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Slowly slowly this is starting it's move back up. I'm shocked this is still under £3
you're movin' on out
Movin' on up, nothin' can stop me
https://oilprice.com/Energy/Crude-Oil/Worlds-Top-Oilfield-Service-Provider-Raises-Earnings-Outlook.html
The Northern American rig count has continued and my overall thesis for Hunting has not changed despite the recent share price weakness (watched a <100% gain turn to around a 20-25% gain). I've retained my holding and if it drops below my original purchase price I will consider adding.
My only concern is whether inflation is eroding their margins on contracts (i.e. they agree a contract 1 year ago with a 10% margin and the 10% cost inflation over that time makes the contract unprofitable). That said, they must have some capacity to pass on costs or other form of direct/indirect inflation protection.
Well I got a few yesterday at 1.92. Didnt get my average under 2.00, but getting closer to the price.
Hi Soulsister. I hope they drop some more, as I need to lower my average here. I remember selling a batch for 212 on the results day, absolutely convinced Id sold at rock bottom. It just shows you should always sell when price drops.
I think getting back to £2 is an easy call here, so just need to buy enough to be in profit at £2. I need to see more from the company for this to be a long term hold, would like to know more about what they are doing, and what the investment case is here.
Much lower can these flaming shares drop . Jeez glad I sold most of them at a small loss ! Wish I'd sold the kit
Hunting PLC, down 18% at 224.00p, 12-month range 142.80-356.50p. The energy services firm says it expects to return to bottom-line profitability in the full year, but notes that supply chain volatility has heavily impacted operations in the Asia Pacific. Interim earnings before interest, tax, depreciation, and amortization are expected in the range of USD16 million to USD18 million. The previous year, the company reported an Ebitda loss of USD3.6 million. Hunting says that its second half performance continued to indicate a strengthening in revenue-run rate. Third and fourth quarter Ebitda run-rate is expected to increase by 20% against the second quarter, it explains. Jefferies analyst Mark Wilson says this implies USD40 million Ebitda for 2022, lower compared to consensus of USD61 million.
"Jefferies analyst Mark Wilson says this implies USD40 million Ebitda for 2022, lower compared to consensus of USD61 million."
I like HTG and I had 216-225 as a potential area where buyers might come in. Time will tell.
Honestly, I think this is just the latest tactic from big money. Ram it down and collect the shares. Im holding mine, and may add a few more over the next few days. I like HTG.
I was thinking the same thing. I didn't spot a problem in the RNS which doesn't mean that there isn't one, but the price is dropping pretty hard. A lot of stuff has come down today, but HTG seems to be outperforming to the downside. Overall the FTSE doesn't seem that bad, POO is high, but something has spooked the SP. Would love to hear from anyone who has a feel for this.
What a strange drop considering the news is quite good!
Back in at 250p. Can't believe I got back in at such a low price. Way over done. Decent update today.
It's bonkers! Despite the very positive RNS, the SP has crashed almost 9% on opening. Beggars belief!!
I sold out a few weeks ago... but surprised to see this drop back so sharply. Anyone know why?
I wanted to keep as much in cash as possible for next few months but I'm tempted to get back in if it goes much lower.
A couple of encouraging statements from the update :
"Hunting's order book grew further during the quarter and now exceeds pre-pandemic levels, supporting management's view that global drilling activity and investment is improving."
"The sharp increase in global commodity prices is also leading to an increase in industry investment sentiment, with energy security and oil and gas reserve depletion driving a new phase of growth. Hunting remains well positioned to take advantage of this improving market environment."
President Biden is calling on Congress to make companies pay fees on wells from their leases that they haven’t used in years and on acres of public lands that they are hoarding without producing
And another one today....institutions building stakes here. Looking good for another leg up
RBC raises Hunting to 'outperform' (sector perform) - price target 455 (265) pence
might be a while .......
https://www.google.com/amp/s/www.wsj.com/amp/articles/joe-bidens-u-s-oil-embargo-russia-energy-natural-gas-vladimir-putin-ukraine-11646780609
Great article explaining why oil price boom hads not translated to greater activity in USA. This is a reason why I think there is limited upside currently. If Biden is hell-bent on stopping shale than there isn't going to be a flurry of activity expected by the markets.
Divorce material lol but sadly true. Hopefully you also break even BO77