Hunting Share Discussion Threads

[pyman] 08/9/2009 12:58

£6.9million in interest for the half year

[old giggleswickian] 07/9/2009 20:17

mikealig,
I am guessing that the cash is being held in Dollars seeing as any purchase they make is likely to be in Dollars in which case the cash reserve could have actually fallen in sterling terms over the last 6 months.
They may be able to get gas related assets cheap but with a 1 year's supply surplus it could take some time to start earning a significant return from any such asset.

Ian.

[pyman] 07/9/2009 12:49

money flow strong over teh last 2 weeks .Volume averages about half a million shares a day over the last 6 months. Last 2 weeks= double that.

[mikealig] 07/9/2009 12:33

robson1974,
thanks for posting that link. I found this bit surprising "and the fact that it is earning virtually nothing on its cash."
I would have thought that they could earn at least 5% on this which is equivalent to £20m p.a.

[pyman] 07/9/2009 09:38

kiss of death no doubt as HTG chart has not behaved. However nice pattern indicating breakout now in place: again! tenative prediction of a new trading range between £4-90 and £5-50(should be £6 but I doubt it will get there)

[robson1974] 06/9/2009 15:41

Andy Brough in the Mail on Sunday Midas

[gswredland] 27/8/2009 13:05

thansk for that investkinggarden

[investinggarden] 27/8/2009 12:24

Hunting eyes more takeovers

[gswredland] 27/8/2009 10:36

Looks good and share price soaring as i type.Beginning to show a breakout to.

[pyman] 27/8/2009 08:17

good results, nice dividend and still £414m cash on the balance sheet. Looks like HTG are riding the storm rather well.

[ohisay] 17/8/2009 17:01

You're welcome fly.
Think we might retrace to 400p this month!

[flyfisher] 17/8/2009 13:53

ohisay, thanks for your link.

[ohisay] 17/8/2009 11:56

Included in HW sector note .



At the current share price, the market is valuing the existing businesses at around £200 million which represents a P/E of 8.6x 2009 forecast earnings. We have confidence in the management's ability to make appropriate acquisitions but recommend a HOLD until the prospects of the new company become more visible.

[mikealig] 27/7/2009 06:58

flyfisher, thanks for this valuable information. Do you have a link to this data?

[flyfisher] 26/7/2009 08:56

The number of oil and gas rigs climbed to 943, up 23 from the previous week, according to rig data from oil-field services company Baker Hughes Inc. The number of gas rigs was 675, an increase of 10 rigs from last week, while the oil rig count rose to 257, an increase of 13 rigs. The number of miscellaneous rigs was unchanged at 11.

The number of gas rigs in use peaked at 1,606 in September.

hunting has significant business in gas drilling services, good news and perhaps a change in direction for one of it's key markets.

[galles] 25/7/2009 13:12

What a steep rise in the past couple of weeks!

[mikealig] 10/7/2009 10:34

those figures don't look too shabby for a business valued at about £130m.

[flyfisher] 10/7/2009 09:56

for those who are wondering why the share price has fallen, several brokers have downgraded their current year forecast in light of the recent trading update.

2009 2010
Pre-tax (£) EPS(£p) DPS(£p) Pre-tax(£) EPS(£p) DPS(£p)
Consensus Consensus 36.75 16.62 10.00 39.82 17.72 10.73
1 Month Change -10.03 -4.41 -0.13 -6.82 -3.22 -0.04

[jerrylu] 08/7/2009 16:17

Unbelievable! this share is being traded under net asset value per share!Solid company with £3 cash per share in hand,i cannot find anything else so far?In current economic climate, what else is more important than holding rich cash in hand? Cash is king, with solid trading history for 100 yrs and strong balance sheet, this share will undoubtedly remain being focused

[stevieweebie2] 08/7/2009 08:43

Thanks everyone, esp OG for a very informed post.
I think that its important that investors post when the price either plummets or soars to give some good old fashioned comfort, or not as the case may me.
Stevie

[dextroisomerism] 08/7/2009 08:29

By my calculations, their cash reserves of £380m equates to 288p per share. If the price drops much more, the business will be valued at zero.

[marvelman] 07/7/2009 19:50

Nice post OG and straight down the line. I am in here because I currently only invest in cash positive no debt companies in niche markets...and this ticks 3 out of 3 boxes.

[old giggleswickian] 07/7/2009 17:46

stevie,
I have been receiving reports from this company for 8 or 9 years, as has mikealig I believe, and during that time the company has been well run and grown consistently. The company grew strongly and eventually made a very timely sale of the half of the company which required the most capital, had the least growth potential and was the most suseptible to short term economic downturn, namely the Canadian transport section Gibson Energy.
Hunting is to all intents and purposes a Canadian company listed in London with interests growing in Asia that does all its business in the US$ which has been falling against the £ for the last few months. Ten years ago hunting was a predominantly British co until it sold its aerospace arm and bought into Gibson before finally taking it over. For Hunting to continue its expansion in the Athabasca region requires the major oil companies to continue large investments suported by a long term oil price of $60pb or more. Current weakness in the share price could be down to a combination of a falling $, the "offshore" nature of the company and the effects of the credit crunch on the major oil companies. That said I think that as a hight tech company with very large reserves in relation to its valuation I see the current price as a very good opportunity. The share price has relatively recently been below £3.50 so that can't be ruled out again in the short term and I would see that as a bargain.

Ian.