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BUZZ-Hunting: Oil market slump pushes profits lower, shares fall

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) in Hunting (LSE: HTG.L - news) fall as much as 7.5 pct as oil and gas market slump dents profit from ops in the first five months

** Co sees FY oper profit down by 50-75 pct, versus Barclays (LSE: BARC.L - news) ' previous expectation of a 53 pct fall

** Stock top percentage loser on the FTSE 250, worst performer on FTSE 350 Oil & Gas index

** Hunting says Q2 saw continued declines in the oil and gas market with an additional 34 pct decline in wells completed in the US and 33 pct worldwide compared to Q1 of 2015

** Barclays cuts target price on stock to 620p from 660p citing further deterioration in the oil & gas market

** Brokerage says key continues to be when or indeed if, the US business starts to pick up

** The oilfield services co says outlook remains unclear (aashika.jain.thomsonreuters.com@reuters.net)