Harbour Energy (OTCMKTS:HBRIY) Sees Large Volume Increase - What's Next?

Key Points

• Harbour Energy experienced a significant increase in trading volume, with 16,920 shares exchanged, a rise of 167% from the previous session.
• Analysts maintain a positive outlook, with Morgan Stanley reiterating an "overweight" rating and an average rating of "Moderate Buy" for the stock.
• Despite its positive trading indicators, the company recently reduced its dividend, with a yield of 623.0% on the latest payout.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report) saw an uptick in trading volume on Tuesday . 16,920 shares traded hands during mid-day trading, an increase of 167% from the previous session's volume of 6,335 shares.The stock last traded at $2.75 and had previously closed at $2.85.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reiterated an "overweight" rating on shares of Harbour Energy in a research report on Tuesday, June 17th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Harbour Energy Stock Performance

The business has a fifty day simple moving average of $3.11 and a two-hundred day simple moving average of $2.72. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.80.

Harbour Energy Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, October 6th. Shareholders of record on Tuesday, August 19th were issued a $0.1119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 623.0%.

Harbour Energy Company Profile

Harbour Energy plc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and gas reserves. The company holds interests in various properties located in the United Kingdom, Norwegian Continental Shelves, Indonesia, Vietnam, and Mexico. It is also involved in the decommissioning, financing, gas trading, and risk mitigation activities.

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