Hunting (HTG)

Sector:

Fossil Fuels Production & Distribution

Index:

FTSE Small Cap

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

Canaccord Genuity nudges up target price on Hunting

By Iain Gilbert

Date: Friday 16 Dec 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity raised their target price on energy services company Hunting from 350.0p to 375.0p on Friday following "another strong update" from the group.
Hunting affirmed its existing guidance of above $50.0m in underlying earnings and also raised guidance for 2023 EBITDA to $85.0m-90.0m, up from $80.0m, reflecting a number of factors - including a "significant" additional project award, and hence greater backlog, increasing confidence in pricing, and indications from capital markets that additional funding will be available for oil and gas companies.

In fact, Canaccord said the only challenge in the numbers was the comments on cash, where the group has continued to see substantial working capital needs on projects, including on the major award, meaning that year-end net debt ended up "considerably higher" than it had assumed.

"We are increasing our EBITDA for 2023E to $90.0m (was $80.m) and making considerably more bullish forecasts for 2024E and beyond," said the Canadian bank, which also reiterated its 'buy' rating on the stock.

"We believe we are still being relatively conservative on Hunting's earnings: as recently as 2018-19, the group earned EBITDA of circa $140.0m, and despite inflation, expansion into additional areas and acquisition, we still have the group below this in 2024E. We continue to see further scope for upgrades as investments at Hunting start to pay off."







Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:


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 339.00p
52 Week Low 197.40p
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
15.21% above the market average15.21% above the market average15.21% above the market average15.21% above the market average15.21% above the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average
Price Trend
75.09% above the market average75.09% above the market average75.09% above the market average75.09% above the market average75.09% 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
73.64% above the market average73.64% above the market average73.64% above the market average73.64% above the market average73.64% 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

Top of Page