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Jacobs (JEC) Clinches Decomplexing Project from ONEgas
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Premium technical services company, Jacobs Engineering Group Inc. recently secured a contract from ONEgas for offering its premium engineering services. The deal is likely to strengthen Jacobs’ relationship with ONEgas and boost its organic growth trajectory as well.
Over the last one year, shares of this Zacks Rank #3 (Hold) stock yielded a return of 29.00%, outperforming 21.36% growth recorded by the Zacks categorized Engineering/R&D Services industry.
Inside the Headlines
ONEgas is a joint business unit of Royal Dutch Shell plc’s (RDS.A) UK Exploration & Production business, and the Nederlandse Aardolie Maatschappij B.V. (NAM).
The deal has been signed under the new Enterprise Framework Agreement between Jacobs and ONEgas. Financial terms of the deal remain undisclosed.
Per the new contract, Jacobs would be providing engineering services for the decomplexing of ONEgas’ K15-FA platform in the North Sea. The process involves transforming K15-FA to an unmanned platform exclusive of gas treatment installations, as the gas would be subsequently treated on K14, which is centrally located.
Jacobs noted that it would be utilizing its experience from the L13-FC project to accomplish the K15-FA platform decomplexing project successfully.
This project is anticipated to help ONEgas slash its operational costs, reduce power consumption and enhance safety management.
Why a Zacks Rank #3?
The rising demand for industrial and manufacturing services in countries such as the U.S. and China is projected to drive sales for Jacobs’ construction services in the quarters ahead. The company is also poised to grow on the back of sound restructuring moves and growth initiatives. However, the strengthening U.S. dollar, dismal pricing conditions in the energy market and stiff industry rivalry remain key concerns for the company.
TopBuild Corp. has an average positive earnings surprise of 27.38% for the past four quarters.
Louisiana-Pacific Corporation generated a remarkable average positive earnings surprise of 66.28% in the trailing four quarters.
Owens Corning’s average earnings surprise for the last four quarters is 35.13%.
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Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>
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Jacobs (JEC) Clinches Decomplexing Project from ONEgas
Premium technical services company, Jacobs Engineering Group Inc. recently secured a contract from ONEgas for offering its premium engineering services. The deal is likely to strengthen Jacobs’ relationship with ONEgas and boost its organic growth trajectory as well.
Over the last one year, shares of this Zacks Rank #3 (Hold) stock yielded a return of 29.00%, outperforming 21.36% growth recorded by the Zacks categorized Engineering/R&D Services industry.
Inside the Headlines
ONEgas is a joint business unit of Royal Dutch Shell plc’s (RDS.A) UK Exploration & Production business, and the Nederlandse Aardolie Maatschappij B.V. (NAM).
The deal has been signed under the new Enterprise Framework Agreement between Jacobs and ONEgas. Financial terms of the deal remain undisclosed.
Per the new contract, Jacobs would be providing engineering services for the decomplexing of ONEgas’ K15-FA platform in the North Sea. The process involves transforming K15-FA to an unmanned platform exclusive of gas treatment installations, as the gas would be subsequently treated on K14, which is centrally located.
Jacobs noted that it would be utilizing its experience from the L13-FC project to accomplish the K15-FA platform decomplexing project successfully.
This project is anticipated to help ONEgas slash its operational costs, reduce power consumption and enhance safety management.
Why a Zacks Rank #3?
The rising demand for industrial and manufacturing services in countries such as the U.S. and China is projected to drive sales for Jacobs’ construction services in the quarters ahead. The company is also poised to grow on the back of sound restructuring moves and growth initiatives. However, the strengthening U.S. dollar, dismal pricing conditions in the energy market and stiff industry rivalry remain key concerns for the company.
Stocks to Consider
Some better-ranked stocks in the industry include TopBuild Corp. (BLD - Free Report) , Louisiana-Pacific Corporation (LPX - Free Report) and Owens Corning (OC - Free Report) . All the three stocks currently flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
TopBuild Corp. has an average positive earnings surprise of 27.38% for the past four quarters.
Louisiana-Pacific Corporation generated a remarkable average positive earnings surprise of 66.28% in the trailing four quarters.
Owens Corning’s average earnings surprise for the last four quarters is 35.13%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>