Hunting PLC Cancels Newly Repurchased Shares, Updates Voting Rights

Hunting ( (GB:HTG) ) has issued an update.

Hunting PLC has repurchased 62,881 of its ordinary shares as part of its ongoing buyback programme, paying a volume-weighted average price of 518.22 pence and executing the trades through Berenberg on the London Stock Exchange. The company plans to cancel these shares, reducing its share capital and setting the total number of shares in issue, and therefore voting rights, at 154,800,494, a move that may slightly enhance earnings per share and alters the denominator used by investors for regulatory disclosure thresholds.

By continuing its previously announced buyback, Hunting is signalling confidence in its balance sheet and capital position while returning value to shareholders through a tighter equity base. The updated share count will be relevant for institutional holders and other stakeholders monitoring ownership levels under UK market transparency rules, as even incremental reductions in free float can affect liquidity and reporting requirements.

The most recent analyst rating on (GB:HTG) stock is a Hold with a £483.00 price target. To see the full list of analyst forecasts on Hunting stock, see the GB:HTG Stock Forecast page.

Spark’s Take on GB:HTG Stock

According to Spark, TipRanks’ AI Analyst, GB:HTG is a Neutral.

The score is primarily supported by strong 2024 cash flow and a low-leverage balance sheet, plus shareholder-friendly corporate actions (expanded buybacks) and positive strategic developments. Offsetting these strengths are volatile profitability (2024 loss after 2023 profit) and currently soft technical momentum (negative MACD, RSI below 50).

To see Spark’s full report on GB:HTG stock, click here.

More about Hunting

Hunting PLC is an energy services company listed in London that supplies precision-engineered equipment and components to the global oil and gas industry. The group focuses on well construction, completion and intervention technologies, serving upstream operators and related energy markets worldwide.

Average Trading Volume: 478,292

Technical Sentiment Signal: Buy

Current Market Cap: £756.1M

Learn more about HTG stock on TipRanks’ Stock Analysis page.