Harbour Energy (OTCMKTS:HBRIY) Sees Strong Trading Volume - Should You Buy?

Key Points

• Harbour Energy shares experienced a trading volume increase of 331%, with 25,250 shares traded, significantly up from the previous day’s volume of 5,862 shares.
• Analysts at Morgan Stanley reaffirmed an "overweight" rating for Harbour Energy, suggesting potential for continued growth.
• The company recently announced a dividend of $0.1119 per share, with a yield of 623.0%, set to be paid on October 6th.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report) shares saw an uptick in trading volume on Monday . Approximately 25,250 shares traded hands during trading, an increase of 331% from the previous session's volume of 5,862 shares.The stock last traded at $3.30 and had previously closed at $3.64.

Analyst Ratings Changes

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

Harbour Energy Stock Performance

The stock has a fifty day moving average of $2.87 and a two-hundred day moving average of $2.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.70 and a quick ratio of 0.63.

Harbour Energy Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, October 6th. Investors of record on Tuesday, August 19th will be given a dividend of $0.1119 per share. This represents a yield of 623.0%. The ex-dividend date of this dividend is Monday, August 18th.

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.