Hunting (HTG)

Sector:

Fossil Fuels Production & Distribution

Index:

FTSE Small Cap

330.50p
   
  • Change Today:
    -3.50p
  • 52 Week High: 339.00
  • 52 Week Low: 197.40
  • Currency: UK Pounds
  • Shares Issued: 164.94m
  • Volume: 211,726
  • Market Cap: £545.13m
  • RiskGrade: 258

Hunting sees rise in H2 core earnings as oil price surges

By Frank Prenesti

Date: Thursday 30 Jun 2022

LONDON (ShareCast) - (Sharecast News) - International energy services group Hunting said first-half trading was in line with expectations as it forecast a return to annual bottom-line profitability.
The company on Thursday said it expected core earnings of $16m-$18m for the first half, with the second quarter likely to show an improvement over the first three months of the fiscal year. Oil producers have benefited from a rise in crude prices, driven by the war in Ukraine, which has threatened supplies.

Hunting also forecast a stronger revenue run-rate for the second half, with earnings before interest, tax, depreciation and amortisation likely to increase around 20% in the third and fourth quarters compared with the April-June period.

"Clients continue to steadily increase drill spend, supported by the strong commodity price environment, indicating a further improvement in trading momentum in H2 2022, despite the macro-economic and supply chain constraints seen for certain components," said chief executive Jim Johnson.

"Gross margins across most operating segments also continue to improve as activity levels increase."

While Hunting was seeing inflationary pressures on some raw material costs, the company implemented price increases within a number of product lines, along with pass through costs on an order-by-order basis.

"With energy security and consumer pricing for fuel now at the top of most political agendas, the outlook for the global oil and gas industry is now extremely positive, with many commentators forecasting a strong multi-year upcycle," Johnson said.

Reporting by Frank Prenesti at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Hunting Market Data

Currency UK Pounds
Share Price 330.50p
Change Today -3.50p
% Change -1.05 %
52 Week High 339.00
52 Week Low 197.40
Volume 211,726
Shares Issued 164.94m
Market Cap £545.13m
RiskGrade 258

Hunting Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
15.25% above the market average15.25% above the market average15.25% above the market average15.25% above the market average15.25% above the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Price Trend
66.51% above the market average66.51% above the market average66.51% above the market average66.51% above the market average66.51% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Income Not Available
Growth
73.48% above the market average73.48% above the market average73.48% above the market average73.48% above the market average73.48% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 5
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Hunting Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Apr-24 05-Oct-23
Paid 10-May-24 27-Oct-23
Amount 5.00¢ 5.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
16:58 170 @ 332.82p
16:35 133,626 @ 330.50p
16:35 1 @ 330.50p
16:35 391 @ 330.50p
16:35 367 @ 330.50p

Hunting Key Personnel

CEO Arthur James Johnson

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