Share Name Share Symbol Market Type Share ISIN Share Description
Hunting Plc LSE:HTG London Ordinary Share GB0004478896 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  3.50 1.28% 276.00 37,224 13:08:15
Bid Price Offer Price High Price Low Price Open Price
275.00 276.50 282.50 272.50 282.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 385.71 -63.22 -39.34 455
Last Trade Time Trade Type Trade Size Trade Price Currency
13:07:02 AT 206 276.00 GBX

Hunting (HTG) Latest News

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Hunting (HTG) Discussions and Chat

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Hunting Daily Update: Hunting Plc is listed in the Oil Equipment Services & Distribution sector of the London Stock Exchange with ticker HTG. The last closing price for Hunting was 272.50p.
Hunting Plc has a 4 week average price of 258p and a 12 week average price of 258p.
The 1 year high share price is 356.50p while the 1 year low share price is currently 142.80p.
There are currently 164,940,082 shares in issue and the average daily traded volume is 197,305 shares. The market capitalisation of Hunting Plc is £455,234,626.32.
flyfisher: A decent first quarter given the covid impact of the first two months and the trend looks to be positive for the near future. HTG looks to be in position to benefit from any russian oil embargo. I guess the positive newsflow will continue for some time yet.
asagi: management here are very bullish aren't they? There has been a period of severe underinvestment in their space which is now being reversed. Q4 was especially busy and a similar Q1 has been enjoyed but those orders won't become invoices until Q2/Q3. Manufacturing output was undermined by lots of staff getting COVID. These guys are going from strength to strength and with around 80% of business going to land-based exploration in North America it is a brilliant play on the world's desire to move away from Russian oil. Note how the share price did NOT fall back on the other side of the recent spike in crude prices. They clearly want to get back to $1bn a year of revenues but that might not progress in a straight line as the lower margin North Sea etc. business is exited. Asagi (long HTG)
jw330: the upcoming year will be test of Biden's green agenda vs the need to reduce domestic oil prices in USA. He might win the green voters currently but if inflation persists due to high oil prices there are going to be a much larger population that will never vote for him again. If he reverses restrictions on drilling on federal land to try and bring down the oil price then hunting plc will be taking full advantage and be multiples of the current share price.
jw330: Yeah nothing horrendous in that report and tbh thinking about it logically oil at 100 plus dollars is the time this company will make money so I'm happy to hold ignore the trashing of the share price
stupmy: I've closed the last of my positions around 220.5. Took a while to come good, but it's been a good trade. Reason for closing is very speculative. Beautiful move up from a rounded bottome formation. I'm just wondering (hoping) whether we'll get a pull back from the 222 area as the price back tests the break down from the rising TL support (Oct 2nd 2021, Aug 20 2021, Sept 20 2021) that occurred on Oct 13 2021. You could argue that the back test already happened on Oct 20th 2021, but I've taken my profit and would be very happy to buy some back if the price backed off now. Areas I'd watch for would be 203, 169 and 144/145. The way the share price has risen though, it's not that easy to believe I'll get my re-entries. GLA
pireric: Thanks for posting, philanderer. Strength in both the oil and gas markets is probably helping sentiment alongside broad sector repositioning. Looking at the US players, 2022 has got off to a strong share price start for most of them on optimism that production needs to come back and oil prices are headed higher. Stating the obvious, US Feb 22 Natural Gas Futures are at >$4.1 at the moment which remains very elevated in the context of history. Likewise, crude oil has been showing remarkable strength after the Omicron induced dip, and WTI on Feb 22 contracts is back above $81. That is higher than any levels seen during 2018. The missing piece of the puzzle for the oil services companies is seeing that translate into capex and also for Hunting, US production growth. I'm a believer in current pricing stimulating production output and and a loosening of the capex belt, and the need for energy complex stability and production (Biden is basically asking for it). So the less obvious was data released this evening from the EIA. They are forecasting that US oil production increases quarter on quarter right through to the end of 2023 and for US crude production to exceed 2019 levels in 2023. In 2021 the lower 48 states saw production falls and the gulf of mexico saw production increases, but the net effect of both was -0.12mmbls. Into 2022, they expect a flip to +0.64mmbls. I think all of this is supportive of the demand setup that HTG has in 2022 and I think there's real potential for existing broker estimates (on revenues and profits) to be significantly beaten if the current supportive outlook holds. They've already seen that start to come through in the backlog (in the last trading update). As the Telegraph Questor article points out and as we have discussed here already, when you're at a fraction of tangible NAV, I think only the second derivative has to change for the stock to work extremely well and to really start to close the gap to TNAV. That has maybe already started. Perhaps the stock will need a little bit of time in the very short term to chop around a bit and hopefully form 200p as a new base. Eric
philanderer: Questor: it sells to oil firms and is losing money – but Hunting could prove a worthy find Questor share tips: a discount to the value of its assets and a 3.5pc yield will appeal to brave contrarians Questor says: buy Ticker: HTG Share price at close: 191.8p
jw330: encouraging rns for the end of the year. 2022 could be a good year for hunting. Just waiting for a technical breakout here for a true rally in the share price.
pireric: SteMiS Oil capex is going to be a better correlator I suspect as there's usually a lag on that against oil prices (6-12 months). A lot of oil producers in the US were also hedged in 2021 that meant their recovered oil price (and thus budgeted spend) was far lower than the headline oil price averages (maybe $10-15 lower than headline). The much easier way to see it is just to look at revenues versus fixed costs (compared to prior years) rather than just pure profit levels against what you'd expect for the point in the cycle. I expect 2022 to be a good year for product pricing, with initial rounds already kicked in by HTG and I suspect a lot of room in 2022 on OCTG in particular. Unless you're planning to hold this through a cycle, then a 50% discount to NTAV only really makes sense if you believe they won't get back to decent positive cash generation again in the next cycle (18/19 u/ebit levels much higher than $45m and if I take underlying PBT averaged 2010-2020 the answer is much higher at $72m). Again, we can draw implications from the share price on what the market is implying, but was the market really implying a very different 5 year future for HTG just 6 months ago at 250p+? I doubt it. I heard a lot of the same arguments on Wynnstay #WYN when the stock was way below TNAV at 225p last year and how it was a low margin low quality stock. But at least in my opinion when you're buying stocks which are so far below intrinsic value then all you need to see for them to work very well is a second derivative improvement, and the December trading update shows the first signs of that. I'm not convinced the market thought Wynnstay's assets were overvalued. It was a smaller company so perhaps some inefficient market hypothesis happening, but it was a mix of institutional shareholder movements and prevailing trading trajectory (was weak; HTG has also revised down expectations a couple of times in early/mid 2021 on the back of a slower capex recovery cycle so weaker than anticipated trading earlier in 2021 is a fair comment). P/sales and P/book are far below any industry competitors which I think stacks the potential for corporate action (if it stays here for an extended period of time) in our favour. We also have the Hunting family owning 16% of the shares, which I consider a positive factor. We will wait and see if the write-downs are excessive. I suspect there may have been some overprovisioning. I'm buying this for an upcycle so that doesn't factor into my forward thinking and those writedowns have naturally been non-cash in nature against one of the most challenging oil periods in decades. I also think oil services stocks and oil stocks in general are pretty hated at the moment in the investor community, which is probably a good thing if 2022 oil capex does rebound well. Eric
flyfisher: Henry hub natural gas price is up 40% since jan 1st. Wti oil price is up 22% over the same period. Resulting in a 20% increase in the north american rig count since jan 1st. Yet HTG share price is the same as jan 1st. We seem to be behind events.
Hunting share price data is direct from the London Stock Exchange
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