Hunting heads back to black

Hopes of a recovery have hovered over Hunting (HTG) ever since the oil price collapsed in 2014. Exposure to the fast-growing, well-funded and nimble US onshore market has made its shares a choice pick for investors hoping to time an uptick in drilling activity. But the reality has been sobering: a dividend was last paid more than two years ago, since when impairments and choppy trading have resulted in a cumulative pre-tax loss of $458m (£347m). An $84m equity placing was ultimately sought this time last year.