Harbour Energy (LON:HBR) Shares Up 13% - Here's Why

Key Points

• Harbour Energy's stock price increased by 13% during mid-day trading, reaching GBX 230.80 ($3.08), with a substantial trading volume of approximately 71.5 million shares.
• Analysts at Shore Capital have reissued a "no recommendation" rating on Harbour Energy's shares, indicating a lack of strong endorsement for investment in the company.
• Insider purchases by Belgacem Chariag and Alexander Krane suggest insider confidence, with Chariag buying 20,000 shares and Krane acquiring 9,644 shares at prices around GBX 178 ($2.38) and GBX 179 ($2.39), respectively.

Harbour Energy plc (LON:HBR - Get Free Report)'s stock price was up 13% during mid-day trading on Thursday . The company traded as high as GBX 246.25 ($3.29) and last traded at GBX 230.80 ($3.08). Approximately 71,499,336 shares were traded during trading, an increase of 803% from the average daily volume of 7,918,402 shares. The stock had previously closed at GBX 204.20 ($2.73).

Analyst Ratings Changes

Separately, Shore Capital reissued a "no recommendation" rating on shares of Harbour Energy in a research note on Thursday.

Harbour Energy Trading Up 11.3%

The firm's 50 day moving average price is GBX 198.61 and its 200-day moving average price is GBX 198.38. The company has a debt-to-equity ratio of 76.75, a current ratio of 0.82 and a quick ratio of 0.33. The stock has a market cap of £4.08 billion, a P/E ratio of 71.44, a P/E/G ratio of 0.04 and a beta of -0.23.

Insider Activity at Harbour Energy

In other Harbour Energy news, insider Belgacem Chariag purchased 20,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of GBX 178 ($2.38) per share, for a total transaction of £35,600 ($47,555.44). Also, insider Alexander Krane acquired 9,644 shares of Harbour Energy stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average price of GBX 179 ($2.39) per share, with a total value of £17,262.76 ($23,060.06). Corporate insiders own 64.08% 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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