Canaccord Genuity Group Issues Pessimistic Forecast for Harbour Energy (LON:HBR) Stock Price

Harbour Energy (LON:HBR) had its price objective lowered by research analysts at Canaccord Genuity Group from GBX 450 to GBX 425 in a report released on Wednesday,Digital Look reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 87.56% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a GBX 351 price objective on shares of Harbour Energy in a research report on Thursday, May 7th. Jefferies Financial Group reissued a “buy” rating and set a GBX 295 price target on shares of Harbour Energy in a research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective on Harbour Energy from GBX 318 to GBX 290 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, Berenberg Bank decreased their price objective on Harbour Energy from GBX 255 to GBX 245 and set a “hold” rating on the stock in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Harbour Energy has a consensus rating of “Moderate Buy” and a consensus price target of GBX 312.67.

Harbour Energy Price Performance

LON:HBR traded down GBX 10.20 during mid-day trading on Wednesday, hitting GBX 226.60. 2,767,010 shares of the company’s stock traded hands, compared to its average volume of 22,170,689. The company has a debt-to-equity ratio of 20.81, a quick ratio of 0.33 and a current ratio of 1.04. The company has a market cap of £3.56 billion, a PE ratio of -14.16, a price-to-earnings-growth ratio of 0.04 and a beta of -0.23. The firm’s 50 day simple moving average is GBX 275.28 and its 200 day simple moving average is GBX 250.42. Harbour Energy has a 1 year low of GBX 182 and a 1 year high of GBX 321.

Insider Buying and Selling

In other news, insider Alexander Krane sold 421,062 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of GBX 267, for a total transaction of £1,124,235.54. 1.78% of the stock is owned by corporate insiders.

Harbour Energy Company Profile

Harbour Energy is the largest London-listed independent oil and gas company with significant positions in Norway, the UK, Germany, Argentina, Mexico, North Africa and South East Asia.