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could this company be a takeover target ?,, wont be cheap ?
I've entered my first position. Spread not great, so my entry is 282.
I have around 270 as being interesting. Some buyers coming in now though. Earnings on the 16th, probably won't produce negative surprises. Rig count is down, not sure how much that would affect us. I'm watching closely with the intention of buying in the near future. I think I'd risk holding this over results. I mostly don't do that.
let's get this over with - can you double bottom it for me around 270p :)
Hopefully will end up the day green on past actions. I used to trade this one very successfully.
You just gotta to hit the buy button when it goes down - 335 to 272 after results and a dividend confirmed.
Just plain wrong.
Still creates opportunities .
Agree way overdone but this stock tends to move quick in either direction. Big shake out this morning. I see Broker rating cut to £3.20 but this is not an update that deserves 20% drop . Anything under £3 is a bargain really considering the where oil investment is likely to go over next few years and also the growth the company are aiming for.
Very biddible, wonder who the seller was earlier.
What a bargain in sub 275p - waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay oversold.
Could go to 150p the shorters say.
Could go to £4+
or somewhere in between. Good luck all.
Sell off way overdone imo. They don't need a cash call with the new RBL... The 24.5m i think refers to this statement:
"Hunting ended 2022 with a robust balance
sheet and a total cash and bank balance of
$24.5m (2021 – $114.2m). As previously
reported, on 7 February 2022 the Group
entered a new $150m Asset Based Lending
(“ABL”) facility, which replaced the $160m
Revolving Credit Facility (“RCF”).
Given the “covenant-light” structure of the ABL,
the new facility has materially increased the
Group’s liquidity through the trading cycle and
provides Hunting with a more flexible and
reliable source of committed funding to pursue
new growth opportunities.
In our Going Concern assessment on
page 111, the Directors consider the likelihood
that the Group will require access to the facility,
or any other source of external funding, to
support our existing operations in the next 12
months."
And this is page 111:
" The Group has access to sufficient financial
resources, including a $150m secured
committed Asset Based Lending facility
(“ABL”), which commenced in February 2022.
Throughout 2022, the ABL and the Group’s
prior borrowing facility were undrawn. In early
2023, the Group will temporarily utilise the
ABL in order to fund the Group’s expanding
business. The Group’s internal financial
projections indicate that the Group is expected
to return to a cash-positive position during
2023 and consequently has sufficient liquidity
to meet its funding requirements over the next
twelve months. "
Where do you get £24.5m from? Bur don't disagree. Cash not really being generated by operations.
Where do you get £24.5m from? Bur don't disagree. Cash not really being generated by operations.
cash call perhaps ? 24.5m
EBITDA as proxy for free cash flow. $2.0m - up from last year but nor much wriggle room. And the delta from $50m operating profit needs a breakdown. A bit of caution, I would say.
D
On first glance good results, launch of new strategy...lets see what tye market makes of this. GL
results are Thursday 2 March
And there it is... This time it should break 52wk high. I think results next week too.
This has consolidated and then dropped back but see the offer for WG announced at close yesterday. This highlights the value in the sector. I can see this going on a bit of a run here now.
Nice volume already today. Entry to 250 could give a timely little boost here
Entry to FTSE 250 confirmed. £4 next stop
Creeping up to that 52wk high. Looking good here:
Barclays raises Hunting price target to 420 (390) pence - 'overweight'
Seems to have consolidated nicely here. Ready for the next leg up.
52wk high is 356....i expect this will be taken out pretty soon and then onto £4.
me thinks move money in here from pfc and wood ... this i think is a safer bet ...
LONDON, Dec 22 (Reuters) - Oil prices climbed for a fourth straight day to hit their highest in two and a half weeks on Thursday with U.S. crude, heating oil and jet fuel stocks growing tighter just as a wintry blast hits the United States.
there is a very good chance we could have Santa rally still
Relentless! And all this in a bad market. Just imaging if we would have had that santa rally!
Ah well...I agree 330 next stop. Looks like £2 is well and truly behind us now.
330p next target