Harbour Energy (LON:HBR) Shares Down 9.2% – What’s Next?

Harbour Energy plc (LON:HBR)’s share price dropped 9.2% during mid-day trading on Wednesday . The company traded as low as GBX 251.40 and last traded at GBX 257.40. Approximately 802,448,813 shares were traded during trading, an increase of 2,881% from the average daily volume of 26,921,279 shares. The stock had previously closed at GBX 283.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Berenberg Bank reiterated a “hold” rating and issued a GBX 225 target price on shares of Harbour Energy in a research report on Thursday, March 5th. Canaccord Genuity Group upped their price objective on shares of Harbour Energy from GBX 292 to GBX 320 and gave the company a “buy” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. increased their price objective on shares of Harbour Energy from GBX 270 to GBX 278 and gave the company a “neutral” rating in a report on Wednesday. Finally, Peel Hunt reissued a “buy” rating and issued a GBX 270 target price on shares of Harbour Energy in a research note on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 276.60.

Harbour Energy Trading Up 2.8%

The company has a market capitalization of £4.53 billion, a PE ratio of -9.81, a PEG ratio of 0.04 and a beta of -0.23. The company has a fifty day simple moving average of GBX 229.10 and a 200-day simple moving average of GBX 219.25. The company has a current ratio of 1.04, a quick ratio of 0.33 and a debt-to-equity ratio of 20.81.

About Harbour Energy

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.