Harbour Energy (LON:HBR) Receives Hold Rating from Berenberg Bank

Key Points

• Berenberg Bank reaffirmed its “Hold” rating on Harbour Energy and set a GBX 245 price target, implying approximately 0.89% downside from the current price.
• Analyst sentiment remains positive overall, with four “Buy” ratings and two “Hold” ratings, producing a consensus “Moderate Buy” rating and an average price target of GBX 312.67.
• Harbour Energy shares opened at GBX 247.20, while insider Blair Thomas sold 54.8 million shares for approximately £112.3 million; insiders currently own 1.78% of the company.

Harbour Energy (LON:HBR - Get Free Report)'s stock had its "hold" rating reissued by Berenberg Bank in a research report issued to clients and investors on Thursday,London Stock Exchange reports. They currently have a GBX 245 target price on the stock. Berenberg Bank's price target points to a potential downside of 0.89% from the company's current price.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Harbour Energy from GBX 318 to GBX 290 and set a "neutral" rating on the stock in a research report on Thursday, June 4th. Canaccord Genuity Group cut their price objective on shares of Harbour Energy from GBX 450 to GBX 425 and set a "buy" rating for the company in a research note on Wednesday, June 24th. Stifel Nicolaus reaffirmed a "buy" rating and set a GBX 351 target price on shares of Harbour Energy in a report on Thursday, May 7th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 295 target price on shares of Harbour Energy in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of GBX 312.67.

Harbour Energy Stock Performance

LON:HBR opened at GBX 247.20 on Thursday. The business has a 50 day moving average of GBX 240.96 and a 200 day moving average of GBX 256.82. The company has a market capitalization of £3.88 billion, a price-to-earnings ratio of -15.45, a PEG ratio of 0.04 and a beta of -0.23. Harbour Energy has a 1-year low of GBX 182 and a 1-year high of GBX 321. The company has a debt-to-equity ratio of 20.81, a current ratio of 1.04 and a quick ratio of 0.33.

Insider Transactions at Harbour Energy

In other Harbour Energy news, insider Blair Thomas sold 54,775,572 shares of the company's stock in a transaction that occurred on Friday, July 3rd. The stock was sold at an average price of GBX 205, for a total transaction of £112,289,922.60. 1.78% of the stock is currently owned by corporate insiders.

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.

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