Oil services group Hunting downgraded by Barclays amid US slowdown
“Despite 30% upside potential to our increased £10/share price target, we downgrade to ‘equal weight’ to wait out the US slowdown and wait for more positive conditions”
Company
Hunting PLC
LON:HTG
Hunting PLC is an international energy services provider to the world's leading oil and gas concerns in the upstream and midstream sectors first established in 1874.
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Trinity Exploration & Production rises as it spuds first well in six-well programme
A look at some of the biggest risers and fallers in London on Thursday
Hunting jumps as it swings to profit in half year, boosted by US shale operations
The FTSE 250 supplier to the oil & gas industry reported a pre-tax profit from operations of US$38mln for the period, up from a US$25.5mln loss the same time last year
FTSE 100 journey in the red continues as it closes down around 47 points
In the currency markets, the pound is down 30% against the US dollar, while the pound is up 0.26% against the Euro..
Investments and investor services
WH Smith, Hunting and Hays to be in Thursday’s spotlight
Retailer WH Smith heads the highlights for Thursday's schedule.
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Week ahead: Restaurant Group, Hays, Petrofac, WH Smith, Hunting, Bunzl...
The week ahead will see interims from the Restaurant Group, Petrofac, Hunting and Bunzl along with full year results from Hays and a trading update from WH Smith
Hunting shares fall as it retains “cautious view" on rate of recovery in wider oil services market
However, in a half-year trading update, the FTSE 250-listed firm still said the group “currently remain comfortable with the market consensus for the 2018 full year outturn”
FTSE 100 joins other European benchmarks to go lower as trade fears continue to dent sentiment
FTSE 250 closed also lower - just shy of 160 points lower at 20,684, while FTSE small cap market shed around 25 points
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Greene King enjoying the summer sunshine
The oil sector dominates the corporate news agenda on Thursday but it is also difficult to get away from matters pertaining to the World Cup
Archive
Costa Coffee demerger move hangs over Whitbread trading update
Aside from Whitbread, updates are also due in the week ahead from cruises operator Carnival, packaging firm Bunzl, struggling floorings retailer Carpetright, and pubs operator Greene King
UBS dampens down sentiment for Hunting, downgrading its rating on concerns over US bottle-necks
The Swiss bank cut its stance for the FTSE 250-listed firm to ‘neutral’ from ‘buy’ but upped its target to 850p from 800p, with the stock trading at 820.5p
Hunting shares up, expects full year results to be ‘within upper half of current market consensus’
In an AGM trading update, the FTSE 250-listed firm said that for the first three months of 2018 its underlying earnings (EBITDA) was approximately US$32.7mln
Investments and investor services
FTSE 100 closes firmly higher as metals prices, sterling help
FTSE 100 gained support from higher metals prices and a slide in sterling on Wednesday to close higher
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Bunzl expected to report solid organic sales growth
Updates are expected from Bunzl, Countryside Properties and Jupiter Fund Management, among others
Archive
High street issues to the fore as Debenhams, JD Sports, and Primark owner AB Foods provide updates
Week Ahead includes trading statements from Primark owner Associated British Foods, Debenhams, and JD Sports, plus Q1 numbers from Unilever, Reckitt Benckiser and Rentokil Initial
Investments and investor services
Markets nervous ahead of Capita finals, is it ‘the next Carillion’?
Capita will be a focus on Thursday, others include Bovis House, Cobham, and National Express.
Morgan Stanley boosts Hunting with a double-upgrade in rating after a big hike in its target price
The US investment bank upped its stance on the FTSE 250-listed firm to ‘overweight’ from ‘underweight’ after increasing its target price to 860p from 450p
Hunting weathers the storm as it eyes a return to normal banking covenants
EBITDA for the full year is likely to be at the upper end of expectations
FTSE 100 holds on to gains despite late swoon
The FTSE 100 was its gains eroded as the Jackson Hole chinwag got under way
Premier Oil: Wytch Farm, Catcher start-up and game changing Mexico discovery – there’s plenty to look for in Thursday’s results
Premier Oil will be among the highlights on Thursday's City agenda