A combination of a favourable commodity price backdrop and positive operational progress has helped energy services firm Hunting (HTG) to a 20% share price gain in the past six months.

As chief executive Jim Johnson explained to Shares an investor day on 13 September was intended to demonstrate to the market the business was about more than its flagship Titan product. This perforating gun is used to penetrate wells in preparation for production and is heavily tied to US onshore rig activity.

Hunting has set out a new strategy which centres around its strategy to achieve 15% EBITDA (earnings before interest, tax, depreciation and amortisation) margins by 2025 with further improvement by 2030, with multiple avenues for growth, reducing cyclicality and volatility from a business previously heavily reliant on Titan performance.

The company is targeting $1 billion worth of free cash flow generation between now and the end of the decade and has equipment and technologies which can be applied to the energy transition, specifically in areas like geothermal and carbon capture.

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