UK's Hunting hits over 4-year high on order win

Oil Country Tubular

15/05/2024 08:27

** Britain's Hunting  HTG.L  advances nearly 15% at 428
pence, hitting its highest since Jan 2020
    ** Co emerges as topper in the FTSE Mid 250 Index  .FTMC    
  
    ** The oilfield services firm says it has received a $145
million order from Kuwait Oil Company to supply a large quantity
of premium Oil Country Tubular Goods (OTCG) casing 
    ** Co now expects 2024 core earnings to be towards the top
end of its current guidance of $125-135 million, due to order
win 
    ** Brokerage RBC raises price target to 435 pence from 415
pence 
    ** Adds that revenue from order expected to be recognized
from late Q4 2024 and into 2025
    ** Up to last's close, stock had risen more than 26% 

    
  

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))