Still dropping even directors buy can't keep it up. Tariffs going to punish a lot of good companies but for the better in the long run. IMOLooking to buy here but no catching the knife. Rather wait till the trend is in place and short seller had their fun |
 Berenberg view:-
Key stats Market capitalisation £494.1m Shares in issue 166.9m Historic P/E 5 Dividend yield 2.9%
Hunting can deliver more growth in 2025, says Berenberg Oil and gas sector supplier Hunting (HTG) can deliver further revenue growth and ‘solid’ cash generation, says Berenberg.
Analyst Richard Dawson retained his ‘buy’ recommendation and increased the target price from 480p to 490p, well above the 295p share price on Friday morning.
The results were broadly in line with Hunting’s January trading statement, with revenues up 13% year-on-year, thanks to contract awards and increased subsea activity. Earnings came in at the top end of the guided range.
Dawson said the US-focused Titan segment, which supplies logging equipment, was weaker, ‘but a combination of higher US gas prices and new liquid natural gas capacity could improve 2025 delivery’.
‘Dividends grew by 15% year-on-year as strong working capital management underpinned very high cash generation,’ he explained.
‘We remain “buy”-rated on Hunting as we expect further revenue growth, improved margin delivery and solid cash generation.’ |
A bit better today thankfully |
Way undervalued but its symptomatic of the uk market in general. I wouldn’t be surprised if an American company picked this up for £5+ per share. |
New acquisition sounds excitingWell done team HTG. |
Order book might be down C10% but they have confirmed EBITDA guidance range for 2025 + 7-15% on 2024. Thus they must be confident of what is in the pipe |
order book down to $508m from $566m for FY23. They have taken goodwill woff of 109m re Titan…….herein lies the problem. Should they have disclosed this earllier? |
Yes. Crazy market reaction but it's happening all over the place. Added too |
Added too. |
Other half added back now. Crazy reaction to results |
Berenberg raises Hunting price target to 490 (480) pence - 'buy' |
And oil price dumping |
Just bought back half of what I sold, and looking to add the other half if it falls further |
Very good numbers, pity the market is slumbering. |
The share price started to decline when they said their North American business had weakened but Trump's 'drill baby drill' mantra has changed sentiment and the company has confirmed it has not worsened. Also, look at the U-turn BP are doing, back to drilling and putting green ambitions aside for a while, they reckon they'll double market cap with 5 years and regain some of their former glory. Others must be thinking the same, it can only be a matter of time before the share price here changes direction imo. |
Tks W.
Not sure why A picked this one, guessing recovery play?
MW 0.49%, I tend to join rather than bet against.
6 March, we will see.
SP tipped it prior to the drop Oct, whoops. |
 Hunting PLC Positioned for Growth with Strong FY24 Results – Equity Development Hunting plc
Anthony Fox DIRECTORSTALKINTERVIEWS.COM
January 14, 2025
8:43 am
Hunting PLC (LON:HTG), a global engineering group with a rich portfolio of precision-manufactured products, continues to showcase resilience and growth, despite facing variable market conditions in 2024. As the company’s financial year wraps up, it remains on track to meet its upgraded EBITDA guidance of $123–126 million, marking an impressive 22% year-on-year growth.
The company’s OCTG (Oil Country Tubular Goods) and Subsea product groups have been standout performers, driven by elevated order intakes. On the other hand, Hunting Titan/Perforating Systems faced challenges in the North American onshore markets.
Reflecting on the mixed landscape, Research Analyst Toby Thorrington commented:
“Hunting’;s OCTG and Subsea activities will show the largest absolute contributions to FY24 profitability and the most significant year-on-year uplifts, both being driven by elevated order intake. Advanced Manufacturing should also show good progress, albeit smaller in quantum.”
Financial Strength and Future Prospects
Hunting’s strong net cash position of $100–105 million at year-end, bolstered by successful shipment deliveries and cash collection schedules, places the company in a prime position to capitalise on merger and acquisition opportunities. Combined with $300 million in updated banking facilities, the company is well-equipped to advance its 2030 strategy, launched in September 2023.
Looking ahead to FY25, Equity Development anticipates EBITDA for wholly owned businesses to be in the range of $135–145 million, while the inclusion of joint ventures could push this figure higher.
Key areas of interest include a flagged restructuring in the EMEA region, ongoing improvements in commodity prices, and robust group order book developments, which stood at $500 million by the close of FY24.
Hunting Plc Share Price Outlook
The past year saw Hunting’s share price end slightly lower, though it remains undervalued according to Equity Development’s assessment. The broker retains a fair value estimate of 397p per share.
Commenting on the valuation, Thorrington noted:
“We believe that Hunting’s current share price is discounting levels of profitability significantly lower than the group is currently achieving.”
Final Thoughts
Hunting PLC’s commitment to innovation, operational excellence, and strategic growth remains steadfast. While challenges persist in specific markets, the company’s financial health and strong order pipeline provide confidence in its ability to achieve long-term growth. With FY24 results expected on 6 March 2025, stakeholders can anticipate further insights into the company’s performance and prospects. |
HERES TO A POSITIVE REPORT ON 6th march
Hunting plc LON: HTG
> Hunting plc
319.50 GBX +2.00 (0.63%)
Feb 24, 09:25 GMT
306.00 GBX 08:15
Open 303.00
High 320.50
Low 303.00
Mkt cap 524.51M
P/E ratio 5.30
Div yield 2.59%
52-wk high 465.37
52-wk low 278.00 |
Looks like it is heading for 300 again! |
Henry Hub Natural Gas price approaching 4: |
 From Equity Development FWIW:
Good FY24 progress, despite variable end markets
Hunting has reaffirmed that FY24 EBITDA will be in line with October’s revised US$123m-126m guidance, the midpoint of which represents c.22% y-o-y progress. As previously noted, the OCTG and Subsea product groups have delivered strong performances while Hunting Titan/Perforating Systems (PS) has had to contend with depressed North American onshore activity levels.
Management has again raised year end net cash guidance (and for the third time during FY24) to US$100m-105m driven by successful shipment delivery and cash collection schedules we believe. Together with US$300m recently updated bank finance facilities, this places Hunting in a strong position to progress its 2030 strategy.
Compared to our last update, we note that the group net cash position and stronger US dollar (now £/US$1.21 versus 1.31 previously) are both more favourable inputs. For now, we believe that Hunting’s current share price is discounting levels of profitability significantly lower than the group is currently achieving.
We retain our fair value / share at 397p. |
This certainly should be back over 400 in the coming weeks. The sell off from the 450 levels some months ago always seemed exaggerated, but is and remains a good buying opportunity |
Marshall Wace LLP increased short position to 0.51% on 10.01.25.
Reduced back down to 0.47% on 14.01.25 (day of update). |