Harbour Energy (LON:HBR) Trading Down 0.6% - Should You Sell?

Harbour Energy plc (LON:HBR - Get Free Report) shares traded down 0.6% during trading on Wednesday . The company traded as low as GBX 155.60 ($2.07) and last traded at GBX 157.10 ($2.09). 3,978,682 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 11,361,371 shares. The stock had previously closed at GBX 158 ($2.10).

Analysts Set New Price Targets

HBR has been the topic of several recent research reports. Canaccord Genuity Group reduced their price target on Harbour Energy from GBX 360 ($4.79) to GBX 260 ($3.46) and set a "buy" rating on the stock in a research note on Friday, March 14th. Shore Capital reiterated a "not rated" rating on shares of Harbour Energy in a report on Thursday, January 23rd.

Harbour Energy Stock Performance

The business has a fifty day simple moving average of GBX 178.97 and a two-hundred day simple moving average of GBX 228.50. 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 company has a market cap of £3.08 billion, a P/E ratio of 53.96, a P/E/G ratio of 0.04 and a beta of -0.23.

Harbour Energy Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.13 per share. This represents a yield of 5.21%. The ex-dividend date is Thursday, April 10th. This is a positive change from Harbour Energy's previous dividend of $0.13. Harbour Energy's payout ratio is currently 628.84%.

Insiders Place Their Bets

In other Harbour Energy news, insider Louise Hough bought 12,116 shares of the firm's stock in a transaction dated Tuesday, April 8th. The shares were purchased at an average cost of GBX 176 ($2.34) per share, for a total transaction of £21,324.16 ($28,349.06). Also, insider Blair Thomas sold 6,653,009 shares of Harbour Energy stock in a transaction dated Friday, March 21st. The stock was sold at an average price of GBX 206 ($2.74), for a total value of £13,705,198.54 ($18,220,152.27). In the last 90 days, insiders have bought 43,552 shares of company stock worth $8,120,948. Company insiders own 64.08% of the company's stock.

Harbour Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.