Worth >350p IMO - and we're down a little on the day :-) |
We have had 2 company record orders in the last year; CNOOC $86m order received in Aug 22, which was a record then (most of it will be recognised in 2023) and then they announced an even bigger order (India $91m) in May 23.
Should be good. |
Results a week today - so hopefully that |
This has moved up in the last few days. Any one know why? |
More opportunity really... I need more time to accumulate before the mark up. |
Back to low volume drift. such a crying shame that the UK market is so poor that companies always end up sold off because our mkt attracts far too little investment. Considering this companies revenues are international it beggers belief that we are again back to low volume sales and little support |
I think they may announceme US ADRS again. I seem to remember this was planned previously and then shelved. |
It really is ridiculous. Given the geographical split of revenues I wouldn't be surprised if they listed in the states |
More of it today. The stupidity is astounding |
Trading suggest a sell order being worked yesterday and today to me. Typical of the short sighted UK mkt |
Strong, long recovery under wayMuch longer to go |
Add this from the trading update
"North America segment reports a performance materially ahead of expectations, primarily due to international orders for South America, which are driving the performance of the US Manufacturing business."
To todays news and..... |
Going from strength to strength |
Significantly higher. However I believe this country is much weaker due to the constant sales of our companies due to consistent undervaluation. ARM holdings being a stand out example of this. |
Interesting perspective Dope
But what is it's true value? |
I would prefer the stock was not took over and instead the stock price reflected the true value of the company |
Who knows but would be happy with that rolo |
A bid would nice 550p.? |
interesting role
Would not surprise me to see these bid for |
Back to fste250 in September nearly |
 A good write up this morning by Questor on Hunting Group
Taking a shot on this specialist supplier could reap rewards amid robust global demand for oil
Questor share tip: With an order book up 15pc since the end of the year Hunting's shares seem under-priced at the moment
By
Russ Mould
11 July 2023 • 6:00am
It is reassuring to see oil services and equipment specialist Hunting come up with a one-fifth gain in its shares after last week’s trading update.
A second profit forecast upgrade in quick succession, following that of late May, suggests the oil equipment and services market is not as torpid as many believe. The shares largely ignored May’s statement, amid an ongoing slide in oil prices and global rig activity, but they have paid attention this time.
According to Jim Johnson, the chief executive, the order book is up 15pc since the end of the year to around $540m (£421m), thanks to increased activity in Latin America, the Middle East and Asia.
Whether we like it or not, the globe still consumes roughly 100m barrels of oil a day and US shale has provided about nine tenths of global production growth over the past decade.
The Biden administration does not seem keen on encouraging more fracking (even if it also wants to have its cake and eat it by calling for Saudi Arabia to pump more crude to put a lid on oil prices) so activity elsewhere, or at least offshore, may have to take up the slack while the globe manages its transition toward more renewable and less carbon-intensive sources of energy.
The 40pc share price swoon since February meant Hunting was among the worst-performing 10pc of the FTSE All-Share ahead of the trading update.
Painful as that slide was, we still had a book profit as our entry point had been so low. That hopefully helps to justify our value-driven approach and even after last Thursday’s romp the shares look cheap.
Hunting share price
Line chart with 266 data points.
View as data table, Hunting share price
The chart has 1 X axis displaying Time. Data ranges from 2022-06-20 00:00:00 to 2023-07-10 00:00:00.
The chart has 1 Y axis displaying p. Data ranges from 187.6 to 351.5.
End of interactive chart.
The £386m market cap represents a hefty discount to the stated book, or net asset, value of £665m (or £545m if goodwill is excluded), while the absence of any substantial debt should also help to protect the downside.
It also means there is no time pressure on the company to reel in the orders that should continue to underpin analysts’ expectations of a return to profit in 2023 and further advances in 2024 and 2025.
A forward price-earnings ratio of 17 times may not look compelling but this is a company where earnings per share (EPS) exceeded 40p in 2012, 2013 and 2018.
If they ever get there again then the shares are just screamingly cheap, and they still look interesting at even half that level.
Questor says: buy
Ticker: HTG
Share price at close: 250p
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Yeah. This one is super cheap. Been accumulating for some time and had not expected it to drop as low as it did, but perhaps now the re-rating has started? The trading statement pop was a string start |
Basically asset value and very low PE if they return back to normal earnings |
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