Hunter Group (Buy, TP: NOK6.30) - Q3 a non-event, good Q4 guidance
Hunter Group reported Q3 EBITDA above expectations on lower than expected costs, while net profit was below forecasts on higher net financial expenses. The company will have one VLCC on the water for the whole of Q4, with a second ship delivered on 19 October and a third on 1 November. Vessel deliveries in a rising market could explain the above-peer Q4 guidance for VLCC rates with 96% of days booked at USD70k/day.Hunter Group is developing the Badger Explorer, a revolutionary technology for exploration and verification of hydrocarbon prospects, without the risks, cost and complexity of drilling an exploration well with a rig. The Badger Explorer tool acquires exploration data as it drills, and once installed at its target depth, can continue to monitor subsurface parameters to enhance development and production activities.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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