Harbour Energy (LON:HBR) Reaches New 12-Month High - Still a Buy?

Key Points

• Harbour Energy hit a new 52-week high, trading as high as GBX 286.06 (last GBX 286) on heavy volume of about 24.18 million shares.
• Analyst sentiment is positive with a consensus Moderate Buy rating and an average price target of GBX 280.60; four analysts rate it Buy and one Hold, and Canaccord raised its target to GBX 320.
• Despite the rally, the company shows riskier fundamentals with a market cap of ~£3.98bn, a negative PE (-9.71) and a high debt-to-equity ratio (108.90), indicating significant leverage.

Harbour Energy plc (LON:HBR - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 286.06 and last traded at GBX 286, with a volume of 24178035 shares. The stock had previously closed at GBX 260.60.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HBR shares. Peel Hunt restated a "buy" rating and set a GBX 270 price objective on shares of Harbour Energy in a report on Monday, December 15th. Berenberg Bank reissued a "hold" rating and set a GBX 225 price objective on shares of Harbour Energy in a report on Thursday. Finally, Canaccord Genuity Group lifted their target price on shares of Harbour Energy from GBX 292 to GBX 320 and gave the stock a "buy" rating in a research note on Thursday, December 18th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Harbour Energy currently has an average rating of "Moderate Buy" and a consensus price target of GBX 280.60.

Harbour Energy Stock Performance

The company has a 50-day moving average of GBX 218.61 and a 200 day moving average of GBX 216.79. The firm has a market capitalization of £3.98 billion, a PE ratio of -9.71, a PEG ratio of 0.04 and a beta of -0.23. The company has a quick ratio of 0.33, a current ratio of 1.00 and a debt-to-equity ratio of 108.90.

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.

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