Harbour Energy (LON:HBR) Shares Up 13.8% - Still a Buy?

Key Points

• Harbour Energy's shares surged 13.8% during trading on Thursday, reaching a high of GBX 246.25 ($3.29) after previously closing at GBX 204.20 ($2.73).
• Insider purchases included significant buys by Belgacem Chariag and Alexander Krane, indicating a strong insider confidence, with insiders owning 64.08% of the company's stock.
• Analysts from Shore Capital have restated a "no recommendation" rating on Harbour Energy, signaling uncertainty about future performance despite the recent rise in share price.

Harbour Energy plc (LON:HBR - Get Free Report) was up 13.8% during trading on Thursday . The stock traded as high as GBX 246.25 ($3.29) and last traded at GBX 232.30 ($3.10). Approximately 72,265,203 shares were traded during mid-day trading, an increase of 812% from the average daily volume of 7,923,440 shares. The stock had previously closed at GBX 204.20 ($2.73).

Analysts Set New Price Targets

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

Harbour Energy Price Performance

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

Insider Activity

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