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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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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.

  • Epic Code:
  • HTG
  • Price:
  • 790p
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 £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 £18m due to subdued activity in the onshore gas shale basins as a result of a fall in prices due to a supply gl ...

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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.

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