Hunting Investors - HTG

Hunting Investors - HTG

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Hunting Plc HTG London Ordinary Share GB0004478896 ORD 25P
  Price Change Price Change % Stock Price Last Trade
-7.00 -3.15% 215.40 16:35:22
Open Price Low Price High Price Close Price Previous Close
222.40 210.80 222.60 215.40 222.40
more quote information »
Industry Sector

Top Investor Posts

contrarian joe: The rapid and unexpected drop in oil prices has left all actors in the sector scratching their heads as to when and at what level prices will stabilise. As both equity analysts’ and companies’ forecasts and business plans have been left quickly out-dated investors may be in for negative surprises, oil-field services firm Hunting said in an operational update released on Monday morning. The group said: “The company does not believe that [analysts’] estimates should be relied upon as an accurate indicator of 2015 financial performance.” “Equally […] given the changes in its markets, Hunting does not believe that it is appropriate at this stage to provide financial guidance for 2015.” The company went on to warn that the full impact of the oil price decline will not be felt until the second quarter of the year, but lower levels of activity are expected as global rig counts decline. Hence, it has begun to reduce costs across all of its operating units, including head-count reductions at the most affected divisions. The Well Completion and Well Construction businesses are expected to be the hardest hit, management explained. Nonetheless, Hunting concluded by saying that: “While the short term outlook for the industry remains unclear and challenged, we are also mindful of the longer term strategic growth opportunities for Hunting.” The company’s preliminary 2014 results will be released on 5 March 2015. As of 10:36 shares of Hunting were lower by 7.31% to 458.3p.
apad: As posted on KENZ board: FT on AMEC: Samir Brikho has switched on the fog lights. On Tuesday, the chief executive of Amec, the UK oil services group, not only reported a 13 per cent jump in annual earnings per share; he also peered into the gloom to forecast that it would hit 100p by 2015, two-fifths higher than 2011's level. In addition, he announced a £400m share buy-back and a 15 per cent dividend increase – sharing the spoils of Amec's growing order book and a backlog of £3.7bn. That is rare optimism and Mr Brikho probably expected investors to be impressed. Instead, Amec's share price over the day barely moved. But that was not too surprising. Amec's shares already trade at about 14 times 2012 earnings, close to the FTSE 350 oil equipment services index's multiple. Although the company boosted EPS 13 per cent last year, it will need to maintain this clip to hit its 2015 target. The company believes it can do this organically. But it has also flagged that acquisitions are on the horizon. Debt-free Amec certainly has the capacity to buy some rivals. The £400m buy-back will soak up four-fifths of its current cash balance. But it is a strong cash generator. Assuming that it keeps its net debt below twice its earnings before interest, tax, and amortisation (£300m last year), and any purchase yields ebita of 23 per cent of its equity value – in line with Amec's – a £900m-odd acquisition is possible. So rumours it may try to buy UK rival Petrofac are likely to be false. Petrofac's market capitalisation is £5.3bn. That means any attempt would require a chunky equity call from Amec's shareholders – something Tuesday's share buy-back appears to negate. Smaller rivals Hunting or Cape are possible targets, but could be more asset heavy than Amec would like. But with its shares trading at fair value, further upside looks dependent upon acquisitions. apad reply: If you want to go hunting for AMEC takeover targets, go looking amongst the specialist engineers that bring a significant technical advantage to AMEC, rather than its general competitors. AMEC has significant technical expertise in nuclear technology (e.g. safety codes) - it will be looking for adding technical value in preparation for the start of the Nuclear New Build program. The Hunting speculation in the FT article was spot on, in terms of technical fit, if it is for sale. The interesting question is: "what's the short list?". apad
galles: Hunting PLC (LSE:HTG), the international energy services company today announces the disposal of its Hunting Energy France operations ("HEF") to FINERGY, a new company established by a group of French investors, including two directors of HEF, to acquire the business. The total consideration is GBP11.0m, of which GBP8.8m will be paid on completion with the balance of GBP2.2m to be deferred and paid in the form of bonds earning interest at an annual rate of 8%. The bonds are redeemable on 31 December 2017 however may be repaid earlier at the discretion of FINERGY.
stevieweebie2: 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
