Hunting (HTG)

Sector:

Fossil Fuels Production & Distribution

Index:

FTSE Small Cap

393.50p
   
  • Change Today:
    -9.00p
  • 52 Week High: 446.00
  • 52 Week Low: 197.40
  • Currency: UK Pounds
  • Shares Issued: 164.94m
  • Volume: 192,495
  • Market Cap: £649.04m
  • RiskGrade: 258

Hunting warns on US shale slowdown

By Sean Farrell

Date: Tuesday 17 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Hunting warned on Tuesday that expectations for annual profit were under threat from a sharpening slowdown in the US onshore oil and gas market as the company approaches its year end.
The energy services group said it still expected earnings in the year to the end of December to be within the range of market expectations but that this result depends on trading in December. Capital spending by customers is likely to fall in 2020, the company added.

In the US, drained customer budgets and seasonal declines are hurting the company's fourth-quarter results and some clients have closed facilities serving the US shale sector. The slowdown has affected sales at Hunting's specialty, drilling tools and Its Titan perforated systems businesses.

"Hunting Titan's revenue and operating profits during October and November were below the average monthly run-rate of Q3 2019 due to the slowing US onshore market," Hunting said in a trading update. "New products and technologies continue to be developed and commercialised. However, the market remains highly competitive and continues to decline in line with activity levels and rig counts."

The FTSE 250 company warned that announcements from its publicly-traded customers indicated that capital spending in 2020 would decline as the oil and gas industry tries to improve returns and cash generation. Hunting shares fell 5.9% to 385p at 0805 GMT.

The once-booming US shale industry is slowing rapidly as production disappoints at wells and sites run out earlier than expected. These trends suggest the benefits of engineering advances that allowed shale companies to unearth record volumes of oil and gas from rock are flattening out.

Hunting's capital spending in 2019 will be about $40m and the company's net cash position will be $65m at the end of the year.







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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 393.50p
Change Today -9.00p
% Change -2.24 %
52 Week High 446.00
52 Week Low 197.40
Volume 192,495
Shares Issued 164.94m
Market Cap £649.04m
RiskGrade 258

Hunting Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
39.08% below the market average39.08% below the market average39.08% below the market average39.08% below the market average39.08% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
92.45% above the market average92.45% above the market average92.45% above the market average92.45% above the market average92.45% above the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Income
73.77% below the market average73.77% below the market average73.77% below the market average73.77% below the market average73.77% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
75.14% above the market average75.14% above the market average75.14% above the market average75.14% above the market average75.14% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% 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 14-Jun-2024

Time Volume / Share Price
16:35 53,034 @ 393.50p
16:35 180 @ 393.50p
16:35 1,695 @ 393.50p
16:35 217 @ 393.50p
16:35 868 @ 393.50p

Hunting Key Personnel

CEO Arthur James Johnson

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