Harbour Energy (LON:HBR) Sets New 1-Year High - What's Next?

Key Points

• Harbour Energy shares hit a new 52-week intraday high of GBX 382.20 on Friday with heavy volume (~100.97 million shares), though the stock last traded at GBX 285.20, below the prior close of GBX 300.
• Analysts hold a consensus Moderate Buy (three Buy, two Hold) with an average target price of GBX 276.60, which is below the recent intraday peak and slightly under the last trade.
• Insider Blair Thomas sold 60,000,000 shares at GBX 255 for approximately £153 million; company insiders now own about 1.96% of Harbour Energy.

Harbour Energy plc (LON:HBR - Get Free Report)'s share price reached a new 52-week high on Friday . The company traded as high as GBX 382.20 and last traded at GBX 285.20, with a volume of 100971203 shares changing hands. The stock had previously closed at GBX 300.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HBR shares. JPMorgan Chase & Co. boosted their target price on shares of Harbour Energy from GBX 270 to GBX 278 and gave the stock a "neutral" rating in a research report on Wednesday, March 11th. Peel Hunt reaffirmed a "buy" rating and issued a GBX 270 price target on shares of Harbour Energy in a research report on Monday, December 15th. Canaccord Genuity Group lifted their price target on Harbour Energy from GBX 292 to GBX 320 and gave the company a "buy" rating in a research note on Thursday, December 18th. Finally, Berenberg Bank reissued a "hold" rating and set a GBX 225 price objective on shares of Harbour Energy in a report on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of GBX 276.60.

Harbour Energy Price Performance

The company has a market capitalization of £4.48 billion, a P/E ratio of -9.70, a price-to-earnings-growth ratio of 0.04 and a beta of -0.23. The business's 50-day moving average is GBX 248.61 and its two-hundred day moving average is GBX 223.90. The company has a quick ratio of 0.33, a current ratio of 1.04 and a debt-to-equity ratio of 20.81.

Insider Buying and Selling

In other Harbour Energy news, insider Blair Thomas sold 60,000,000 shares of Harbour Energy stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of GBX 255, for a total transaction of £153,000,000. 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.

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