Harbour Energy (LON:HBR) Trading Up 0.9% – Should You Buy?

Harbour Energy plc (LON:HBR)’s share price was up 0.9% on Monday . The stock traded as high as GBX 213.40 and last traded at GBX 210.20. Approximately 118,118,555 shares traded hands during mid-day trading, an increase of 1,427% from the average daily volume of 7,735,779 shares. The stock had previously closed at GBX 208.40.

Analysts Set New Price Targets

HBR has been the topic of a number of research analyst reports. Shore Capital reaffirmed a “no recommendation” rating on shares of Harbour Energy in a report on Thursday, August 7th. Canaccord Genuity Group restated a “buy” rating and set a GBX 282 price objective on shares of Harbour Energy in a research report on Monday, November 10th. Berenberg Bank boosted their target price on shares of Harbour Energy from GBX 200 to GBX 220 and gave the stock a “hold” rating in a report on Friday, August 8th. JPMorgan Chase & Co. began coverage on shares of Harbour Energy in a research note on Tuesday, September 2nd. They set an “overweight” rating and a GBX 298 target price for the company. Finally, Jefferies Financial Group raised their target price on shares of Harbour Energy from GBX 240 to GBX 290 and gave the stock a “buy” rating in a report on Monday, October 20th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 272.50.

Harbour Energy Trading Up 1.6%

The company’s 50-day moving average is GBX 215.50 and its 200 day moving average is GBX 209.49. The company has a current ratio of 0.82, a quick ratio of 0.33 and a debt-to-equity ratio of 76.75. The firm has a market cap of £2.96 billion, a PE ratio of -7.12, a P/E/G ratio of 0.04 and a beta of -0.23.

Harbour Energy announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 7th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.