Updates

Hunting - Poor gas prices hurt demand

November 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Hunting, which makes precision engineered products for the oil & gas sector, has frustratingly traded sideways for the past 12 months, reflecting sluggish drilling activity and lower year-on-year rig counts in the US and Canada due to poor gas prices. The good news is that activity has picked up more recently but even so, the difficult trading conditions meant interims revealed a 1% decline in pretax profit to Â£61.2m while eps fell 4% to 27.3p. Performance at two of its three divisions was down. In well construction, which supplies steel locking threads to connect sections of steel pipe together, profit fell 17% to Â£18m due to subdued activity in the onshore gas shale basins as a result of a fall in prices due to a supply gl ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Dunelm - Another special dividend

TMI Trader Portfolio - November 2013

Hunting (December 2024)

Hunting (November 2024)

Hunting - Investec increases price target by 200p to 665p after guidance raised yet again (September 2024)

Hunting - Big order from KOC (July 2024)

Hunting - Another hitting highs as forecasts beaten (June 2024)

Hunting - Record order book driving shares to highs (May 2024)

Hunting (March 2024)

Hunting - Explosive demand and a soon-to-be prospective PE of 9.0 (December 2023)

Hunting (September 2023)

Hunting (July 2023)

Hunting (April 2023)

Hunting - Raises 2023 market expectations (February 2023)

Hunting (December 2022)

Hunting - Oilfield services firm benefits from US resurgence; order book doubles (November 2022)

Hunting - Oil rally boosts shares (November 2016)

Hunting (December 2015)

Hunting - Shares hit by large downgrade (November 2015)

Hunting (June 2015)

Hunting (May 2013)

Hunting - Pretax profit up 153% (November 2012)

Hunting - Oil rig activity still buoyant (June 2012)

Hunting (April 2012)

Hunting - Supplier of down-hole products for oil wells seeing explosion in demand (March 2012)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X