contrarian trader: Interesting tip from Lucian Myers Evil Knevils apprentice (pretty good track record aswell) and price is lower now than when he tipped them.... The Bard of the Boleyn Is Hunting for a Bargain Hunting PLC at 382p has a market cap of £500 million. The company has two divisions: firstly Gibson Energy, Canada's largest mid stream oil company (mid stream links upstream which is production and downstream which is refining i.e. it is involved in transportation, storage, pipelines etc.) Secondly it has Hunting Energy Services which provides services to major upstream oil companies (well construction: that sort of thing) The investment case for Hunting is straight forward. In August it announced the sale of Gibson to Riverstone holdings, a large private equity group for £600 million. This would leave it with £400 million net cash (300p per share) and Hunting Energy Services which is forecast to make 43p of earnings in 2009. Put another way Riverstone is paying Hunting aproximately 450p per share for Gibson and it will still be left with a debt free profitable business. So what's the catch I hear you ask? The catch is that Riverstone may walk away from the deal which was struck with oil at $140 per barrel against today's $52pb. Against this however is the fact that it has paid Hunting £50 million upfront which will not be refunded if the deal fails . Furthermore the company announced on 3rd November "Hunting and Riverstone are working together towards completion of the disposal of Gibson Energy in early December 2008" In my opinion three things can happen in early December. One the company announces the completion of the disposal . Two it announces a date for completion of the disposal. Three it announces the deal is off. If one the shareprice rockets: two it goes up a fair bit, three it falls but given that the price is already discounting the deal fails, the fall should be short lived and investors are left with a bombed out Oil services play. Given that there is a good chance the deal goes through, the present price gives punters a chance to invest in a first class debt free oil services group for next to nothing. Bear raiding prodigy Lucian Miers is the Bard of the Boleyn Posted by Lucian Miers on Tue Nov 25, 04:52 PM in Comment
robson1974: they sold the relatively low quality bit which required higher capex with lower potential returns so they could increase investment into the higher quality bit with higher potential returns it is brilliant but this stock despite being a £1000m company is covered by about zero analysts in UK and oil services is not a big UK sector so the level of coverage is dire. that is why private equity companies and likes of GE can come and buy companies like Sondex and Expro on 30x PE and surprise everyone by paying big premia because investors in the UK do not 'get it' Hunting is now a sitting duck, it is left with its high margin high growth high quality Expro/sondex type oil services business but on a multiple of about 9x EV/EBITDa (ex-ing out cash) compared with typical exit multiples in the industry of 12-13x
robson1974: Hunting sells Gibson arm to Riverstone By Martin Arnold and Toby Shelley Published: August 7 2008 03:00 | Last updated: August 7 2008 03:00 Lord Browne, the former chief executive of BP, returned to the London stock market yesterday as Riverstone, the US private equity group he joined last year, acquired Hunting's Canadian oil and gas distribution business for £626m. The buy-out of Gibson Energy, which sent shares in London-listed Hunting up almost 12 per cent, is one of the biggest deals by the energy-focused Riverstone since it hired Lord Browne to run its European activities last year. While Lord Browne was not involved directly in the deal, his influence is being felt at the group founded in 2000 by two former Goldman Sachs bankers. He is helping attract potential investors to raise up to $16bn (£8.2bn) for two new funds focusing on renewable and conventional energy, both of which Riverstone is raising in partnership with the Carlyle Group. Lord Browne was forced to resign from BP in May, ahead of his planned retirement when it emerged that he had lied to a judge when seeking to prevent the publication of allegations about his private life. Riverstone's purchase of Gibson represents a multiple of 13 times the Calgary-based business's operating profit last year. Analysts said Hunting had done well to make a £305m profit on the disposal. Analysts have long called for a rationalisation of Hunting's structure since Dennis Proctor, the chief executive, transformed the former defence and aviation group into an oil industry company. In spite of strong results, the company has been undervalued relative to oilfield services rivals such as Wood Group and Petrofac. With the oilfield services sector in the throes of consolidation, Hunting might have to move fast to avoid becoming a target. In recent months, Expro International and Abbott Group have been bought by private equity. Hunting has received several informal approaches.
hectorp: Last chance to buy under 900p.. any takers? - well, there is ! an instie is feeding buys in steadily- I assume private investors have gone on vacation, its summer, no-one likes oil service companies? wrong! I do.
beercapafn: Old Giggleswickian What an exoplanet post. Shows good investor knowledge. I had picked up most of it over the past 6 months or so but you put the Famliey, Tax (18%)and the volity in perspective. I am much happyier with my £1.20 a share loss. NOT being sarcastic. But would comment if the family do decide to sell for tax, what would that do to the share price. They could sell at a 10 % discount and still break even. Jim
robson1974: AMEC took analysts on two day trip to Canadian Oil Sands ... v bullish and probably explains HTG rise today Hunting is the biggest and most geared oil services play on Canada Oil Sands growth
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