Harbour Energy plc (LON:HBR - Get Free Report) shot up 0.5% during trading on Monday . The company traded as high as GBX 195.80 ($2.63) and last traded at GBX 193 ($2.60). 3,647,033 shares were traded during trading, a decline of 52% from the average session volume of 7,574,355 shares. The stock had previously closed at GBX 192.10 ($2.58).
Analysts Set New Price Targets
Several brokerages have issued reports on HBR. Shore Capital reaffirmed a "no recommendation" rating on shares of Harbour Energy in a report on Thursday. Canaccord Genuity Group raised their price objective on shares of Harbour Energy from GBX 275 ($3.70) to GBX 285 ($3.83) and gave the stock a "buy" rating in a research report on Friday.
Check Out Our Latest Stock Report on HBR
Harbour Energy Stock Up 2.2%
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 business's fifty day moving average price is GBX 199.43 and its 200 day moving average price is GBX 197.91. The firm has a market capitalization of £4.08 billion, a price-to-earnings ratio of 71.44, a PEG ratio of 0.04 and a beta of -0.23.
Harbour Energy declared that its Board of Directors has approved a stock repurchase program on Thursday, August 7th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.
Insider Buying and Selling
In other Harbour Energy news, insider Alexander Krane acquired 9,644 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was purchased at an average cost of GBX 179 ($2.41) per share, for a total transaction of £17,262.76 ($23,215.12). Also, insider Belgacem Chariag acquired 20,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of GBX 178 ($2.39) per share, for a total transaction of £35,600 ($47,875.20). 64.08% of the stock is currently owned by insiders.
Harbour Energy Company Profile
(
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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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