Comfort Systems USA, Inc. (FIX - Free Report) .
Willdan Group, Inc. has an average positive earnings surprise of 18.72% for the last four quarters. It currently boasts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
MasTec, Inc. currently carries a Zacks Rank #2 (Buy). The company’s average positive earnings surprise is 61.27% for the trailing four quarters.
Comfort Systems USA, Inc. currently has a Zacks Rank #2. The company’s average positive earnings surprise is 15.83% for the trailing four quarters.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>