Harbour Energy (LON:HBR) Shares Up 15.6% - Time to Buy?

Key Points

• Harbour Energy's share price increased by 15.6% during trading, reaching GBX 246.25 ($3.29) at its peak, with a notable trading volume of approximately 70.75 million shares.
• Despite the recent surge in share price, Shore Capital maintained a "no recommendation" rating on Harbour Energy's stock.
• Insider purchases were reported, with significant acquisitions made by Belgacem Chariag and Alexander Krane, indicating strong insider confidence in the company's future.

Harbour Energy plc (LON:HBR - Get Free Report)'s share price rose 15.6% during trading on Thursday . The company traded as high as GBX 246.25 ($3.29) and last traded at GBX 236 ($3.15). Approximately 70,753,313 shares changed hands during mid-day trading, an increase of 794% from the average daily volume of 7,913,494 shares. The stock had previously closed at GBX 204.20 ($2.73).

Wall Street Analysts Forecast Growth

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

Harbour Energy Trading Up 11.2%

The company's 50 day moving average price is GBX 198.61 and its two-hundred day moving average price is GBX 198.38. The firm has a market cap of £4.08 billion, a PE ratio of 71.41, a P/E/G ratio of 0.04 and a beta of -0.23. The company has a quick ratio of 0.33, a current ratio of 0.82 and a debt-to-equity ratio of 76.75.

Insider Activity

In other news, insider Belgacem Chariag acquired 20,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was acquired 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 bought 9,644 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were 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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