Harbour Energy (OTCMKTS:HBRIY) Shares Down 6.5% - Here's What Happened

Key Points

• Shares of Harbour Energy fell by 6.5%, trading at $3.14, and experienced a significant drop in trading volume, down 93% from the average.
• Analyst ratings for Harbour Energy include an "overweight" rating from Morgan Stanley, with a consensus rating of "Moderate Buy".
• The company recently announced a dividend of $0.1119 per share, which represents a high yield of 623.0%.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report)'s share price fell 6.5% during trading on Tuesday . The company traded as low as $3.14 and last traded at $3.14. 496 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 6,981 shares. The stock had previously closed at $3.36.

Analyst Upgrades and Downgrades

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

Harbour Energy Price Performance

The business's 50 day moving average price is $2.94 and its 200-day moving average price is $2.68. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 0.68.

Harbour Energy Cuts Dividend

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

About Harbour Energy

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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