Harbour Energy (LON:HBR) Reaches New 52-Week High - What's Next?

Key Points

• New 52-week high: Harbour Energy's shares reached an intraday high of GBX 331.20 and last traded at GBX 286.20 on heavy volume (4,409,575 shares), though they were about 0.6% lower at the close.
• Analyst outlook: The stock carries an average "Moderate Buy" consensus with a target price of GBX 284.60; JPMorgan raised its target to GBX 318 while three analysts rate Buy and two rate Hold.
• Insider selling and fundamentals: Significant insider sales occurred—Blair Thomas sold 60,000,000 shares at GBX 255 (£153m) and Alexander Krane sold 421,062 shares at GBX 267 (~£1.12m)—as the company shows a market cap of £4.49bn and a negative P/E of -17.89.

Harbour Energy plc (LON:HBR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 331.20 and last traded at GBX 286.20, with a volume of 4409575 shares traded. The stock had previously closed at GBX 288.

Wall Street Analyst Weigh In

HBR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Harbour Energy from GBX 278 to GBX 318 and gave the stock a "neutral" rating in a research note on Wednesday, April 8th. Berenberg Bank reissued a "hold" rating and issued a GBX 225 price target on shares of Harbour Energy in a research note on Thursday, March 5th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of GBX 284.60.

Harbour Energy Trading Down 0.6%

The business has a fifty day moving average price of GBX 273.46 and a 200 day moving average price of GBX 233.47. The company has a market capitalization of £4.49 billion, a PE ratio of -17.89, a P/E/G ratio of 0.04 and a beta of -0.23. The company has a debt-to-equity ratio of 20.81, a quick ratio of 0.33 and a current ratio of 1.04.

Insider Transactions at Harbour Energy

In other news, insider Blair Thomas sold 60,000,000 shares of the firm's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of GBX 255, for a total value of £153,000,000. Also, insider Alexander Krane sold 421,062 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of GBX 267, for a total value of £1,124,235.54. Company insiders own 1.96% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.